It is becoming harder for employers to find the talent they need in an increasingly crowded market.
Since the pandemic struck, we have seen movement in the jobs market that is not expected to settle for some time. This has meant that there are more active candidates right now, so searching for the right one is becoming more of a challenging task.
If your recruitment strategy in the past has consisted of posting a job advert and hoping to find the candidate you are looking for from those who apply, this might not be very effective in a highly saturated market.
If you need new digital payment, Fintech or cybersecurity talent – here is how to hire successfully in a crowded market.
Revise Your Job Roles
If you are currently recruiting for a new Fintech employee, now is the time to revisit your job roles.
Often, job descriptions are out of date, not entirely relevant or far too broad, which can result in your company attracting too many unsuitable candidates.
Has your business changed in the last six months? Many have, and altered or new job roles are now necessary. Have you had a consultation with everyone involved as to what you need from your new candidate?
If you are looking to replace someone who has left – do not reuse the same job advert. Think about what your new and specific needs for the business are before posting.
Be honest about what you are hoping to get from one candidate. If you are looking for cloud sales specialist, can you realistically expect that they will have expert coding and cybersecurity knowledge too?
And remember to be as specific as you can with your job description duties – the more open-ended you leave it, the more unsuitable candidates you will get who apply.
Upgrade Your Interview Process
In 2020 and beyond, any company who isn’t making use of video interviewing is losing out on a significant opportunity in the candidate market.
Virtual interviews allow you to save time, get to the suitable candidates faster and not to mention a lack of video interviews can alienate some of the best candidates.
While virtual interviews may not be able to replace real-life interviews 100% yet, they are an excellent way to manage your recruitment process in a saturated market.
Are you utilising video software for your interviews? If not, then now is the time to start. There are different ways you can incorporate video into your recruitment process. From getting applicants to send a virtual CV, having candidates answer questions you have given them on a pre-recorded video for you to consider, to the real-life in-person interview for the later stages.
Speak to your recruiter about introducing video into your recruitment process to help you sift through candidates more efficiently.
Set a Timetable
In tech recruiting, the timetable from your vacancy to the new starter being in their position can drag on, and this tends to happen when employers don’t realise the importance of adhering to a recruiting timetable.
Recruitment can be a lengthy process, and a large number of applicants can make the process even longer, taking up precious time.
Sit down with stakeholders and come up with a recruiting timetable and stick to it. This way, you won’t find the process slowly progressing and taking up even more of your time than is necessary.
Adapt Your Recruitment Strategy
Making a few small changes to your recruitment strategy can help to single out not just the ‘best’ candidates, but from those who apply, the ones which are right for your business.
- Make sure your employer branding is up to date in order to ‘sell’ your business to the valuable candidates you are hoping to attract.
- Treat your recruitment as a two-way process. Make sure you are open to feedback and are inviting candidates to interview you as much as you are screening them, in order to find the most suitable candidates for your business.
- Consider headhunting for business-critical roles; more on this below.
Work with a Recruiter
Finally, the foolproof way to ensure that, no matter how many candidates are interested in your role, you will always make the best hire, is to work with a recruiter.
Despite saturation in the market, the truth is that the very best candidates are still hard to find, and this is why using a recruitment process with a recruiter is still the best way to find the best talent for your organisation.
If you are currently in the process of recruiting or looking to recruit cybersecurity, payment or banking tech talent and are concerned about finding the best talent from a saturated market, we can help.
We can help you source the very best digital transformation, digital payments and cards, banking technology, cloud services, software development, infrastructure, technology architecture and network & cybersecurity talent for your business in the MENA.
We’re the experts at sourcing the best talent available – get in touch with me on +971(0)4 564 6255 or contact me here to find out how we can help you make the right hire.
The Middle East is a dynamic and growing market where identifying top talent and world-class professionals for the financial services and technology industry is highly competitive.
Flow provides an executive search service led by industry experts, geared to any level of role within the Financial Services and Technology Industries. This service is driven by innovative, established and proven research teams who customise each requirement from our clients.
Importantly at Flow, we meet with all our candidates face to face to gain an understanding of their requirements, ensuring we guide them in finding their ideal role.
To find out more get in contact with one of our team today.