3 Reasons Your FinTech Company is Having Hiring Struggles

Businesses in Finance Technology have progressed by leaps and bounds  in the digital era. You would think that such an expansive and well-rounded industry would have no trouble finding employees. However, the more FinTech evolves, the greater the need for more people in the workforce—at a rate with which the marketplace cannot keep up. 

Finding the right person for the job is complicated in these times. While technology is advancing and more people are inclined to take tech-savvy jobs, there are still quite a few challenges even for people that would otherwise fit the role perfectly. Here are three of the most common reasons you might struggle to find the right person for the job.

3 Reasons Your FinTech Company Can’t Find Right Talent

1.  Unreasonable Expectations for Emerging Roles

As FinTech continues to grow and evolve, new roles are created. Specialists have become more in-demand, which makes finding the right talents difficult to find. That is why one of the number one rules of recruitment is setting reasonable expectations for applicants.

For example, it would be quite a reach if you’re looking for a specialist with 10 years of experience in blockchain development plus another 10 years in app development. A specialist cannot be two roles at once if you insist on calling them “specialists.” 

2. Competition with Other Companies is Fierce

This is the problem that most small enterprises are facing when hiring people. There are plenty of even bigger companies with higher pay to attract the candidates you want. The most agreeable rate that a small tech company can afford is that of a fresh graduate, which could mean you need to train them on the job.

But the advantage that small companies have is that there are a select few workers who are tired of working for big companies and want something more manageable.

3. The Pandemic  Both Opening and Hindering Opportunities

The opportunities brought about by the pandemic is that companies can now work remotely, which means now you can welcome talents from across the globe. The FinTech industry is one that flourishes when more customers are online. And where there is a demand, more students would be attracted to pursue the field and join the workforce.

But a health crisis affects different people in many ways. Others have to deal with personal matters. Plus, not everyone can afford the luxury of learning IT courses online let alone afford Wi-Fi and a working desktop. You must figure out a way to address these issues so that you can 

Conclusion

While there are plenty of people out there looking for a job, not all applicants can necessarily fit the role. Competent applicants can also find themselves opting for seemingly better benefits. And with a world health crisis still raging all around us, there are other problems and factors that workers have to deal with. But the search doesn’t have to stop. There are plenty of ways to find the rock star employee you’re looking for. 

It’s difficult to find the most qualified people for IT positions with every factor taken into consideration. To save you time and energy, look for IT staffing services to narrow down the recruitment process for you. Technical Paradigm offers recruitment services for IT roles for startups and large corporations. Find talent with us today!