June 24th, 2019 | Industry News
Everything moves faster these days. Recruitment is no different, but systems don’t always keep pace. We’ve chosen a case study to show how the best recruitment CRM actively speeds up recruitment and gives agencies the lead in effective recruitment.
How to recruit in FinTech
A recent Government report into the UK FinTech market reveals that this sector produces £6.6B per annum, 42% of personnel are from overseas and women make up a third of the total workforce. In another study 78% of vacancies fell into five categories: software design and engineering, operations, data and analytics, sales and marketing and less than 10% of those vacancies were in the latter two areas, so this is a tech heavy recruitment field.
Successful FinTech recruitment strategies
1. Interning – using recruitment agency software to identify potential interns is a superb way of funnelling candidates into the sector. It allows undecided individuals the chance to ‘try out’ a business sector without commitment, looks great on their resume and usually results in a high calibre candidate returning to the field once they’ve graduated.
2. Funnelling – Recruit So Simple’s applicant tracking system is the ideal software to support long term recruiting. This is the process that allows an individual to send in their CV by email, even if a company isn’t hiring. By creating this talent pipeline, companies can inform candidates of upcoming roles and even help them tailor their studies to a future area of FinTech demand.
3. Culture sharing – company blogs and presentations can be vital to showcasing a small FinTech organisation to potential hires. It allows a company to demonstrate that it is on top of developments and share the organisational culture, ensuring that future applicants are a good fit. By keeping an email list and nudging potential hires each time they blog or post, using Recruit So Simple’s automation feature, close contact is kept with high quality candidates.
How legislation can impact recruitment
From the USA we have a cautionary tale about legislation and hiring. The American Trucking Associations have claimed that the legislation of recreational marijuana has made it difficult to recruit drivers. While low pay and challenging working conditions are pointed to by unions as the key problems facing recruiters, the lobbying organisation says that a major reason for driver shortages is that while marijuana may be legal, driving under its influence isn’t. So recruiters find that as soon as they tell potential drivers that they may face drug tests, they don’t want to proceed with their application. We’re definitely not in that state yet in the UK, but Brexit legislation, for example, is likely to put new legislative requirements on recruiters. Online recruitment software needs to be flexible and intuitive to be able to handle new demands of this nature.