You can attract top talent to your organization by going beyond pay, tweaking your culture, and using finance and IT recruitment agencies specializing in Finance recruitment and IT recruitment.
The finance and IT industries are in the midst of a talent crisis. Capgemini’s research finds that 62 percent of senior banking leaders believe the digital skills gap is bad and getting worse.
Therefore, firms are rethinking their IT & Finance recruitment processes. They’re tweaking their approaches to survive in today’s competitive marketplace.
This post explores actionable strategies you can use to speed up your finance recruitment and get the people you need to join your organization. Read on to learn more.
Look Beyond Remuneration & Finance Recruitment
Finance and IT professionals believe in economic orthodoxy. The higher the wages you offer, the more talent you’ll attract – or so the reasoning goes.
However, that’s not always true, particularly in the banking sector. Jobs are a package deal. There’s way more to them than a monthly wage. Ninety percent of people are willing to earn less if they can do more valuable work.
To prove this point, finance and IT salaries have never been higher. Remuneration in investment banking, private equity, and data processing fields is extraordinary, yet onboarding is sluggish. Talent doesn’t want to sign up.
The solution is to adopt a holistic approach, similar to what top finance recruitment agencies do. Emphasize your wholesome culture, ample vacation time, work autonomy, and progression opportunities. Discuss your vision for the future and how new sign-ups can do something meaningful with their time.
Tweak Your Culture
Millennials, Gen Z-ers, and even Gen X-ers don’t like Boomer corporate culture. The long hours and stress go against their objectives. Money is good, but peace and contentment are better.
Therefore, IT, accountancy, and finance recruitment need to change. Firms need to broadcast the benefits of their culture. The days of the overworked “junior banker” are coming to an end.
The following are several ways you can adjust your company culture to attract the most productive and talented individuals to your organization:
Be honest about working practices in your organization. Talk to recruits about the nature of the job and what they should expect. Discuss how IT or finance projects require them to be in the office until late sometimes.
Offset hard work with play. Make sure colleagues get a substantial break after a Herculean effort (if they want it). Celebrate a “job well done.”
Open judgment-free channels of communication with workers. Ensure people can come forward if they can’t cope or manage their time. Set up clear two-way feedback channels for management and regular staff.
Test whether your company culture is the right fit. Talented individuals might be productive, creative geniuses, but they won’t thrive if they don’t fit in.
Professional Recruitment Agency & Finance
You can also use a recruitment agency specializing in top IT and finance talent. Recruitment agencies can source talent for you faster than you can internally. They also offer multiple additional benefits, including:
- Securing higher-quality candidates with the relevant skills for the tasks you want them to complete
- Better candidate screening across all dimensions, including professional skills, personal characteristics, beliefs, and experience
- Gaining access to candidates specifically in the IT and finance industries
- More focus on your needs and ability to provide sage advice on who you should recruit and why
- Improved reach, including access to the “passive talent market” – individuals who aren’t actively looking for work but would be interested in positions you offer
Recruitment agencies have a knack for making your firm more appealing to candidates. They carefully sell your brand to talented individuals, telling them why they are a good match.
Offer Flexible Working
The banking sector borrowed its working model from factory production lines at the end of the 19th century and stuck with it ever since. Workers trudge to their desks at 9 am and leave between 5 and 6 pm five days a week.
However, such a prospect is unattractive for talented individuals. Why would they work for you when they can go to another employer who schedules office hours around them? A Remote Survey found that 76 percent of employees want flexible working hours.
Therefore, be more flexible. You could offer:
- Flexi-time (letting employees sign in and out whenever they want, as long as they meet their contractual hours every month)
- A 4-day-week, giving them Fridays or Mondays off
- Hybrid working, letting them come into the office for two or three days and then stay at home for the rest
- Fully-remote work where workers can arrange their own time as long as they complete assigned tasks
Recruiting in the finance & IT industry is challenging. But with the right approaches, you are more likely to be successful. Ensure you meet their needs, and they will reciprocate.