5 Main Reasons Fintech Developers Leave Their Jobs
If you need a fresh injection of developer talent for your fintech enterprise, you could be in for a shock. Right now, a shortage of candidates with the right blend of skills means that those with talent and experience can essentially pick their ideal opportunity, leaving employers struggling to fill their key vacancies. Furthermore, the time and expense that any fintech recruitment process entails can put a dent in your budget - and morale.
You can, of course, take steps to make your organisation more attractive to high-calibre candidates by highlighting perks such as a diverse or inclusive workplace culture and an outstanding employer value proposition (EVP). However, a better approach in the current climate is to focus on retaining existing development talent.
One: Offer Exciting Projects
No one enjoys doing the same thing day in, day out, and fintech developers are no exception. If you keep handing them repetitive projects, there's a high chance that talented professionals will start to look for greener pastures. Make sure that the essential tasks such as maintenance and upgrades are fairly shared between all team members, giving everyone their chance to focus on more innovative projects, too.
Two: Make Sure Talent Feels Valued
If your developers are working hard for your business, then leaving them to feel overlooked is a sure-fire way to sow the seeds of dissatisfaction. Instead, clearly express to your developers your recognition of the value that they bring to your organisation and that they are genuinely appreciated for their efforts. Highlight how their work has added real value to your business and allowed you to meet key objectives rather than merely offering non-specific platitudes.
Three: Offer Career Development Opportunities
A vital element in keeping your talented development team within your organisation is to offer them plenty of ways to grow professionally without having to leave. This is by no means restricted to the provision of training courses. Investing in the latest technology platforms will also help to keep your developers learning. Giving your team the scope to try new approaches for project work will also appeal to those who want to stretch themselves technically and professionally and will help to enhance motivation in the process.
Four: Avoid Burnout
Developers work hard, and this intensive approach can lead to high levels of stress or burnout. Try to create a better environment for your team by avoiding setting highly pressured short deadlines and moving your general corporate culture away from long working days and unpaid overtime. Instead, focus on promoting a healthy work-life balance for all staff, and where possible, offer flexible working styles such as hybrid or remote work.
Five: Provide The Right Compensation
If you aren't paying your developers the going rate, then it shouldn't come as a surprise if they start to look for a better salary elsewhere. Make sure your team feels valued with a competitive salary, and reward their great results with bonuses or other incentives. With developer talent in such high demand, smaller fintech organisations can overcome the restrictions of a limited budget for salaries by offering creative benefits, such as a great working culture and sustainability schemes.
Retain Your Key Talent With Captar
Achieving high levels of employee retention can be a serious challenge, particularly for high demand talent such as fintech developers. Happily, you don't have to do it all alone. By partnering with the experts at Captar, you can be sure of giving your enterprise the personnel it needs to achieve all of its objectives, whether that's by creating an ideal plan for enhancing employee retention or finding the perfect recruitment strategy for your needs. Find out more about Captar's services today at www.captarpartners.com.