Fin Tech And Financial Services Sectors Compete For New Tech Talent

In the competitive labour market, it is important for companies to attract the best talent. One of the tools that most companies use is reviews from employees because they can showcase the specific strengths of an organization. An example is King Kong agency reviews from its former and current employees that provide job seekers with an insight on how the digital agency works.

FinTechs and financial services and technology firms are competing to attract new talent to fuel growth. The growth of UK’s FinTech sector can be hampered by the shortage of technological and financial skills. The first half of 2019 witnessed a record-breaking $2.9 billion investment in UK’s FinTech industry. Growth means a significant increase in their talent requirements.

Over the past 2 years, FinTech vacancies for IT professionals have increased by almost two-thirds. In the last 3 months ending September 2019, vacancies in the FinTech sector accounted for 3.03% of all its IT vacancies compared to 1.84% for the same period in 2017.

However, widespread digitalization in the Financial Services (FS) sector required FinTechs to compete for tech skills. Many companies in the FS sector are established organizations with deep pockets. FS companies attract new tech talent with higher permanent salaries that increased by 4% this year compared to last year.

In the tech sector, salaries are stable and vacancies for specific skills continue to increase. For example, the demand for web developers increased by almost 2% this year compared to last year. Meanwhile, demand for engineers has increased by more than 3%. This has galvanized the FS sector to offer higher salaries for developers and engineers.

Even if they were built on technology, UK’s FinTechs will either thrive or die depending on their ability to attract new talent. Since FinTechs are better placed in creating powerful employee propositions, they can secure their future through strategies that will attract and retain talent.

The availability of reviews in job sites provides job seekers with an insider look on the support that a company provides. It is common for tech talents to read King Kong agency reviews to determine whether it is the best place to work for career growth.