How financial institutions are finding new ways to attract top tech talent
Technology isn’t only disrupting business models in financial services; it’s transforming the skills sets of the tech professionals that banks need to recruit and retain in major financial centres like London, New York, Singapore and Hong Kong. On the eFinancialCareers website, technology is the biggest single sector for vacancies, with more than a third of our total jobs.
But as financial institutions intensify their focus on technology hiring, they face increasing competition from other employers targeting people with the same skills. To discover how employers in the finance sector can attract quality technology professionals, download our new report, Winning the War for Technologists.
The report identifies 13 ways that financial institutions can improve their recruitment strategies for tech candidates. Here’s a taster:
1. Review the speed of your hiring
Banks tend to take longer than tech firms to hire, but tech pros typically have several job options, so being first with an offer may decide the outcome.
2. Reduce interview rounds
Under a “candidate matching” approach, generic interviews/vetting are done up front, followed by a discussion to match the applicant to a suitable team. Some banks run “super days” to conduct scores of initial interviews in one go.
3. Target diverse talent
Initiatives like referral programmes and diverse interview panels can help you expand your talent pool. But they must be supported by an inclusive workplace culture to avoid new hires becoming disenchanted.
4. Be honest about your tech capabilities
When interviewing technologists, be honest about what your bank can and cannot do. If you promote the bank as a “tech firm” when in fact tech is still a support function, candidates will call your bluff.