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Blockchain’s Financial Revolution: New Frontiers in Fintech and Recruitment

| 4 minutes

Blockchain technology is revolutionizing industries, with fintech leading as one of the most impacted sectors. As the 5th most influential technology globally, blockchain is disrupting financial services in powerful ways. It promises enhanced transparency, privacy, and security while streamlining business processes. Far from a fleeting trend, blockchain is evolving rapidly and becoming a cornerstone of the financial future.

Shaping Recruitment in Fintech

The rise of blockchain has introduced a shift in fintech recruitment. The demand for blockchain expertise is higher than ever, but the talent pool is relatively small. Few high-level candidates possess deep blockchain experience, which has slowed the industry’s growth to some extent. However, this gap presents an exciting opportunity for professionals looking to advance within their fintech careers. With blockchain evolving constantly, even those with limited experience can become leaders in the space as they develop their skills and knowledge around the technology.

Whilst there aren’t 20 years of experience to draw upon, the industry’s fast pace and emerging nature make it fertile ground for dynamic talent to step in and shape its future.  

Blockchain’s Impact on the Financial Sector

Blockchain is reshaping financial institutions in unprecedented ways, creating an entirely new market rather than replacing existing systems. It has removed traditional barriers, offering enhanced security, eliminating middlemen, and boosting transparency. Fintech companies are in a race to develop blockchain platforms that cater to unique transaction types across various contexts. For example, Visa and MasterCard, where transaction speed and cost are critical, are both investing heavily in blockchain to improve the efficiency of cross-border payments. Blockchain reduces settlement times from days to minutes, enabling these companies to offer faster, more cost-effective services, especially in areas where traditional banking infrastructure is lacking.

For consumers, blockchain offers faster transactions, lower costs, and improved transparency. While traditional financial institutions are unlikely to disappear completely, blockchain allows them to reduce significant portions of their operating costs, resulting in more affordable and accessible services.

Blockchain in Action

In management and operations, blockchain streamlines internal processes and information sharing by creating secure, shared ledgers for business-critical information. This reduces administrative overhead and enhances the accuracy and reliability of data.

In digital contracting, blockchain is revolutionizing how agreements are executed. Companies like Accenture are implementing blockchain-enabled smart contracts, which automatically execute contract terms when conditions are met. These smart contracts ensure transparency and security in contract revisions and activities, reducing the potential for disputes and errors.

Blockchain’s impact extends to the realm of cryptocurrencies like Bitcoin and Ethereum, which rely on blockchain to process and record transactions securely. The transparency and security of these blockchain networks ensure that each transaction is irreversible and viewable by anyone, providing a robust and trustworthy platform for digital currencies.

The Potential of Blockchain Technology

The potential of blockchain extends far beyond fintech. It can transform global industries by improving data handling, security, and efficiency in business processes, making it an ideal solution for industries ranging from supply chain management to healthcare. While some may feel uncertainty around the long-term sustainability of cryptocurrencies and the complexity of blockchain, these hurdles are part of an evolving landscape. Blockchain is constantly being refined, and many believe it will ultimately change for the better, becoming even more reliable, accessible, and secure. 

For fintech professionals, staying ahead of blockchain developments is essential. The technology will continue to shape itself in the coming years, opening new avenues for growth and innovation. As blockchain grows and adapts, the professionals working within the space need to as well.

Finiti has extensive experience hiring sales leaders and their teams in blockchain-related tech firms. Finiti was responsible for hiring the UK, Europe, and US sales teams for Earthport, the cross-border payment solutions company acquired by Visa. Right now, we are working on a number of relevant roles in the space, including in the crypto and digital assets market, where we are hiring salespeople in Europe.

Are you looking to expand your fintech sales team? Let us help you grow and thrive. Get in touch with us today to explore how Finiti Search can help empower your team.

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Will AI Replace Recruiters In The Near Future? – The Role of Artificial Intelligence (AI) in Fintech Recruitment

| 3 minutes

Artificial intelligence (AI) is rapidly transforming various industries, and the fintech sector is no exception. Fintech uses technology to enhance and automate financial services, making them more efficient and accessible for users. 

In 2023, the AI market in fintech was estimated at $42.83 billion, growing over $44 billion in 2024. With a compound annual growth rate of 2.91 percent, the market size is forecasted to exceed $50 billion by 2029. 

AI’s impact on fintech recruitment has been profound through streamlining processes and enhancing efficiency. However, despite technological advancements, the importance of human interaction in recruitment remains undeniable. 

Revolutionizing Recruitment with AI:

Within the fintech sector, artificial intelligence has revolutionized the recruitment process in several ways:

  1. Talent Sourcing: AI-driven tools like Arya, Fetcher, and Vervoe have made talent sourcing more efficient. Algorithms can sift through vast data to identify candidates who match specific criteria. This reduces the time and effort required by human recruiters to find suitable candidates.
  2. Candidate Assessment: AI can assess candidates’ skills and qualifications through various methods including online assessments, video interviews, and even analyzing social media profiles. These tools help recruiters make more informed decisions by providing insights into a candidate’s capabilities.
  3. Skill Matching: AI platforms can match candidates’ skills with job requirements more accurately. By analyzing both job descriptions and candidates’ profiles, AI can identify the best fit for a particular role, ensuring a higher success rate in hiring.

The Importance of Human Interaction:

Despite the significant advancements in AI, human interaction remains vital in fintech recruitment, particularly within fintech sales. Here’s why:

  1. Interpersonal Skills: Sales roles in fintech require strong interpersonal skills, which AI cannot replicate. Building relationships, understanding client needs, and effective communication are all areas where human recruiters excel.
  2. Cultural Fit: Determining a candidate’s cultural fit within a company is crucial for long-term success. Human recruiters can gauge personality traits, values, and attitudes during interviews, ensuring that new hires align with the company’s culture.
  3. Negotiation and Persuasion: The recruitment process often involves negotiations, whether it’s about salary, job responsibilities, or other terms of employment. Human recruiters possess the negotiation and persuasion skills necessary to reach mutually beneficial agreements.
  4. Personal Touch: Candidates appreciate the personal touch that human recruiters provide. Building rapport and trust with candidates can enhance their overall experience and leave a positive impression on the company.

The Balanced Approach:

To maximize the benefits of AI in fintech recruitment, a balanced approach is essential. AI can handle repetitive and time-consuming tasks, allowing human recruiters to focus on more strategic and interpersonal aspects of the hiring process. By leveraging AI for data analysis, candidate screening, and skill matching, human recruiters can enhance their decision-making and improve overall recruitment outcomes. 

AI is undoubtedly transforming fintech recruitment, making it more efficient and data-driven. However, the value of human interaction cannot be overlooked. In a tech-driven world, the human touch remains crucial for building relationships, understanding candidates’ unique qualities, and ensuring a cultural fit within organizations. By combining the strengths of AI and human recruiters, fintech companies can achieve a more effective and holistic recruitment process, driving growth and success in the industry.

Is your fintech sales team eager to expand and navigate? Let us help you grow and thrive. Get in touch with us today.

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The UK Continues To Dominate the Fintech Industry

| 3 minutes

Through leadership in innovation, growth, and market influence, the UK has always been a global financial hub, but in recent years, it has solidified its status as a powerhouse in the fintech industry.

A Strong Presence in Fintech Rankings

According to the Sifted inaugural leaderboard, which ranks the top 100 fastest-growing startups in the UK and Ireland, nearly a third of these startups are in the fintech sector because of the vibrancy and rapid expansion within the region. Notably, out of the top ten most highly valued soon-to-be unicorns, eight are headquartered in the UK (Financial Times’ Sifted, May 2024). Also, fintech was the most prolific verticals in the ranking, with 31 entries, surpassing the 25 B2B SaaS startups that also made the list.

Areas of Innovation in UK Fintech

The UK’s fintech scene is diverse, covering various sub-sectors such as payments, lending, and insurtech. Each of these areas has seen significant change and growth, contributing to the overall strength of the industry.

Payments: The UK is home to several groundbreaking payments startups that are revolutionizing the flow of transactions. Companies like Revolut and Wise have made international money transfers faster, cheaper, and more transparent, attracting millions of users globally.

Lending: Fintech startups in the lending space are leveraging technology to provide more accessible and flexible lending solutions. Companies like Funding Circle have simplified the process for small businesses to obtain loans, bypassing traditional banking hurdles and offering more competitive rates.

Insurtech: The insurance industry has also seen revolutionary changes within insurtech startups like Marshmallow, who is using technology to offer personalized insurance, streamline processes, and enhance customer experience. These companies are making insurance more accessible and tailored to individual needs.

Factors Driving the UK’s Fintech Dominance

Several factors contribute to the UK’s leading position in the fintech industry:

  1. Regulatory Environment: The UK has a progressive regulatory framework that supports fintech innovation. The Financial Conduct Authority (FCA) has been proactive in creating a conducive environment for fintech companies to test and launch new products, such as through its regulatory sandbox initiative.
  2. Access to Capital: The UK possesses a strong venture capital ecosystem, providing funding opportunities for fintech startups. This access to capital has been crucial in enabling these companies to scale rapidly and compete globally.
  3. Talent Pool: The UK attracts top talent from around the world, thanks to its prestigious universities and vibrant tech community. This diverse talent pool is essential for driving transformation and maintaining the country’s competitive edge in fintech.
  4. Global Financial Hub: London, in particular, is the top global financial centre in the world according to the 2024 City of London Benchmarking analysis. This status provides fintech companies with unparalleled access to financial institutions, investors, and a global customer base.

Challenges and the Road Ahead

Despite its strengths, the UK fintech sector faces challenges, including the need to navigate post-Brexit regulatory changes and increasing global competition. Also, while the UK continues to produce highly valued startups, this year’s new unicorns have emerged from outside the region, indicating that the competition is increasing.

However, with its strong foundation and continued focus on innovation, the UK is well-positioned to maintain its leadership in the fintech industry. By leveraging its strengths and addressing emerging challenges, the UK can continue to be a fertile ground for fintech startups that shape the future of finance.

The UK’s dominance in the fintech industry is a testament to its boldness, supportive regulatory environment, and powerful ecosystem. As fintech continues to evolve, the UK is prepared to remain at the forefront, driving advancements in payments, lending, insurtech, and beyond. For fintech professionals and startups, the UK offers a dynamic and thriving environment to grow and succeed.

With our head office in the UK and a global footprint, if you are looking to grow your sales team or expand into new regions, get in touch with us. We’d love to hear from you. 

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The Role of ESG Integration in Fintech’s Evolution: Navigating Opportunities

| 4 minutes

In recent years, Environmental, Social, and Governance (ESG) principles have emerged as key pillars guiding decision-making processes, reshaping investment strategies, product development, and risk management practices. This shift not only reflects a growing societal consciousness but also presents fintech firms with an array of opportunities and risks as they navigate the integration of ESG criteria into their operations.

ESG in Fintech:

The rise of ESG principles within fintech is not merely a trend but a fundamental reevaluation of values and priorities. According to recent studies, 54% of corporate directors acknowledge the direct link between ESG issues and their company’s strategy. This indicates a gradual recognition of the importance of strategic ESG considerations with room for further adoption and implementation.

Opportunities (and Risks) for Fintech Companies:

Integrating ESG factors into fintech operations presents numerous opportunities. By aligning with ESG initiatives, companies can foster innovation, attract socially responsible investors, and enhance brand reputation. Also, leveraging this criteria enables fintech firms to address societal and environmental challenges while generating sustainable long-term value.

Ignoring ESG considerations poses risks including administrative scrutiny, reputational damage, and loss of competitive advantage. 49% of investors share that they would no longer invest in companies that aren’t taking action on ESG issues. In an era where consumers and investors increasingly demand transparency and accountability, overlooking ESG factors, prioritization of sustainability and social impact can lead to detrimental consequences like legal repercussions and fines.

Technological Solutions for ESG Integration:

From ESG data analytics to impact investing platforms, sustainable finance products, and ESG risk assessment tools, technology is empowering financial institutions to make informed decisions and drive positive impact. These technological solutions not only facilitate ESG integration but also enable companies to measure and track their sustainability performance effectively.

A great example of this is Clarity AI, a dynamic fintech startup in the ESG sector. Strongly values-driven, Clarity AI sought diverse candidates who shared their vision of having a positive impact on the world through a focus on sustainability. 

Machine learning is at the heart of Clarity AI’s market-leading sustainability tech, allowing it to regularly analyze more than 2 million data points. The platform’s customizability, enabling users to report on as much or as little as needed and break down performance against SDGs at a product or service level, has been instrumental in the firm raising $80 million since 2017.

Best Practices for ESG Integration in Fintech:

Within the fintech industry, the market for ESG has a projected growth rate of around 20% compound annual growth rate (CAGR) in 2024. For fintech companies seeking to embed ESG considerations into their business strategies, adopting best practices is essential. Establishing clear ESG policies, conducting materiality assessments, setting sustainability goals, and engaging stakeholders are paramount. Case studies of fintech firms that have successfully implemented ESG initiatives can provide valuable insights and serve as guiding examples for others in the industry.

The integration of ESG principles represents a pivotal moment in the evolution of fintech. By embracing ESG criteria, companies can not only drive innovation and attract investors but also contribute to a more sustainable and equitable future. As the market for ESG fintech continues to grow, fintech firms must seize the opportunity to lead by example, recognizing that long-term success lies in the alignment of financial performance with environmental and social impact.

As fintech companies navigate this evolving landscape, embracing ESG principles is not only a strategic imperative but also a moral obligation, ensuring that financial innovation is synonymous with sustainability and societal impact.

Is your fintech sales team eager to expand and navigate the evolving landscape of ESG integration? Let us help you grow and thrive. Get in touch with us today to explore how Finiti can help empower your team to seize new opportunities.

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Breaking Barriers – The Rise of Women In Fintech

| 3 minutes

In the ever-evolving landscape of finance and technology, one undeniable truth emerges: diversity drives innovation. As the Fintech industry continues its upward trajectory, addressing and bridging the gender gap grows more urgent. Fortunately, strides are being made to shatter stereotypes and pave the way for a more inclusive future.

Despite its booming success, Fintech has combated a glaring gender disparity. Women comprise only 4% of CEOs, 18% of executive committee members, and 7.7% of entrepreneurs. However, within these figures lies a potential for positive change — a collective commitment to improvement.

Historically entrenched biases and stereotypes have hindered women’s progress, creating barriers to entry and advancement. However, the tide is turning as companies increasingly recognize the value of diverse perspectives. Companies are starting to see the benefits of workplace diversity when evaluating profitability, productivity, employee recruitment and retention, job satisfaction and performance, and innovation and creativity.

“10% of salespeople are women and more than 75%  of our clients request to see a diverse range of candidates as a key part of working together,” says Kate Sharland, Co-Founder and Client Director at Finiti. 

“We continue to see a gap in industry experience at leadership level between male and female candidates, which we are continually trying to address and change for the future,” explains Sharland.  

Finiti’s clients, in particular, are driving this change. With a heightened emphasis on diversity and inclusion, they are insistent on interviewing and inclined to hire female and diverse candidates. This shift in client preferences not only reflects a moral imperative but also a recognition of the benefits that diverse teams bring to the table. 

Another contributing factor to the gender gap in Fintech is the disproportionate representation of women in STEM subjects. While strides have been made to encourage more women to pursue careers in technology, there is still much work to be done. Initiatives aimed at fostering interest in STEM among young girls and providing support and mentorship to women in tech are crucial steps in addressing this imbalance.

Additionally, the issue extends beyond recruitment to venture capital funding. Male-led startups often receive preferential treatment, perpetuating a cycle of male dominance in entrepreneurship. However, as awareness grows around the importance of diversity in driving innovation and profitability, investors are increasingly recognizing the value of female-led ventures.

The path to gender parity in Fintech may be paved with challenges, but the momentum is undeniably building. By dismantling systemic barriers, championing diversity, and fostering an inclusive culture, we can unlock the full potential of the industry. As we look at successful women like Cristina Junqueira, Co-Founder of Nubank, and Emilie Choi, President and COO of Coinbase, let us find motivation in our futures and remain committed to creating a more equitable and vibrant fintech ecosystem for all. Together, we can transform barriers into bridges and pave the way for a brighter, more inclusive tomorrow.

 If you are interested in supporting female talent in the fintech industry, some organizations advocate for policies to translate awareness into tangible change. Female Innovators Lab and 100 Women in Finance are great resources.

At Finiti, we are proud to be a women-owned and led business. Diversity and inclusion are not just buzzwords; they are fundamental principles that guide us and shape us into who we are. Our commitment to championing female talent and empowering women in Fintech is unwavering.

If you are looking to grow your Fintech sales team, get in touch with us.

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Smart Job Hunting: How to Recognise Red Flags in the Hiring Process

| 5 minutes

When you’re looking for a new job, it’s easy to put a lot of pressure on yourself to make a great impression with potential employers. 

But when it’s done well, the recruitment process can and should be a two-way street. 

Changing jobs is a big upheaval, and it’s important to make the right move. Almost a third of employees have quit a job within the first six months at some point in their career. 

But how can you tell whether you’re stepping up to your dream role or into a nightmare before you hand in your notice and sign on the dotted line?

Here are eight red flags to watch out for. 

  1. A Chaotic recruitment process 

Last-minute interview requests, rescheduling, or a hiring process that seems either rushed or very slow are all potential red flags. 

An interview process takes time and effort, and you want to see that reflected back in a structured, proportionate recruitment process.

Put this to the test by asking for details of the recruitment process and timings. Employers that are focused on finding great people will invest time in planning out the process upfront. 

  1. A lack of communication 

The way a company communicates before you’re part of the team gives a good idea what they’ll be like to work for. 

A shocking 75% of job hunters have been ghosted by a potential employer or their agency – even after an interview. 

Clear, friendly, and timely communication, as well as a dedicated point of contact throughout the process is a good sign. 

  1. A vague job description

Almost three-quarters of hiring managers say they provide clear job descriptions, but only 36% of candidates agree. Many employers don’t provide a job description at all. 

Hiring Managers or recruiters should be able to really clearly explain the role and its responsibilities, going beyond the published job description to paint a picture of what the role and company are like. 

In startups, a CEO or founder is often the one defining these roles and in many instances, there may be an element of the unknown for a new strategic hire or new team. As recruiters, our background can help to solidify what’s required and that finer detail. 

Delving into role nuances, immediate priorities, and cultural fit is essential for both hiring managers / recruiters and candidates. This clarity facilitates informed decisions, fosters trust, and aligns expectations for a successful partnership.

This allows both sides to figure out if you’re a good fit, avoiding wasting valuable time if not.

  1. No interest in your motivations 

The recruitment process is about much more than whether someone can do the job. It’s about finding a great fit, and 57% of candidates see a lack of shared values as a deal breaker. 

If a potential employer isn’t asking about why you want a new job and what you’re looking for from the move, that’s a red flag. 

Understanding a candidate’s motivations provides insight into their alignment with the company’s mission and culture. Ignoring this aspect can lead to mismatches down the line.

Effective recruitment involves mutual understanding and alignment of the opportunity to grow. Employers should demonstrate genuine interest in candidates’ career aspirations, ensuring a symbiotic relationship where both parties can thrive. 

  1. Reluctance to talk about pay and benefits

Only around 12% of job listings in the US include the salary, so it’s important that potential employers are happy to have an open, transparent conversation about remuneration once you’re in the recruitment process. 

This is especially true for sales roles, where different types of bonus structure can significantly impact the final take-home. 

  1. Not being open to questions 

Not making time for or half-hearted answers to candidate questions is a red flag. Getting different answers from different people can also be a warning sign. 

If a company makes time to listen to you and answer your questions as a candidate, it’s a good sign they’ll do the same with their employees. 

  1. An unprepared interviewer

Interviews are a time-consuming part of the recruitment process with candidates investing an average of 5-10 hours in prep time alone. 

There’s nothing worse than an interviewer that’s still reading your CV as you answer their first question or someone who doesn’t seem to know what questions they want to ask. 

If an interviewer hasn’t had time to read your CV and think about what they want to ask you specifically, it’s a sign that they might be interviewing too many candidates focusing on quantity rather than quality or simply not prioritising the recruitment process.

  1. Too many interviews

Whether it’s lots of people on the panel or just many, many rounds of interviews, an inflated recruitment process is a red flag. 

For senior roles, there’s typically three interview rounds, occasionally four if it’s a close call between two similar candidates. 

Wanting sign-off from lots of stakeholders could indicate a lack of autonomy within the company or indecision around the role and what they’re looking for. 

Look for an employer that’s respectful of your time with a clear idea of what makes a great candidate for their business. 

Red flags or not, sometimes it all comes down to something you can’t quite put your finger on. Are you excited by the role? Did you get that energy back from the employer? Is there chemistry?

At Finiti, we prioritise not just filling roles but ensuring the right fit for both candidates and clients. We take the time to advise clients on the recruitment process while deeply understanding a candidate’s real motivations and drivers for seeking a new role, ensuring these align with the opportunities presented.

As the only specialist Fintech sales recruiters, we often place candidates multiple times throughout their careers, and there’s a real sense of matchmaking behind successful recruitment. Our expertise lies not just in matching skills but in understanding the dynamics of the Fintech industry and the unique attributes that lead to long-term success.

Whether you’re on the hunt for your perfect match now or want to be part of our talent network for future opportunities, get in touch. 

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Secrets to a Successful Sales Recruitment Process

| 4 minutes

On paper, most recruitment processes look pretty similar: create a job description, attract candidates, go through a series of interviews to figure out who’s the best fit. 

But what seems like a simple process, can easily go wrong. Underestimating the recruitment process can lead to a bad hire, high turnover, and a lot of wasted time and money. 

Here’s how to go beyond the fundamentals of the sales recruitment process to boost your chances of finding the perfect new hire.  

Thinking time

The most important part of the hiring process starts before you’ve even written a job description. 

As well as defining the role and recruitment process in detail, invest time thinking about skills gaps and perspectives you’re missing in your team. 

Think about the types of challenges and ways of working that your new team member will need to enjoy, as well as any shared values you want to see. 

Having that clarity before you start the process will enable you to recognise the perfect person when you meet them, leading to faster, better decision making. 

Research the market 

Before going live with your vacancy, spend time understanding how your role, salary, and job title compare to the rest of the market. 

Not only is it a useful sense check, it will also help you understand how you can present and differentiate your organisation in order to attract top talent. 

Job ads that emphasise work-life balance, for example, have increased by 65%, with vacancies that mention culture, flexibility, and wellbeing receiving three times more views and twice as many applications, according to data from LinkedIn. 

Set aside enough time 

Recruitment is time consuming, and HR Directors spend about a month (27.59 days) recruiting for open positions. 

From reviewing CVs to arranging convenient interview times, make sure you and any other key stakeholders set aside enough time to manage the recruitment process successfully.

If that’s not possible, look for a trusted recruitment partner with expertise in your sector to ensure you can focus only on the most promising people and that candidates have a positive experience that protects your employer brand. 

Target passive candidates

If you’re relying on exactly the right person finding your job listing at exactly the right time for them, you’re going to be severely limiting the pool of potential candidates and missing out on talking to people who could be a great fit. 

Across the workforce, passive candidates make up 37% of the US job market, rising to 45% in the UK. Engaging passive candidates is especially important when you’re hiring for senior roles where there’s less turnover. 

Reaching out to passive candidates is time intensive, so allow extra time in the recruitment process for outreach and work with employees and specialist recruiters to tap into existing networks. 

Be prepared to act quickly

Top candidates will quickly find themselves in multiple recruitment processes, and leaving too long between rounds or taking a long time to make a decision risks losing out to competing firms. 

Half of all candidates have turned down a job offer because the recruitment process was too long, with as many as two-thirds of employers saying they missed out on their top candidate because they moved too slowly. 

If you talk to someone that ticks all the boxes and you’re already imagining them in your next team meeting, make that offer quickly to avoid missing out. 

Though the stages of the recruitment process are simple, getting it right can be hard and a bad hire is a serious drain on energy, time, and budgets. 

From defining who you’re looking for to reaching out to passive candidates, you’ll need to ring fence enough time throughout the recruitment process to give you the best chance of finding your ideal candidate. 

We’ve invested 20 years in understanding the market and building a network of top Fintech talent, getting to know the people behind the CVs and the culture behind the companies. Then we find the perfect match. 

Fintech sales hiring is what we do, what we know, and what we love. Find out more about how we create efficient, successful recruitment processes that help your business grow. 

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Nurturing Talent Even in Goodbyes: Finiti’s Guide to Positive Candidate Exits

| 5 minutes

In the rush of finding that perfect candidate and the busy back-and-forth about contracts and start dates, it can be easy to overlook a really important part of the recruitment process: unsuccessful candidates. 

Every aspect of the recruitment process is a reflection of your brand – both as a business and as an employer. 

Though someone may not have been the perfect fit this time, a positive exit makes sure candidates only have good things to say to other job hunters and peers, leaving the door open for a positive return tomorrow. 

Here’s how to build your talent pipeline by handling goodbyes with grace and empathy. 

Insightful Constructive Feedback 

One of the biggest questions a candidate is left with after a rejection is “why?”. But few businesses provide an answer: 94% of candidates say they’d like interview feedback, but only 41% have actually received it. 

Mitigate potential concerns from the legal team by keeping feedback factual, constructive, and forward looking. Communicating any feedback in writing can also help avoid miscommunication and give candidates time to reflect before responding. 

Timely and Transparent Communication

Hiring is a time-consuming process, particularly when you’re inundated with applications. 

Increasingly, that means communication slips. The latest Talent Board report found that over a third of candidates were waiting several months or more to hear about next steps, a 48% rise from 2021. 

Whether it’s good news or bad news, responding to candidates quickly goes a long way towards building a positive employer brand. 

Personable Rejection Messages

Words matter, especially when you’re communicating something you know will be disappointing. 

This isn’t a job for ChatGPT. Make sure the messages you send are warm and personable. Although it might just be one of hundreds of template-based rejection emails for you, it’s a big deal to hopeful candidates. 

If you’re using templates, work with your brand or marketing team to spend time crafting ones that convey the key information and fit with your employer brand. 

It’s their last point of contact with you, so make sure they leave the process with a positive impression. 

Encouraging Future Applications

Be clear that just because someone wasn’t right for this particular role, you’d still consider them for future opportunities. 

Show you really mean it by including a link to your current vacancies page; you could even consider starting an email list to alert them to new opportunities with your organisation. 

Not only are you leaving that candidate with a positive impression, you’re building a talent pipeline of candidates you know are interested in working for you. 

Networking Opportunities and Resources

Whether it’s an online event that you’re hosting or a course you know is particularly useful for your team, consider sharing ways a candidate could usefully progress their industry knowledge to make them an even stronger candidate next time. 

Not only will this attention to detail set you apart from other potential employers, it also shows that you’re invested in your team’s learning and development – even before they’ve started. 

Rejection in Context

Rather than thinking about an unsuccessful candidate in isolation, put it in the wider context of the value of building and maintaining your employer brand. 

A positive employer brand can speed up the hiring process, decrease your average cost per hire by 50%, and significantly boost the number of strong candidates applying for your roles. 

If your team is short on time, find a recruitment partner that’s able to ensure candidates have a positive experience. 

Remember, candidates often won’t differentiate between internal recruitment managers and external recruiters, so make sure you work with someone that knows your industry and business to leave a positive last impression. 

From curating a short list to handling goodbyes, Finiti Search is the only recruitment company specialising in Fintech sales roles. 

We get to know candidates and companies inside out in order to find the perfect match. Learn more about our talent network or get in touch with the team today about your vacancy. 

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Strategies for Maximising Job Packages: Navigating Salary Constraints

| 5 minutes

You’ve done it. You’ve found that next big hire for your Sales Team. They’re perfect for the role. Job done, right? 

Finding the right person isn’t the end of the recruitment process. Before you start planning their induction and forwarding meeting invites, there’s still the delicate process of finalising the job package. 

But what happens when you don’t have any wiggle room on salary? 

Here’s our five top tips for taking a more holistic approach to job packages that can make all the difference between losing top talent and making sure they sign on the dotted line. 

  1. Unlocking hidden benefits 

When there’s a lot to communicate in a job spec, benefits are often the first thing to get condensed or cut. 

Two-thirds say benefits are as important if not more important than salary, with a similar percentage saying benefits will be a key priority when applying for their next role.  

Whether it’s tangible benefits, like healthcare or an on-site gym, or culture-based benefits, like team events and remote working, make sure you communicate the full breadth of benefits the job package includes. 

  1. Tailoring bonus structures

There might not be any stretch when it comes to base salary, but there are many different bonus structures out there that can help attract and retain top sales talent. 

Think about which activities drive sales for your business and get creative with a tiered bonus structure. You could also add in activity-based bonuses for the initial few months to make sure the candidate’s take-home gets a boost right from the start. 

What’s great about generous bonus structures is that when they win, so do you. 

  1. Negotiating equity and stock options 

An alternative to a bigger salary in the short term is to offer new starters a stake in the company. 

The exact amount you’re able to offer depends on a number of factors, with the average equity share in startups hovering around 1%. 

Offering equity or stocks shows that you’re committed to both them as a team member and to the company’s growth in the long-term, even if the short term salary might not be what they had in mind. 

  1. Customising benefit packages

There’s much more to a job package than just the salary; the right benefits can be the deciding factor between two similar offers, even when the other salary is higher. 

Over four in ten employees don’t think their current company’s benefit package meets their needs, and half even say they’d accept a pay reduction for a more tailored benefits package. 

To use this strategy effectively, talk to the candidate to find out what they really value. If they have young kids at home, flexible working might be the benefit that wins them over, or if their family is overseas the ability to work from a different timezone for a month a year might suit them best. 

Take the time to understand the things beyond salary that matter to a candidate and create a benefits package that’s perfectly tailored to what works for them. This shows that you’re being as flexible as possible in the areas where you do have stretch. 

  1. Emphasising career growth opportunities

If you’re talking salaries with a candidate, chances are they like you as much as you like them. They’re picturing themselves as part of the team – they’re invested. 

Capitalise on that interest and a great mutual fit by painting a picture of what their long-term career with you could look like. 

Progression could mean a promotion, but it can include other learning perks too. A huge 86% say that they’d change jobs if another company offered more opportunities for development. 

Where possible, share examples of others who’ve joined your business at the same level and have progressed, as well as how you support learning and development throughout your business.  

Communicating your offer

Articulating the full range of what you offer as an employer is crucial to navigating that tricky final stage of the recruitment process. 

Taking a clear, proactive approach to understanding a candidate’s expectations at the start of a process can also avoid losing time or, even worse, a successful candidate at the final hurdle. 

We’ve been curating our network of top Fintech sales talent for twenty years, often placing top talent multiple times throughout their career. 

To learn more about how we ensure a smooth, successful recruitment process by getting to know candidates and their expectations, get in touch with the team at Finiti for a friendly chat.  

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