{"id":12671,"date":"2019-04-24T18:52:23","date_gmt":"2019-04-24T18:52:23","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=12671"},"modified":"2019-04-24T18:52:23","modified_gmt":"2019-04-24T18:52:23","slug":"how-startups-can-survive-the-fintech-talent-drought","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-startups-can-survive-the-fintech-talent-drought\/","title":{"rendered":"How startups can survive the FinTech talent drought"},"content":{"rendered":"

There is an undeniable shortage of adequate skills in the FinTech world, especially in terms of design and development, leading to a so-called \u201ctalent war\u201d, especially between startups and traditional financial heavyweights. While these traditional financial heavyweights have the resources and are starting to develop the drive for FinTech solutions, startups are important for driving innovation. Here are 10 suggestions for startups to survive the FinTech talent war:<\/span><\/p>\n

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  1. <\/b>Make a cool workplace<\/b> \u2013 workplace environment is key for many involved in this sector. Google set a massive benchmark; try to emulate it and also come up with fresh ideas to keep talent happy and loyal.<\/span><\/li>\n
  2. <\/b> Offer to make them \u201cbig cogs in a little machine\u201d <\/b>\u2013 rather than spending years working through a corporate hierarchy, offer talent the chance to take their concepts straight to the top and into development.<\/span><\/li>\n
  3. <\/b>Remember that chemistry matters <\/b>\u2013 a positive working environment in crucial to attracting and maintaining talent. Ensuring the right mix of cohesion among personalities is a big part of this.<\/span><\/li>\n
  4. <\/b>Don\u2019t forget rewards and recognition<\/b> \u2013 while startups often can\u2019t afford to compete with the financial packages offered by traditional players, rewards and recognition (e.g. shares in the company) for work well done will keep talent engaged and happy.<\/span><\/li>\n
  5. <\/b>Be credible<\/b> \u2013 the bigger the name, the more credibility. It is important to for startups to get their name out in the marketplace as quickly and often as possible.<\/span><\/li>\n
  6. <\/b>Be transparent<\/b> \u2013 talent needs to know what they are getting into. Being open and honest about expectations will build the foundation of a strong, loyal relationship.<\/span><\/li>\n
  7. <\/b>Keep in mind that talent breeds talent<\/b> \u2013 existing talent acts as ambassadors, sharing their excitement and positive stories. Considering the tight-knit FinTech community, word-of-mouth is an important endorsement.<\/span><\/li>\n
  8. <\/b>Open up access to training<\/b> \u2013 good talent isn\u2019t happy with stagnation; they have a mind thirsting for more. That said, access to ongoing training is something that should be incorporated where possible.<\/span><\/li>\n
  9. <\/b>Leverage their energy <\/b>\u2013 the next generation of talent is bursting with energy and a sense of competition. Larger corporations can compress this and slow them down, which is a turn-off for talent. Don\u2019t drain their ambition, leverage it.<\/span><\/li>\n
  10. <\/b>Find talent with a shared passion<\/b> \u2013 vision and passion are tangible in a small startup environment. Make sure the talent you invest in matches your own passion for what you want to accomplish. <\/span><\/li>\n<\/ol>\n
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