Why CEOs Need to Rethink Their Employer Brand
Employer branding has been a dominant HR topic over the last few years as banking tech employers aimed to position themselves as the go-to employer for the most valuable candidates.
But the pandemic has challenged significant parts of what it means to be a ‘good’ employer, and now companies must adapt to keep up.
As CEO of a FinTech or banking technology company, now is the time to reassess your employer brand for the post-Covid market.
How have the market changes we’ve seen this year affected what employees are looking for from an employer? What can you do to continue to stand out as an excellent employer? Do your competitors have the edge over you in the talent attraction stakes?
This guide is here to help. First, let’s look at how market changes have affected the MENA banking tech and cybersecurity sectors.
What Has Changed Since the Pandemic?
The Covid-19 crisis has been the largest shake-up in our sector for many years.
The pandemic has accelerated digital transformations; the banking tech sphere is now different from what it was pre-pandemic, but how has it changed?
- Here is more of an urgent need for tech companies to be able to provide what clients and customers need right now
- Companies are having to think longer-term about what their customers are going to need in our post-pandemic world
- Businesses are having to redefine themselves and push the limits of the innovation to compete for customers in a market which is getting more competitive
A recent Accenture report found that 79% of banking executives agree that there is a need to “dramatically reengineer the experiences that bring technology and people together in a more human-centric way.”
What changes have you made in your business this year? Many organisations have changed their teams, their products and services, their daily operations; many things have been altered.
To create success in your banking tech business after a time of change, revisiting your employer brand is the first step.
Let’s look at the importance of your employer brand in our post-Covid world.
The Right Management for Your Employer Brand
Your employer brand is the beacon that attracts the best FinTech candidates to your organisation, and the need to attract the best talent now is greater than ever.
One immediate concern for CEOs during the Covid crisis has been the strength of their management teams – only teams with leaders skilled in crisis management have come through the pandemic unscathed.
How have your management team handled the crisis? Has your team managed to come out stronger, or are there cracks that are beginning to show?
Having excellent management in your tech team is one of the best ways to maintain an excellent employer brand. You need to be confident that your team are being steered in the right direction and are given the practical and emotional support they need to thrive.
The Covid crisis put unprecedented pressure on banking tech teams, as they faced unknown challenges for the first time.
Team members who did not feel supported due to a lack of robust management stemming from a poor employer brand will now be considering if they should continue their career with this company, or to look for a new role somewhere with a better employer brand.
Talent Attraction: Getting Your Employer Brand Working for You
Looking to the future – attracting new talent to help your company achieve success in our post-Covid world means attracting the best talent.
Your employer brand is the number one tool you have to do this.
Many employees are now aware of how brands and businesses acted during the pandemic – and the most valuable candidates are looking to work with the employers who can offer them the most in terms of job satisfaction, career opportunities plus salary and benefits.
The banking tech and cybersecurity sectors were experiencing skills shortages before the pandemic. That is, there is a distinct shortage of candidates with the advanced skills needed to drive banking tech businesses forwards, and especially now with newly added challenges.
To recruit and retain the best banking tech talent, consider the following for your post-Covid employer branding strategy:
- Media consumption is expected to grow by 60% in the wake of the crisis – are you utilising all digital channels to promote your brand presence?
- Candidates and customers are now looking for brands with the ‘personal touch’ – ensure you are portraying the human element of your company on your website and social media. Any prospective candidate or customer should be able to easily find the values and ethics that your company lives by.
- Update your hiring process and careers page or resources – hiring in a post-pandemic world means video interviews, revisiting your job specifications, perhaps hiring for entirely new roles. If you need to discuss your post-pandemic hiring process with the experts, get in touch with us today.
Don’t assume that your employer brand doesn’t need revisiting for the new normal – the FinTech brands that are thriving right now are the ones who are delivering the latest technologies, striving for excellence in their products and services and within their teams.
If you are looking to recruit new banking tech talent into your team, we can help. Get in touch with us to discuss your recruitment needs for your post-pandemic success strategy – click here or call us on +9714 442 0921 .