What your EVP says about your fintech company
The world of Financial Technology (fintech) is a rapidly evolving marketplace and remaining at the forefront of this competitive industry requires an innovative approach to marketing and selling your products. The first step to a successful marketing strategy is employing a forward thinking and motivated workforce.
Building a team that will deliver business success relies on marketing and selling the company to prospective job seekers whilst delivering on its promises to existing personnel. The two elements go hand in hand as nurturing existing talent is a key element of developing a reputation as a leading employer in the fintech environment.
Developing a successful talent attraction strategy
The companies that are most successful at talent attraction are those that understand the importance of the following points:
1) Positive culture. Developing a diverse workforce wherein all individuals work together to achieve common aims and are appropriately rewarded for their efforts is the most important step to reducing attrition, increasing loyalty and creating a culture in which staff want to stay. When a business has a positive working culture and low turnover rates, it also develops a reputation as a great employer. Once this reputation is established, any and all business communications must continue to reinforce this image.
2) Continual attraction is the result of a great reputation and a regular cycle of engagement that solidifies that reputation in the minds of those who are considering their next move. This could include employee testimonials on your website or social media feeds, community engagement such as with local schools and colleges, or supporting charity events.
3) Employer Value Proposition. Your EVP is crucial to your retention and recruitment metrics. It is the way in which you reward your staff and the opportunities that you offer them. Your EVP will encompass your unique selling points and can set your company apart from the competition. It must be carefully crafted to appeal to your target demographic. In the same way as your products must satisfy a need in the lives of your consumers, employment with your company must satisfy a need in the lives of your staff. The key element is understanding what that need is and tailoring your offering to meet it.
What your EVP says about you
In developing your brand, you will have taken the time to consider the image that you wish to portray to the world. Your products will appeal to a particular sector of society and they will fulfil a particular purpose. In the same way, your company must staff itself with people who not only believe in your vision and product but will sell it for you. Your people must embody the values of your business that are important to you.
Your EVP is the way in which you will build that workforce whose ethos aligns with your own. You will need your workforce to reflect your target customer demographics and to be passionate about the direction of your business. Therefore, it is essential to understand the needs and wants of that particular demographic when planning your offering.
If you are seeking to appeal to a new generation of tech savvy starters, you will need to consider a different offering than if you are seeking those with a lifetime's experience and transferable skills. Your value proposition will promote your organisation in all of your communications and it must therefore remain consistent. Changing your strategic direction will confuse and unsettle your audience so once you have set your business strategy and developed an appropriate reward package to attract the people that you need, you must commit to it.
For help with building your brand and attracting the talent that your business needs to thrive, please contact Captar today. Our statistics speak for themselves and we look forward to being a part of your success story.