18 November 2020

Why Employer Branding Is Important In Attracting FinTech Talent

Written By Storm2 in Recruitment

Why Employer Branding Is Important In Attracting FinTech Talent

Staying ahead of the competition has never been more difficult for FinTechs. With the industry expanding left, right and centre, employers are constantly focusing on ways to stand out from the competition. By creating and developing an identity specific to the company’s core values, you can personalise your brand, which in turn builds rapport and establishes trust with your consumer.

Since you want to hire the best fintech talent in order to get an edge on competitors, employer branding plays a crucial role in building and maintaining a successful company. Nine out of ten candidates are more likely to apply to a job when it’s from an employer brand that’s actively maintained1. Employer branding focuses on the promotion of the company for recruitment purposes. Though it still entails similar tactics used in commercial branding, the target audience shifts to potential employees as it works to offer unique proposals to the company and showcase positive working aspects. 

With staff currently experiencing ongoing adaptations to their work environments, potential employees are no longer looking for the bare minimum work benefits, they want to feel supported and of value to the company. For this reason, it’s important to make smart, innovative decisions when developing your employer brand and steps must be taken to prove to candidates that you are the best company to work for. One way to convey positive assets is by connecting with a candidate on an emotional level.

Take Enova for example, the Chicago-based FinTech that helps ‘hardworking people get access to fast, trustworthy credit.’ Enova encourages potential employees that they can be trusted using their ‘work with us’ video, which gives and inside look at the company. The video features Enova’s current members of staff giving individual testimonials about what it’s like to work at the company. Candidates are 3x more likely to trust a person than the company itself to provide credible information on what it’s like to work there2. With this information, it is easy to see why Enova’s marketing tactic here is a powerful tool in their employer value proposition (EVP).

Before the most talented applicants join any company, they’ll take time to evaluate whether their own requirements are being met. For employer branding to be executed successfully, you need to advertise the advantages to working with you and discuss what you can offer the candidate, showing an empathetic understanding of what potential staff want out of a career.

A company that does this well is the InsurTech Clearcover. A frequently asked question by candidates in job interviews is around career prospects and growth opportunities within a role. Clearcover recognised the importance of this and clearly laid out their career progression options in a 2019 article, stating that ‘the company frequently promotes from within.’3 Whilst catering to the candidate’s needs, Clearcover also highlight the growth of the company itself, boasting that it has been ‘sprouting upward.’ By selling the company to an applicant whilst offering broad career progression, Clearcover demonstrates its impressive EVP.

With 75% of job seekers considering an employer’s brand before even applying for a job, it’s vital to take feedback from your own employees to make sure your website and job adverts accurately represent your internal brand and employment offering. The agile nature of the FinTech industry, and the working world at large, means that you should always strive to understand what your employees want from their employer with regular employee satisfaction surveys/meetings.

Current employees are the greatest brand ambassadors for your employer brand and most companies offer a referral scheme to their staff. Sticking to key company principles and pushing positive development in the workplace will keep current employees happy, which in turn means they will be more like to spread the word about what a great employer you are. Word of mouth is the strongest tool for employer brand. This, combined with a persuasive EVP’s, is how the best FinTechs attract the best staff.

1https://resources.workable.com/stories-and-insights/2016-social-recruitment-trends-forecast

2https://business.linkedin.com/content/dam/business/talent-solutions/global/en_us/c/pdfs/ultimate-list-of-employer-brand-stats.pdf

3https://www.builtinchicago.org/spotlight/2019/05/14/clearcover-insurance-chicago-careers

Up Next ...
05 November 2024

MeaWallet Introduces New Features to Support Click to Pay, Enabling Safer, Faster Online Shopping

MeaWallet product updates support businesses facing mandatory regulatory requirements that state they must support Click to Pay

05 November 2024

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

This partnership will enhance payment efficiency and security for HyperGuest’s global network of travel and accommodation partners with Nium’s virtual card solution...

05 November 2024

Mastercard's 'Pay Local' Brings Global Payment Access to Digital Wallets

This initiative particularly benefits travelers, as it eliminates the need to preload prepaid accounts, making global payments more seamless

04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

More in Recruitment

Posted By The Community

David Attenborough voted the UK's dream boss

11 January 2022

Fresh YouGov data reveals the nation’s dream and nightmare bossesA brand new YouGov poll has reveale...

Written By: Vestd

Posted By The Community

How to protect against staff loss during ‘the great resignation’. New research offers guidance.

06 October 2021

You can’t fully insulate yourself from the wider movement going on, but you can reassess your suite of benefits at the earliest to ensure that you are not missing a tri...

Written By: Vestd

Just how much do FinTech execs get paid?

24 May 2021

Sifted teams up with Storm2 to crunch the numbersIn Brief:UK ...

Posted By The Community

Pollinate strengthens leadership team with appointment of Managing Director in Australia

04 May 2021

Pollinate, the global software business that partners with banks to help them deepen and extend rela...

Written By: Pollinate

Thought Leadership Recruitment

Financial Services: Preparing for tomorrow's workforce, today

15 July 2019

How we work, the place of work within our lives and even what we mean by work are being transformed....

There are no Events in this category