Fintech Recruitment: How to Attract and Retain Top Talent in Fintech for Every Stage of Company Growth

Tailoring Your Strategy for Good Candidates: Startups vs. Established Companies

‍What makes a great candidate for a startup job?

Startups provide a unique environment that benefits from qualities of the best candidates for a job – those who thrive on change, innovation, and risk-taking. Here’s what startups have to offer and what makes the best hire succeed:

What Startups Offer to the Right Candidates:

• A chance to make an impact. In startups, work isn’t just a to-do list; it’s a chance to shape the company’s future.
• Equity and stock options. The possibility of owning a piece of the company is a game-changer for candidates who believe in the vision.
• Rapid learning and growth. Startups offer a playground for skill-building—one day, you're crafting marketing strategies; the next, you're in front of investors making your case.

What Good Candidates Offer to a Startup:

Startups need talented individuals who thrive in ambiguity and can “wear multiple hats” on the job. Even excellent employees in startups often face unclear or evolving roles, so the ability to adapt quickly to new challenges and take on diverse tasks is crucial.

Additionally, startups place a strong emphasis on creativity, adaptability, and good problem-solving skills. With limited resources and a fast-paced environment, creative thinking is an essential quality for overcoming obstacles and developing innovative solutions.

What makes a good candidate for a job at an established company?

What Characteristics of Large Companies will Impress a Job Hunter:

Established companies provide stability, structured career paths, and robust benefits, which are often highly attractive to strong candidates seeking long-term security. These companies offer transparency regarding salary progression, making it clear when and how compensation can grow. With well-defined infrastructure and resources, they support employees throughout their career journey, providing clear advancement opportunities and a predictable work environment.

Moreover, established fintech companies provide access to larger resources for professional development and innovation. With bigger budgets, a broader network, and established frameworks, these companies can invest in advanced training programs, certifications, and cutting-edge technology to stay on top of trends.

What Kind of Employees Established Fintech Companies Need:

Established companies are also looking for specialists with deep expertise in specific areas and knowledge of the current trends in fintech. As they scale, they face a growing need for professionals with high-level experience to optimize and enhance existing operations. Unlike startups, which often hire either low-cost, fast-learning talent or seasoned experts to drive rapid growth, corporations look for a diverse range of employees.

The key lies in understanding the current challenges the business faces and identifying the right talent to address them. Startups favor fast movers – people who can adapt quickly and deliver immediate results. Corporations, on the other hand, value methodical thinkers who can systematically build and refine processes over time. However, this distinction isn't absolute. Large companies are constantly evolving – scaling from small teams to organizations of 100, 200, or 500+ employees. At different growth stages, they encounter new problems that require different types of people to solve them.

When you're inside the company, it’s often difficult to clearly identify the exact talent you need at a given moment. Most people fail to anticipate this – surely when you’re in the action, you know what your needs are? From an external perspective, however, it becomes easier to assess and assemble the right team or find the right person to address the company’s needs and accelerate growth. This clarity comes from exposure – working with numerous candidates daily, hearing their stories and challenges, and gaining insight into who fits where and when.

The Role of Globalization in Fintech Talent Acquisition

Trending Towards A Borderless World

Gone are the days of limiting hiring to a single city or country. The rise of remote work means fintech companies can tap into talent across Europe, the US, and beyond.

As businesses seek top-tier professionals, the focus is shifting from hiring within specific countries to recruiting the best talent across borders, regardless of location within regions like Europe. Just a few years ago, companies prioritized local hires – often from the same country – to simplify office attendance, streamline administrative processes, and ensure cultural alignment.

Today, however, priorities have evolved. Companies are now driven to hire the best talent available within their budget, regardless of where candidates are based. The rise of platforms like Deel and Native Teams has made it significantly easier to onboard and manage employees across different countries, removing logistical barriers. Additionally, diversity is increasingly recognized as essential for driving growth and innovation.

That said, this shift is most successful under experienced leadership capable of managing remote teams and fostering trust across borders. Strong, adaptable management plays a critical role in ensuring distributed teams thrive, enabling businesses to access highly skilled professionals with specialized expertise.

Growing Trends in Global Fintech Hiring

Global fintech talent pools provide businesses with the flexibility to match specific skills to organizational needs. By reaching beyond local boundaries, companies gain access to an incredibly diverse range of current expertise and experience.

However, when hiring globally, fintech companies must balance budgets with access to top-tier talent from different regions. This involves understanding salary expectations and potential cost savings in different parts of the world while ensuring future competitiveness in the market.

When your fintech business looks for specialists, you may find that highly skilled talents are increasingly moving around the globe. Some move to countries with a substantially lower cost of living, others pursue their dreams of relocating to a sunnier location, and some reunite with their families abroad. Still, teams may face challenges when hiring such individuals. There’s often a lingering skepticism about whether someone working remotely from these destinations is fully engaged, with concerns that they may become “too relaxed”.

Additionally, the time zone differences can create complications – people working from these locations are unlikely to be available outside of standard hours. Furthermore, the costs associated with bringing these remote employees to conferences or corporate events often offset any salary savings, making it less financially advantageous than initially expected.

Retention: Keeping Top Talent in Business

What Talented Professionals Want, Startup or Not:

Top talent seeks a clear path for career growth and progression, where they can see their future within their startup or enterprise. They want to understand how their contributions fit into the business’ long-term vision and the opportunities available to advance. Competitive compensation is also a critical factor, with many professionals expecting not just a good salary but also performance bonuses, stock options, or business equity. Beyond compensation, a strong company culture is essential to complete the checklist of expectations.

It is also essential for teams to be led by a capable and supportive manager. People work with and for people, and it is crucial for everyone to have a reliable leader who can guide, teach new skills, push them beyond their comfort zone, and provide support when needed. More and more individuals are willing to lower their salary expectations just to work with an inspiring manager and be part of a strong team. On the flip side, many people leave companies when they feel they are no longer growing, even if those companies offer comfortable working conditions. Growth, both personal and professional, is often the deciding factor for top talent in staying with or leaving a company, regardless of the perks or salary offered.

And naturally, the awkward and terrifying candidate question – market salary benchmarks. We often see companies either overpaying significantly or, conversely, trying to undercut candidates as much as possible. It's crucial to know the true market value of a candidate and offer them a competitive, fair salary. Sometimes, it’s even worth slightly overpaying or offering more than a candidate expects, as they may undervalue themselves. This strategy can help ensure that in a few months, you’re not at risk of losing that person to a competitor offering them a much higher salary. Being aware of salary trends and compensating fairly is key to retaining top talent.

Tips for Retaining Talent Once It’s Recruited:

• To retain top performers, regular feedback and recognition post-recruitment are essential. Acknowledging achievements, big and small, helps employees feel valued and motivated to continue providing their services at a high level;
• Providing good employees with opportunities for personal and professional development also plays a crucial role in retention. Investing in training programs, certifications, or mentorship can help employee skill sets to reach greater heights and make them feel supported in their career growth;
• Flexibility in work arrangements has also become increasingly important to job candidates. Many excellent professionals now expect the ability to work remotely or in a hybrid setup, offering better work-life balance and improved job satisfaction.
• Help feel that their work directly contributes to the company's success. It’s essential for employees to see their own growth in both hard skills (e.g., technical expertise) and soft skills (e.g., leadership, communication). Providing continuous challenges and clear paths for advancement keeps them engaged and committed.

It's important to note that many common perks no longer have the same impact on employee retention as they once did: think office lunches, health insurance, and additional vacation days. These benefits have become standard, and employees often view them as a given – something they can easily secure elsewhere if a company doesn’t offer them. What truly matters in retention is how the company supports an employee’s development and growth.

Development can take many forms, from practical skill enhancement to opportunities to take on challenging projects, manage teams, work with new technologies, or collaborate with diverse teams across different regions. Employees want to feel that their growth is actively supported and that the company is helping them broaden their horizons, both personally and professionally. This focus on continuous learning and career progression is much more compelling than traditional perks when it comes to retaining top talent.

Be Competitive for Amazing Candidates with the Right Talent Strategy

Attracting and retaining top fintech talent isn’t about throwing money at candidates—it’s about understanding what drives them. Whether you’re a fast-growing startup or an established fintech powerhouse, having the right hiring strategy is essential.

With Evotym’s expertise, we simplify the recruitment process, ensuring you connect with the talent that can drive your business forward. Don’t let the challenges of recruitment slow you down. Contact us today and let us help you build the team that will propel your business to new heights!

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