Whether you’re a candidate looking for your next role or a business trying to find the perfect new team member, 2023 has been full of challenges and opportunities.
We look back on some of the main themes that have emerged in the Fintech talent market throughout 2023 and how they might continue to influence and shape the market in the new year.
Booming sub-sectors offer strong opportunities
Doom-and-gloom headlines overlook some incredible growth and opportunities in thriving Fintech sub-sectors.
The challenges and risks of an unstable market are creating strong growth opportunities for Fintech firms that help businesses manage risk, stay compliant, and keep existing customers happy.
The focus on business efficiencies has seen many businesses look for more automated solutions, and roles in AI-focused Fintechs are likely to continue growing throughout 2024 as currently manual processes, like credit decisioning, gets a mid-decade makeover.
The in-demand skills of 2023
Throughout 2023, there’s been a gentle expansion of what falls under the “Sales” remit.
With all business spend under the microscope, companies are increasingly looking to keep, optimise, and upsell to the customers they already have.
According to Bain & Company, a 5% increase in customer retention can increase profits by as much as 75%. The result is a surge in demand for Account Managers with the right skills to build and nurture relationships.
With firms becoming more risk averse in times of uncertainty, there’s also an interest in hiring people with great data analysis skills.
Revenue Operations (RevOps) roles have been on the rise as companies look to dig into their data, find efficiencies, and to take a more joined-up approach to sales and marketing.
A candidate-rich market
A pause on hiring in some sub-sectors has led to candidates applying for more opportunities than usual.
The knock-on effect is that hiring companies are receiving many more candidates than they’d expect, giving the impression of a candidate-rich market.
This can create a false sense of security for hiring employers, and throughout the year we’ve seen firms increasingly miss out on top talent with a drawn-out recruitment process that sees candidates snapped up by the competition.
Our advice to candidates is to only apply for opportunities that are a great fit with your skills, interests, and values. Reducing the number of applications you’re juggling will free up more time to create high-quality compelling applications.
For hiring managers, dig into someone’s motivations for applying early on in the application process, or work with a trusted recruitment partner to screen out those who are looking for any job, not your specific role. When you find a great candidate, act quickly to make sure it’s your team they’re joining.
Our talent network is an incredible source of insight into the perspectives and experiences of Fintech top talent.
We’re the only Fintech sales specialist recruiters, and over the last twenty years we’ve built up a strong network of candidates and companies who trust us to build their teams and find a great match.
If you’re interested in becoming part of or tapping into our Fintech sales talent network, get in touch with the Finiti team today.