In uncertain economic times it is critical to re-strategise and prepare your start-up to face macroeconomic issues. Between global inflation, increased costs of living, employers reducing their workforce, and a potential recession, the Fintech industry, like most, is facing a variety of challenges. All of these macroeconomic factors have caused fintech M&A exits to decrease 30% in Q2 2022 (the lowest point since Q3 2020). And yet, hiring good people still remains top of the list.
Don’t Panic
The impact of macroeconomic issues is unpredictable. It is impossible to know when and how much the economy will slow down. The key to surviving economic hardships is building a solid foundation to withstand the storm and to turn it into an opportunity.
Creating Opportunity – Finding the Right Fit
For those scale-ups in a strong position, there is a big opportunity at play. While larger companies are suspending or freezing their hiring and, in some cases, reducing their workforce, this creates opportunity for others. Opportunity to dive in and secure good people, fast. Opportunity to attract a different type of candidate than you’re usually able to obtain, e.g. someone that is considering a smaller company for the first time, or a move from financial services into Fintech.
At Finiti, we are seeing some companies with bigger commercial teams shrink, as the popularity of sales teams with up to five members rises. This is where specialist knowledge can help your organisation. Finding specialised talent to strengthen your team is what Finiti is known for. Our clients rely on us to find the perfect match to support their growth, and not only survive, but thrive in their space no matter the financial climate. Whether you need to fill a sales leadership role or an entire sales team from scratch, engaging an agency with years of Fintech commercial hiring experience and an extensive network of high-quality candidates is required.
In times like these, evaluating your team is essential. What area do you think could use more support? How adaptable are your team members? Who / what is missing? At Finiti, we can help provide insight into your commercial team strategy to help you piece together the puzzle and build a solid foundation for success. While lay-offs are one of the first actions companies can take during an economic crisis, sales talent is critical for continued revenue growth.
Why work with a recruitment agency?
Using a good agency will save your company time, money and resources. Working with an agency that is an expert in the Fintech industry and a specialist in sales recruitment has many additional benefits. Here are 4 big benefits:
- High quality candidates
Good recruitment agencies draw from a large network of qualified talent to find the missing piece for your organisation. You will only meet with candidates that have been personally selected for your company and requirements.
- Years of industry experience
At Finiti, we have 15 years of Fintech sales hiring experience. We know first hand what it takes to build a successful sales team, helping your team grow and thrive during economic highs and lows. Also, a good, generic agency may be able to identify a candidate but only the best specialist agencies – with years of experience and credibility in your market space – can actually access the talent and introduce them to your company.
- A bridge
After working in the industry for many years, Founders Kate Sharland and Alison Power recognised the specific challenges of recruiting for Fintech sales roles and being that bridge between clients and candidates. Helping to ensure good communications and negotiations between all parties.
- Faster and more efficient hiring
With an extensive pool of talent ready, Finiti can help you find the perfect hire quickly and efficiently. Our network of Fintech sales talent, from CROs to sales team players, allows us to find the exact person your organisation is looking for. This not only allows you to access high quality candidates, but it can save your company precious time and resources.
Our team of Fintech recruitment specialists is ready to help you prepare for the uncertain times ahead. Now, more than ever, it is critical to make sure you have top performing talent throughout your team to be effective and successful. To ask us about hiring Fintech sales talent, get in touch here.
