Teaser
TechnologyContent Type
General
04/06/21
Summary
Recruiting outstanding talent is the goal of every talent acquisition team. However, market forces have made that task increasingly difficult. Often candidates are unwilling to leave jobs that have seen them through the pandemic, and those who are looking for new opportunities are often the subject of bidding wars. Even highly desirable businesses, like Fintech SMEs, are having a hard time finding enough people with the right skill set for their companies. Ultimately, these candidates command a premium and, as a business, you may very well offer and exceed their expectations, however, that still may not be enough to sway them to work for you. So, in a skills' drought, what can your business do to attract the best talent for your Fintech start-up or SME? Understand the candidate’s motives As a Senior Recruitment Consultant, who specialises in the Fintech market, I have multiple conversations a day about the cons of working for a start-up vs. a large organisation. Some of the key themes from these conversations include:1. Potential lack of learning and development in a smaller business2. Fewer opportunities to progress in SMEs3. Less opportunity for flexible working and longer working hours4. Not enough employee benefits5. Less job security in a start-upYes, there are risks that come with joining a smaller business, but start-ups are some of the most progressive and creative businesses around. Remuneration, employee benefits and job security are only some of the motivators for people in their working life. People often work at start-ups because they believe in the mission or product, not necessarily for financial gain or job security. Make your job opportunity stand out from the crowd Recruiting top talent in the Fintech market is difficult, every hire is integral and can make or break your company. With budgets being a big concern for many businesses, you need to think strategically about how you present jobs to potential candidates. A job advert is not a list of responsibilities. Companies need to understand who they want to attract with the job advertisement. A well put together job advert, which covers all of the essential qualities the candidate needs to possess to be successful and what you can offer them in return, is a great starting point. Utilise websites like Gender Decoder to ensure your job adverts are gender neutral and consider using SEO practices to attract better quality and more diverse candidates.Showcase your employer brand Candidates want to know what it is like to work for a company before they work for them. Attracting candidates whose values and work style align with those of your company will make your recruitment process smoother, as you won’t have to sift through candidate profiles that aren’t a match in any way. It also works the other way around. Candidates who don’t like what they see will deselect themselves from the selection process. To ensure you’re getting candidates who fit in your company, showcase your company culture through as many channels as possible and communicate why you’re a great place to work." Boost retention and retain talentRetaining talent is an essential component of acquiring talent. The Fintech industry is compact and well-connected. One person’s poor experience with your organisation could have a damaging impact on your ability to hire new people. Therefore, ensuring there is a keen focus on developing and retaining talent is a must if you want to recruit successfully for your Fintech SME. ● Incentives Start-ups and SMEs are often disadvantaged when it comes to their ability to incentivise their employee’s roles, and provide the type of working environments, benefits and conditions that incentivise employees to stay long-term. This is because start-ups may not always be able to compete with large organisations on remuneration, benefits and bonuses. Therefore, it is essential to see appropriate and financially sustainable incentives as a cornerstone of talent acquisition and retention.● Training and progressionSome SMEs might shirk the cost of training, however learning opportunities often lead to increased productivity. Furthermore, employees are much more likely to stay with a business if they can see a clear progression and development plan. And whilst there is always the risk that if you train your employees and enhance their education, that they will leave, if you don’t offer a clear progression and training route, they are even less likely to hang around. ● Welcome feedback You should actively seek feedback from your people around the business. The people on the frontline of your organisation are often the ones best placed to provide insight into business performance. Moreover, employees who are engaged and feel heard often stay in their roles longer. Ask for help The average employee exit costs 33% of their annual salary. However, some studies have found that the real cost of making a bad hire is closer to £130k! This is taking into account the loss of talent, time, recruitment fees, training and decreased productivity. A high turnover rate can cripple a start-up or SME. It is essential that as a business, small or large, that you don’t fall into a pattern of making bad hires. There are several routes to acquire talent, such as referrals, ex-colleagues, and reaching out to connections, which are advantageous. However, scaling and growing a business on the back of referrals is time-consuming, and there are fewer safety nets in place if the hire isn’t quite right. That is why engaging the services of specialist recruitment consultancies, like Marks Sattin, is essential. We don’t just find you your next hire, we are uniquely placed to consult with businesses on hiring trends, candidate behaviour and best talent attraction methods for your business. And the best part is, it won’t cost you anything until we have made a placement.You can read our previously published article on the pros and cons of taking recruitment in-house. If you would like to discuss any of the above, please don’t hesitate to reach out to me.
Teaser
GovernanceContent Type
General
20/05/21
Summary
The UK government recently published a policy paper, aimed at holding directors at large companies accountable and maximise transparency to ensure the prevention of fraud, or any other financial crime . We welcome the recommendation to include an annual resilience statement setting out how directors are assessing the company’s prospects and addressing challenges to its business model over the short, medium and long term. As a niche technology risk consultancy, we see embedding resilience in services and products is increasingly a key focus for our clients. The loss of consumer trust that follows service outages can have a material impact on the long-term viability of an organisation. Any additional focus on this, as part of a broader approach to enhancing transparency and trust in audit and corporate governance, can only be seen as a positive change.” Rob Johnson, Senior Manager | dcr partners What are the key points from the audit and corporate governance policy paper? Public interest is at the heart of reformsThe Public Interest Entities (PIEs) are governed by the account legislation and are focused on audit, corporate reporting and governance. PIEs relates to a range of different businesses, including insurance firms, professional services firms , banks and publicly listed companies. The government wants to reform measures to make them more effective and to create a much more robust regulation, so companies have clearer guidance when carrying out audits. The new reforms will have an impact on the way organisations manage their finances and accounts.Directors’ accountabilityLarge companies must have strong internal controls. As a result of poor risk management from many large firms, the Financial Reporting Council (FRC) Review outlined recommendations to strengthen the established internal controls framework. Multiple options have now been identified to increase the effectiveness of internal controls, one of which would require a directors’ statement, which would cover all aspects of the company’s risk management procedures and internal control. All of the new reforms will be in relation to capital maintenance and dividends.Corporate reportingWhen it comes to new corporate reporting, greater transparency on payment policies and practices are needed. The Brydon Review has recommended that for companies to remain competitive and relevant over the long term, reporting needs to showcase more evidence of a director’s plans for the company. Two new reporting requirements have been proposed, which includes an Audit and Assurance Policy and a Resilience Statement. Overall, as a result of the uncertainty in recent times, there’s now an increased appetite for businesses to be more transparent about their finances, operational risks and plans.Strengthening the power of reportingThe government has set proposals to strengthen the regulator’s corporate reporting review that reflect the recommendations outlined by the Brydon Review. Some of the key measures being taken into consideration include the power for companies to direct changes to company accounts, as well as the power to publish CRR correspondence. The government intends to give more power back to the ARGA, and that there’s a more rigorous and consistent approach to discussing documentation and reporting.Company directorsThe role of a CFO , and many other company directors, is to oversee the business’ accounts. They have complete control, and regulators don’t have the authority to intervene if a director breaches any procedures related to the accounts. Therefore, the government aims to give the regulator the power to make directors of publicly listed companies accountable. This would be a major change for regulators, enabling them more authority over their relationships with company leadership. The new regime will allow regulators to take enforcement against directors for any breaches of duties relating to corporate governance.Audit reformsThe government proposes to introduce a new corporate auditioning profession, as well as new principles, duties and obligations for directors and auditors. It’s been accepted by the Brydon Review that the auditing process needs to be improved and with more focus on aspects beyond financial statements’ compliance, to help the audit practices become more transparent and secure. The Brydon review has ambitions to make the audit process more informative and useful. This may include the introduction of a professional body for corporate auditors, which would help create more structure and an established framework for auditing.Safeguarding shareholdersIn response to the Bryon Review, the government is set to give more requirements to the audit committee’s role with the aim of safeguarding shareholders and other account holders in a business. There’s also set to be new measures that will bring in a greater dialogue between a company and its shareholders, which in turn, can improve the quality of audits in this changing financial landscape . The audit committee protects the interests of the company’s shareholders. It acts as a professional liaison that can help tackle a range of issues.Changes to the audit marketAs a result of the CMA Market Study, the government intends plans to increase competition, choice and resilience of the audit market in the UK. The reforms will include a range of measures, such as greater regulatory powers and duties, an operational separation between audit and non-audit arms of different firms, as well as renewed statutory powers for the regulator. The objective of the plan is to give the regulator new powers as the audit market evolves over time and to ensure greater enforcement and security.Audit supervisionMoving forward, there will be much closer monitoring of audit quality, with regular inspections and reviews at least once every three years. This gives regulators the chance to act more effectively when quality issues are identified. In response to recommendations made by the FRC review, the government also plans to offer regulators new powers that will enable them to check auditor’s papers, giving the regulator greater freedom in how it chooses to monitor the quality of audits.The future of the regulatorIn order to strengthen the regulator, the ARGA will replace the financial reporting council, aiming to promote and protect the interests of investors, wider public interest and corporate reporting. The future of the regulator will revolve around having established roles and powers to exercise judgement on business audits. The regulator will also be funded through a statutory levy and the ARGA will be established as a company limited by guarantee. The government believes that ARGA should have broad objectives to remain relevant and flexible as the ARGA carries out its policy-making functions. Overall, there’s a range of proposed objections for the regulator, including quality objective and competition objective.The role of the regulatorThere’s a range of additional changes to the regulator’s role. For example, there are proposals for the regulator to have a more proactive role, which includes assessing any serious issues related to a company’s auditing process. The new responsibilities are all about preventing issues from happening, such as problems with corporate reporting or any concerns relating to the Public Interest Entity’s audit. The role of the regulator is set to change with the new measures being introduced. All of these new measures will help the ARGA achieve the aim of becoming an independent regulator.Speak to a member of the teamMarks Sattin is a specialist recruitment and executive search firm. We have over 30 years’ experience finding professionals their next exciting opportunity and our people are committed to keeping abreast of the latest developments in our key markets. Should you have any questions or wish to discuss further, please feel free to reach out to me.
Teaser
Financial ServicesContent Type
Join our team
20/05/21
Summary
In March 2021, Anthony Mills made the move to Marks Sattin Birmingham, after spending nine years at another recruitment company. Our Internal recruitment manager, Karen Chilton, chatted to Anthony about his career so far, what it’s like joining a new company during a pandemic, and some of his most memorable moments in recruitment. Anthony Mills Principal Consultant, Birmingham Contact Anthony Anthony, welcome to Marks Sattin! How are you settling in?What a start it has been! Although we are currently working remotely, everyone has taken the time to welcome me into the business. Luckily, with recruitment being a well-connected industry, I have either previously worked with, or met some of my colleagues in the past, so it has been pretty easy to settle in!How did you get into recruitment?Like most recruiters, by accident! However, my situation is a little different. My father had hopes of me becoming an accountant, and would often get me to help him with his business accounts. I studied accountancy as one of my subjects at A-level, and I studied accountancy & finance at degree level.However, I chose a career in business development and account management. In 2012, I decided to try mixing my business development and account management experience with my accountancy and finance studies to become a finance recruitment consultant, and I haven’t looked back since. So, I guess I did somewhat get into accountancy as per my father’s hopes, but in a weird sort of way!Tell us about your career so farI specialise in permanent and temporary positions across the West and East Midlands, primarily recruiting roles at the qualified level. My experience has allowed me to work with a range of companies, from FTSE 100/250 listed, multinational organisations, SME’s, private equity and venture capitalist backed.However, over the past seven years most of my work has been in the interim and contracting space, partnering with clients to recommend effective and efficient interim solutions to meet their needs. As a result, I have been able to acquire a sizeable interim finance network that continues to grow to this day!What do you enjoy most about your role?I have to say that the feeling of placing somebody in their “dream job”, and knowing that I have delivered a top class experience for my client is the best part of my work. I don’t believe that feeling could ever go away. In recruitment, you get the opportunity to learn a lot about the people and businesses you support, and I have built some genuine long-lasting relationships and even some good friendships off the back of it.Do you have any work-related embarrassing tales for us?It was just after Christmas and I had gained a few extra pounds. We were attending an important client meeting to take the brief of several senior finance vacancies. The weather was awful, and there had been torrential rain all morning, so we decided to take a little jog to get there as quickly as possible. As I took a few paces, I heard a tear. I looked down to discover my suit trouser was ripped!Like a true professional, I had to soldier on and attend the meeting. Luckily, my trusted colleague was on hand to give me his jacket which I strategically dangled over my arm to hide my unfortunate accident. We won the pitch and recruited the vacancies within the team, without the client suspecting a thing, and I learned a valuable lesson, always have a suit one size up ready for the winter months, or just eat fewer donuts! What swayed you to join Marks Sattin?The idea of being just a number has never interested me. I want to work for a business that invests in their people. Luckily, because I knew people who work at Marks Sattin, I had a good idea of what it would be like to work in the team. Ultimately, for me, the attraction was knowing that I could bring my skills and regional knowledge to a new business, and help the directors develop Marks Sattin's offering in the Midlands. I knew I could add value and go on a journey with the business. Marks Sattin is already a leading recruitment consultancy with offices in Birmingham, London, Reading, Surrey, Manchester, Leeds and Dublin. The business has been established for almost 35 years, plus Marks Sattin is owned by Gi Group, a leading global recruitment conglomerate which operates in over 40 countries. Whilst some businesses in their position may be complacent, there is a lot of drive and ambition within the business, and I knew I needed to be a part of it. In your opinion, why is Marks Sattin different from other consultancies?Well, I’ve never known another recruitment consultancy that has a golf simulator for us to use at our leisure, a spacious gym with all the equipment, and an awesome rooftop bar in their offices.I would also say that Marks Sattin genuinely live by what they say about “being a mature business”. Whilst commercial viability is central to any business, there isn’t any micromanagement, and the consultants are trusted to work in a way that works best for us to bring the best results. It has also been extremely refreshing for me to see first-hand Marks Sattin’s stance on diversity & inclusion across the Group. No matter your race/ethnicity, religion, gender, sexuality or disability – being fairly represented with equal opportunity and having your voice heard is critical to any successful organisation with a diverse workforce. I learned that Marks Sattin really take this seriously and their diversity & inclusion committee has representation from a variety of groups within the business to increase our awareness and education. Not only is this practice followed internally, Marks Sattin partner with a number of external clients to ensure D&I is at the centre of the recruitment process, allowing for fair representation and minimising unconscious biases. I am really proud to be a part of a business that champions diversity & inclusion! What advice would you give to any consultants who are considering a move after working with another consultancy for a long time, as you were?To move roles after nine years as a consistently high performing consultant was daunting. It was a big decision to move, given my length of service and having a “safe” job during an uncertain time, it was a complex decision to make. Unfortunately, my partner was made redundant as a result of the pandemic, meaning I became the sole earner, and we were also expecting our second child (who we welcomed on May 2nd 2021). For anybody considering a move after being with an employer for a considerable period of time. I think the first piece of advice that I would give is to have self-belief. The thought of change can be such a daunting thing, but it can also be the best thing that you ever did! Anthony mills | Principle consultant There are businesses out there, like Marks Sattin, that can work in a fluid way, meaning they can shift and adapt to meet the needs of their employees, whether it be flexible work from home/office working, part-time/full-time. At Marks Sattin, entrepreneurial flair is celebrated and ideas aren’t dismissed before you’ve even finished your sentence. I would also advise that opening up an informal discussion with an agency doesn’t mean that you are tied in to anything, but instead it can be used to gauge whether they could meet your long term goals; if not, then they are not the business for you.Finally, tell us something not many people know about you.As a sports enthusiast, I represented my Regional Athletics team, where I had the chance to meet the GB Athletics and the Jamaican Athletics Teams. I also had the opportunity to play a “Cup Final” game as a teen for my football team at the Birmingham City Football Ground. I shouldn’t admit to that, being an Aston Villa fan!If you enjoyed reading Anthony's career story so far, and would like to learn more, check out our internal vacancies or contact me for a confidential chat about your career options with Marks Sattin.
Teaser
Finance & AccountingContent Type
General
17/05/21
Summary
If you have been living under a rock over the last few years, you might have managed to avoid the term IR35. IR35 is the name given to tax legislation in the Income Tax (Earnings and Pensions) Act 2003. It’s legislation created by the government to reduce tax evasion amongst non-permanent workers on self-employed contracts. They are often referred to as disguised employees who are doing the same work as permanent employees, however under their own company to enable them to claim the same tax efficiencies of a business. Considering the many areas that IR35 has had a direct impact on the market - from limited contractors to companies changing their recruitment policies - it has not had a significant effect on the part qualified and transactional level so far.Why hasn't IR35 had a wide-reaching impact? Traditionally part qualified accountants haven’t used personal limited company payment structures as there were only marginal benefits on offer to them for doing so. Instead, the majority of these candidates have been paid through daily/hourly rates via PAYE basis or umbrella companies, so IR35 has had little effect on their take-home income.Generally, part qualified accountants tend to get paid a premium for performing contract roles, so they’re still in a strong position and normally provided with enough of an incentive to elect for contract roles over permanent opportunities through the added benefits.Organisations still have a strong need for flexible resources to cover many different situations that occur, such as maternity covers, illness, projects and many other uncertain situations that present themselves from time to time.Many companies have a preference to outsource payroll for contractors rather than dealing with it themselves and therefore elect to hire candidates on daily/hourly rates, as the agencies will take responsibility for the admin and all other areas that come with that coverage. However, some organisations do not fully understand the rules around contracting, and the after-effect of IR35 has led to some companies taking a blanket approach to recruitment and deciding to recruit roles on a fixed-term contract basis instead.As an experienced part qualified recruitment consultant here at Marks Sattin, I predict that in the long term, competition for talent will dictate the market and lead any companies taking this blanket approach down the route of using temporary workers again. Otherwise, they will risk not accessing the best temp professionals with the right skills and experience for their business at the time when they need it most.Find out more about the impact IR35You can read our previously published article here on how IR35 will impact contractors and employers. If you would like to discuss any of the above from a candidate or client perspective, please don’t hesitate to contact me directly.
Teaser
GovernanceContent Type
General
13/05/21
Summary
We recently co-hosted a virtual roundtable on Operational Resilience, in partnership with DCR Partners. The session was attended by business leaders from various industries, and we were able to benefit from a diverse range of perspectives and experiences, both within and outside of financial services.The aim was to discuss approaches organisations are taking to become operationally resilient, sharing lessons learned and how obstacles have been overcome. We have summarised this conversation in an easy to read whitepaper, covering the following:What does Operational Resilience mean to your organisation? Defining important business servicesControlling the scope of business servicesImpact tolerances Download the whitepaper Should you have any questions or wish to discuss further, please feel free to reach out to me.
Teaser
GeneralContent Type
General
11/05/21
Summary
This week marks Mental Health Awareness Week. We are all too used to being on auto-pilot, however this is a week for us to really focus on our mental health, and for organisations and employees to come together to have meaningful discussions and/or bring awareness to mental health in the workplace. The events of the past year have had a significant impact on people’s mental health. According to The Health Foundation - a charity committed to bringing about better health and health care for people in the UK - 69% of people are “very worried” about the impact that the pandemic is having on their life. It is essential to remember that everyone has been affected differently by COVID-19. Some people have been on extended leave from work, others have lost their jobs, and many people have faced serious health concerns. For those still in work, targets may have become more pressured, there could be a threat of job losses and/or excessive amounts of work with limited resources. It is to this backdrop, a recent survey by MIND (A mental health charity that provide advice and support to empower anyone experiencing a mental health problem) found that 42% of people considered resigning when asked how workplace stress had affected them. Moreover, research from the department of health suggests that mental illness costs the economy in England over £105billion each year through costs of services, lost productivity at work and reduced quality of life. So, what can employers do to help people in the workplace and mitigate damage to the economy?" Talk about mental health in the workplace Fear of discrimination and feeling ashamed are the top reasons people give for not telling their colleagues about their mental health problems. It is essential as an employer that you have a safe space to communicate people’s feelings and anxieties about work. Encourage managers, supervisors and colleagues to check in with each other. Try and see the world and situation from other people’s perspective. A job well done and a positive working environment is key to mental wellness, but it might not always be there. During these conversations, we need to be open and honest. Try by acknowledging the uncertainty and the stress it causes.There is no shame in not having all of the answers yourself. These regular conversations will help build meaningful transparency into your company culture and your employees will thank you for it. Here is a great report from The Mental Health foundation on how to support mental health at work. How to support someone who is experiencing a mental health problemSupporting your employee’s mental health in the workplace does not need to be expensive. The essential starting point is to allow colleagues to feel empowered and safe to communicate their feelings. If you’re not sure where to start, Mind have put together a series of free resources to help improve mental wellbeing in workplaces. Your business may already provide access to support services through your workplace - if you do, make sure these are advertised well and find out whether there are specific resources relating to the pandemic. Make sure people know where to go and who they can talk to internally. If you have mental health champions, allies or mental health first aiders, make sure they have the latest information.However, it is important not to over rely on these people as they may not have the same level of training as others in safeguarding roles. Whilst mental health first aid courses have become increasingly popular within organisations, it is essential to remember that a two-day course is not a replacement for a trained therapist, and a considered action plan. Create a culture that supports employees to be open about their mental healthPeople are often scared to tell their manager they are struggling with their mental health, and this can lead to the problem spiralling. Addressing wellbeing at work increases productivity by as much as 12%.Working remotely is the top reason why employee experience and company culture is disrupted. In March 2020, businesses were forced to change the way they usually work, communicate and manage their workforce. Arguably remote working does not mean the fundamentals of a strong company culture should change. However it is important to create traditions where people feel included, give employees a sense of ownership over their role, and allow people to have a voice and an influence. You can read our previously published article here authored by David Beeney, founder of Breaking the Silence explaining how to approach a conversation about mental health in the workplace, and how to create a culture of trust.
Teaser
Financial ServicesContent Type
General
04/05/21
Summary
It is very pleasing to read all about the Chancellor’s plans to boost and grow the UK’s already thriving fintech industry, as published recently by GOV.UK. Addressing the matter at Fintech Week, the Chancellor, Rishi Sunak, spoke about how the UK will action many of the recommendations made in a recent independent Fintech Review Report , led by Ron Kalifa OBE. What do the ambitious plans include? Supporting growing firms and fintech hubs across the UK The Financial Conduct Authority (FCA) will take forward a ‘ scale box ’, scale box is an extension of the sandbox program which has proved invaluable for allowing start-ups to test new propositions, and to provide a one-stop-shop for growth stage firms. Pushing the boundaries of digital finance The HM Treasury and the Bank of England have come together to establish ‘ Taskforce ’, which will explore a possible UK central bank digital currency (CBDC). Two new forums are also being created to engage technical experts in this project. Reforms to listing and capital markets rules The Chancellor confirmed plans to support companies seeking to raise capital in the UK, including reviewing the prospectus regime. The prospectus regime aims to make it easier for companies to provide the information that potential investors need. In all, Rishi’s announcement is encouraging news to recruitment consultancies that support high growth firms to scale up with access to high-quality talent. The plan to fast track visas for skilled people is also welcome news for the industry; there is already a shortage of candidates on the market, with many good candidates being shackled down by working permits that can’t necessarily be granted at their new employment. The announced changes will remove these barriers and allow access to some exceptional talent across tech and finance. In light of Brexit, this will encourage not only for firms currently in the UK, but also European and other international firms to see the UK as a great location to set up. Marks Sattin will help you with your fintech recruitment needs If you are growing your fintech business and would like to discuss sourcing talent, please contact me directly. Alternatively, you can view our fintech job opportunities here .
Teaser
Financial ServicesContent Type
General
29/03/21
Summary
Here's a summary of our top three market articles for March 2021: Lockdown boredom drives the UK video games market to a £7bn record high During 2020 the UK video games market has been fuelled by an unprecedented boom in the popularity of mobile games, consoles and VR headsets. This soaring demand can largely be placed with the increased need for at home entertainment during the pandemic. The result was a huge £1.9bn increase on money spent on gaming entertainment compared to 2019’s figure. This boom in demand for entertainment has also prompted gamers exploring new technologies, such as VR. Meet music’s most hated man—and he is the industry’s top dealmaker In recent months, huge waves have been caused within the music and IP rights industry. Most music fans have never heard the name Merck Mercuriadis, CEO of Hipgnosis Songs Fund. But they may well be aware of the assets he’s been aggressively buying up for the past three years. In just three years he has spent $1.8billion of investor funds buying the rights 60,000 songs. That includes thousands of songs, including some penned by veterans like Neil Young and Barry Manilow and others from newer artists like Ed Sheeran and Shakira. A year on from the first lockdown, what has become of travel? As lockdown restrictions are lifted and the roadmap out of the pandemic starts to take shape, people can begin to contemplate what holidays might look like in 2021. This article explores emerging trends around staycations and the growth of the UK adventure holidays. In tandem, the article also interrogates if cities will avoid over-tourism, if travellers will utilise electric travel to avoid airports and what people want from a post-pandemic holiday. If you are a newly qualified ACA, why not join our growing community and receive updates of informative insights and blogs, as well as exciting opportunities that will relate to your background and ambitions.
Teaser
TechnologyContent Type
Career Advice
18/03/21
Summary
In 2021, 68% of businesses are prioritising recruiting candidates directly to their companies. However, this is not always best for the jobseeker and their candidate experience. In some cases, the disruption in the economy, caused by the COVID-19 pandemic and the increased volume of job applications has led to an absence of feedback during the recruitment process. I speak with many people who feel frustrated due to the shortage of responses and lack of meaningful feedback, both from recruiters and direct applications and interviews. Below we have detailed a great strategy on how you can achieve better engagement from organisations after applying for a vacancy. Make yourself known If I was to ask any hiring manager, “what are the top three qualities you look for in a candidate?” Most of them would say: A positive attitude towards workA good cultural fit for the business and the teamSomeone who is keen to get stuck in to a project or business So, before you apply for a role, identify the business’ website and social media pages and ascertain the business culture and think about what you can contribute. Next, find the relevant hiring manager or a person from the talent acquisition team. Send them a message on why you would like to work there and why you believe you are a good fit for the role. Use Glassdoor, LinkedIn and relevant FinTech articles to inform your message. Look at what they are working on and ask yourself - how could I add value? You don't need to cover every point, but make sure it is relevant and appropriate. This tactic will show that you have a positive can-do attitude, you are passionate about your work and you’re engaged with their business. This will increase the likelihood of them meaningfully engaging with you in the application process. Ensure your CV is the best it can be Producing a stand-out CV could be a whole article on its own! But we do have some straightforward tips for you to get started: Always use job descriptions to tailor your CV for the role you are applying for. Use the job description to cover off relevant experience, key achievements and highlight your essential skills.Job applications are not a numbers game. To increase the chances of hiring managers engaging with you, focus on producing a high quality application as opposed to a high volume application.Make sure your CV is easily readable. Time is precious to hiring managers, meaning most CV’s are reviewed promptly, so make sure it is formatted appropriately and you have checked the document thoroughly for any mistakes.You should clearly bullet point main details and key achievements. This means that essential factors are not missed. Credibility- it’s a powerful thing! CVs, applications and interviews are an opportunity where you can demonstrate the skills you have. Anybody can say they are an expert in something, but how many people go far enough to prove it? Use statistics, previous performance reviews, LinkedIn recommendations and GitHub to evidence and embed your credibility. This will increase the likelihood of them engaging with your job application." Ensure you're prepared for the interviewAgain, this is something I could spend some time going in to detail explaining. However, a few key points would be:What’s their innovation?Who are their competitors? When were they founded?Who is conducting the interview? What is their background? You may be asked directly what research have you conducted. So, if you can demonstrate knowledge on their market, you will be showing initiative and where you can add value. Close the interview like a Pro Every interview ends with your chance to ask questions. People always remember a good closing question! This gives you the opportunity to gather all the information you need to make a decision on whether you are interested in the role. Ask what you need to, but take this as an opportunity to build rapport. If they haven’t covered it already, ask them: How long have they worked for the business?How have they found it, compared to their previous employer? Rapport is a key tool in your arsenal, we all want to work with people we find pleasant. I would also prepare other questions including: challenges they face in the role currently, what are the key factors they are looking for from this person? Follow up In the wise words from my mum: "manners cost nothing". Following an interview, an email thanking the hiring manager for their time, the positives you have taken away and why you think you’re a good fit for the role is a nice touch that will make them remember you. It is key to remember you are representing your own brand. You should make an effort to leave a positive impression; one impression can be a hundred impressions. The FinTech community is small and people talk. I have plenty more tips and tricks up my sleeve, so feel free to contact me for advice on how to secure your next FinTech role and keep an eye on our website, we have new vacancies coming in daily!
