As cryptocurrency is becoming more popular and relevant in normal everyday life, it’s important to have the best people in the business to mine, sell, grow and market this relatively new financial venture. The sudden demand for these skills has led to an increase of jobs in the technology market per se. Even companies that are not centered in the technology industry are seeking out candidates with clear background knowledge in cryptocurrency. And let’s face it, this industry is exciting. Let’s take a look at what this new goldilocks industry is doing to the sales and tech hiring landscape.

How the Crypto Boom & Crypto Winter create opportunity

Adoption is growing across industries, even amongst established players: lifestyle brands (Nike, Adidas), payment providers (Visa), luxury brands (Burberry, LVMH, Porsche), tech and entertainment companies entering the metaverse race. According to Forbes companies like Geico, Uber, and eBay are searching for candidates with experience in “bitcoin” and “blockchain”. 

In addition, specialist Crypto companies are scaling fast. With this experience candidates are coming from all backgrounds into the technology job market. Candidates that have invested themselves in understanding more about Crypto are in a highly sought-after position in companies across the job market.

Candidates are also keen to join this industry and it’s often the #1 industry that they are interested in moving into. As recruiters in this space, we’ve seen a significant volume of hiring from crypto focused organisations in order to support their growth and business development plans. And we don’t see this stopping. 

With the right background and knowledge, people working in tech, sales or even financial sales and other related fields are moving into this space. This kind of adaptability leaves the door wide open for candidates to continue to learn alongside these emerging growth businesses. 

Skills to Have

Back in 2020, LinkedIn listed blockchain knowledge as a new and top hard skill to have. Cryptocurrency experience is one of the next skills on the list.

Tech professionals with specific hard skills in crypto are not currently easy to come by. Since the technology is so new, there are only a few really niche candidates that will be able to deliver the level of expertise. However, the skills that tech candidates already possess can often be transferred to the crypto job space. Same goes for Sales. There are lots of transferable skills that you can draw on and if you have interest in this area and want to learn more, this is the place for you. 

Benefits For Your Career

One of the biggest perks of learning skills in the crypto job market is the ability to constantly learn and grow. Having the opportunity to be involved in leading edge technology and emerging markets that are helping share the future of payments means lots of room for professional development. It also means a lot of opportunities that welcome creative thinking, as these companies continue to expand.

Times are Changing

This market is known for boom and bust. Our clients in the space are expecting non-linear market growth and crypto corrections and are planning for it. Few might still remember the crypto winter of 2018-2019: with so many NFTs issued in 2021 and 2022, we could expect some volatility in this space. 

From a recruiting perspective we don’t think you can ignore this sector and we expect hiring and interest in crypto to continue to grow, especially in the broader digital assets / alternative payments market. If you’d like to find out more about sales roles in the Crypto sector, we’d love to hear from you. And if your business is growing in this industry and is looking to attract some great talent, we think Finiti Search can help. 

Get in touch with us here.

 

Employment laws are ever changing, but many states in the US are leading the way on what we think could become universal employment practices. Recent changes include New York’s latest legislation change which requires employers to disclose a salary range on job listings. When listing a job, employers must determine a minimum and maximum salary range and make that information visible to applicants. In the past couple of years, New York also made changes to the law to ban employers from asking job applicants to provide their wage or salary history as a condition of employment.

While we know there are pros and cons to any legislation changes, here are some potential upsides to these new regulations.

1. Narrowing the Wage Gap

We’re all well aware that there is a need for pay equality among all employees – no matter if you’re a woman, a minority, or part of the LGBTQIA+ community. Just this year in the US (2022), Compaas reported that:

• Women earn 83 cents for every dollar earned by men.
• Black men earn 76 cents for every dollar earned by white men.
• LGBTQIA+ workers earn 90 cents for every dollar earned by non-LGBTQIA+ workers.

Disclosing salaries helps with the push for pay transparency. It nudges organisations to make sure they are paying everyone the same amount for the same role and allows those who have been blind to the discrepancies (because it’s been kept in secrecy) to become aware of the situation and advocate for themselves. Organisations can also utilse Finiti’s industry knowledge and benchmark, when putting together a business case for a new role. 

2. Knowing a Candidate’s Worth

When talking to a candidate, asking for their salary history could cause you to undervalue their worth. There are many factors that could play into a lower previous salary. For example,  there may have been share options or more benefits offered, the location of their prior job could be in an area with a lower cost of living, or they were part of a smaller company.

Longevity at a former place of employment is something that a prospective employer values, but a lack of job-hopping means the candidate did not benefit from the 11% pay rise they may have gained each time.

Especially with the increase in remote work, those with the best talent have a choice in where they work and undervaluing them may cause employers to lose out on a great candidate. At Finiti we always help candidates to know their worth through comparative roles (they will likely be interviewing for more than one role too). As a business, if you want someone to join your team, show them what they’re worth to your business.

3. Stay Competitive in the Market

Would you go to view a house to buy, without knowing the asking price? Chances are, probably not. So should you be applying for a job, when you have no idea what the salary benchmark actually is? Probably not.

While you don’t want applicants who are only motivated by money, you also don’t want your offer to come up short in a market that’s heavily favouring the candidates. By listing salary ranges on open positions, it shows the organisation has nothing to hide and is being upfront. It also encourages employers to make sure they’re benchmarking against other similar roles in the industry and this is often where Finiti step-in and help, helping to shape a highly competitive role, package and job description. 

4. Less Negotiation Between Parties

Being upfront with salary information allows the applicant to immediately determine if the position is right for them and meets their expectations. This means less guessing in the dark and less negotiation back and forth. This is a good thing for all parties involved, especially where time, energy and resources are of the essence.

Putting Our Recruiter Hats on

We can’t help but assume New York is leading the way in this area and more changes will ripple through more countries and markets. As recruiters, we’ve often advised our clients to look forward, rather than looking at historical salary data. Benchmarking in the market and for the role, is important to attracting the right candidate and skillset to match the role.

If this does become a legal obligation globally, it makes it even more important to start the conversation with your recruiter earlier to understand current market conditions and get up-to-date salary guidance.

If you’re a Fintech startup or firm that needs some guidance to make sure you’re offering the right package to attract the candidate you want, get in touch with us at www.finitisearch.org/contact-us

For the past 2 years, we’ve been closely watching the landscape in work environments change. From leaders rethinking how they interact and engage with their employees, to employees reassessing their day-to-day habits, all the way down to the interview process – the pandemic has undoubtedly changed the future of work. With travel restrictions being lifted and people going back to work with more flexibility than ever before, the question is – How do we resume?

As recruiters in the Fintech space, we’ve noticed that many of our clients who are hiring are still using technology to do interviews, even when they’re in the same city. And that technology offers some great advantages and benefits. Over the last 2 years, we’ve only had a small number of clients request in-person interviews with candidates. So has the interview landscape changed as a result of the pandemic, and has it changed for the better? Here’s our thoughts.

Catalysts for Change

As industry experts, we think the catalysts for change are many and varied, but actually mean we can do our jobs even better and provide a higher level of service as a result. 

Without a doubt the explosion of video conferencing tools and software have become the lifeblood of the modern workplace. It allows people to collaborate whether they’re in the same hallway or halfway across the world, and as far as recruitment, it certainly makes the process faster and more efficient. 

The Need for Speed

One of the main reasons why employers are missing out on top talent is because they aren’t acting on candidates fast enough. The need to act swiftly on candidates you think may be the perfect fit is crucial. Remote interviewing allows you to get a face-to-face conversation going within hours or even minutes of receiving someone’s application or making the initial contact if you’re headhunting. When you can show a candidate that you aren’t wasting any time and waiting around to see what other talent pops up, you have a better chance of securing that talent.

More Interviews, Less Time.

Recently we had a candidate for a very senior role speak to 4 different executives in 4 different interviews within one week. Had it not been for video conferencing, it may have taken weeks to schedule in-person interviews due to finding mutually convenient times in diaries. In the past, it would not have been deemed OK to have video interviews for such high-level roles. But now, it proves to be an efficient way to handle things.

Keep in mind that for higher-level roles, you could have 10+ interviews with people involved in different parts of the organisation before you’re hired, to really make sure the cultural fit is there. If you were to do in-person interviews, it could take weeks or even months to make them all happen. Nobody enjoys a long drawn-out interview process, and remote interviewing is a great solution for that.

Impact of Brexit and Remote First Organisations

Especially with Brexit, we’ve noticed that many companies with an E.U sales team are leaning towards a remote-first team. This addresses the changing requirements, but also allows employers to choose from a wider pool of global talent when hiring and reduces overhead business costs.

Most of the communication and most of the collaboration is happening online. So, for these organisations, conducting interviews the traditional in-person method doesn’t make sense. It’s more about assessing a candidate’s ability to perform well in a virtual environment. It also means that organisations are no longer hiring for likability alone, but are looking for new members that will boost the productivity of their team, are great communicators, and are able to problem solve on their own.

As Fintech recruiters that work closely with candidates and clients, we know the space well and are more than happy to help you recruit for Fintech sales roles or if you’re a candidate, find your perfect role. To learn more or to contact us, visit finitisearch.org. 

 

What motivates employers to use recruiters to fill roles? For us, it’s our extensive network we’ve spent 20+ years building up, our in-depth knowledge of the Fintech industry and the rigorous process we go through to find the perfect match. Our consultative approach to recruiting truly makes for an unparalleled experience.

Clients (employers) come to us because they know we help to improve the overall process and experience and can often speed things up, allowing them to focus on the right talent. However, too often employers come to us with their salary expectations already set and qualification criteria already set – which can be a big mistake.

Ready for the hard truth? Having the most disruptive technology doesn’t always mean you’ll end up on top.

We all know that the Fintech job market is growing at an exponential rate. And there’s no question about it – the candidates are calling the shots. With so many Fintech companies with open roles to fill, having the most disruptive and innovative technology might not be enough to attract and retain the best talent.

Additionally, with startup funding skyrocketing and big name players investing in their own Fintech branches, the competition for exceptional tech talent is extra hot. To excite the best candidates in the industry and be a top contender when they’re looking at multiple employers, it requires a more thought out approach to recruitment.

Cue in the magicians (AKA recruiters)!

As Fintech recruiters, we are happy to help with the heavy lifting and frankly, we love being a part of it. Starting the conversation with your recruiter before listing a role (even as early as 6 months before you plan to fill a role) can make all the difference in making a job more attractive to potential candidates and finding the perfect fit. The major benefits:

• Getting Industry Insight – One of the biggest reasons why candidates pass up and/or leave jobs is non-competitive salaries and benefits. As experts in the space, we know what the industry standards are and can help you keep up with current trends, so your organisation stays competitive. Being competitive = increased visibility, interest, and attention. Yes, that means it might be a good idea to talk to us before you have your salary budget set!
• Mapping a Clear Role with Proper Qualifications – We’ll work with you to create a job description that’s clear, concise, and accurately depicts what the role entails – so there’s no misalignment happening. Since we have the pleasure of understanding the candidate’s perspective as well, we know how to craft a message that will resonate with and target your ideal candidate. Usually when employers come to us with set qualifications and requirements for a job, they end up being the wrong ones and get adjusted later on after much time has been wasted. Because we have a better view of the candidate pool, we know what is realistic and more importantly, what is likely to be successful for the client. Want to know what your perfect candidate for a specific role may look like? We can help map this!
• Making the Hiring Experience Memorable –  If you’re serious about finding and retaining the best of the best, a thoughtful development of your recruitment strategy is crucial. By bringing in outside perspectives, we can bring in new viewpoints and help identify potential areas of improvement. We all know that first impressions matter, and this is relevant especially for new employees. Making sure the candidates you are interested in have a great experience from their first initial contact with your company matters, and we can help deliver that.
• Thinking About Succession Planning Early On –  We can help map core competencies and to plan a pipeline of talent, so you are building sales leaders for the future, with the skillsets your growing business needs and wants. 

Starting the conversation with your recruiter early in the hiring process can only lead to a more attractive job and may open your eyes to opportunities you may be missing out on.

As a niche recruiter, we are well-versed in the Fintech industry and can help you lay an effective recruitment foundation. Finiti Search is here to help your organisation hire quickly and efficiently. For more information visit finitisearch.com/client