As evidenced by a strong jobs report this week, hiring is up across the board. The American economy added 943,000 jobs in July (up from 850,000 in June) which was the highest output in 2021. The recruiters at Travillian agree that this could be the hottest candidate market we’ve seen, perhaps in the last decade. If your financial institution is looking to make some key hires, here are a few best practices around hiring.
Storytelling is key.
With good candidates fielding multiple potential offers, make sure your opportunity is exciting and your institution’s history is compelling. Stick out like a sore thumb, so to speak; unique is good! Explain your company’s clear goals and vision for future growth. Specifically outline how your culture is different than your competitors. Illustrate career trajectory and how the role will further the candidates’ skill set. Recruiters like Travillian excel in setting the narrative and thinking strategically, especially for more critical, senior-level needs.
Don’t let too many days go between touch points with your candidate during the interview process. Post-interview feedback is critical. If you feel good about someone, don’t worry about finding other candidates to compare them to; act fast or you may be starting at square one. Some candidate pools- especially within loan production, risk, operations, and certainly fintech- are so popular at the moment, that their status can change from one day to the next.
Hire for culture fit, train for skills.
Some banks hire to the job description- bad idea. Try being more flexible and less choosy around finding the “perfect” candidate. Weigh their abilities and skills against their career desires and aspirations. Hire for cultural fit and work ethic, teach the skills.
Onboarding is critical.
Good banks onboard like champs, especially in the age of remote workers and WFH. Don’t just give your new colleague a computer and a t-shirt and forget about them. Assign mentors or “ambassadors” from different divisions. Make sure there are touchpoint conversations or video conferences scheduled well ahead of time. Have your HR or recruiter also check in with them, as the candidate may voice concerns that they don’t feel comfortable delivering to their immediate supervisor.
😊. Our track record speaks for itself. Travillian fosters these best practices and runs a focused, informative search process from beginning to end. Our bank recruiters have nearly 50 years of experience within the banking space. Travillian’s 20+ year history has imparted a diverse knowledge of the industry, and a deep network with the most qualified candidates. We also have a great presence within the financial institution realm, including tech, legal and financial advisors, board members, C-Suite executives, institutional investors, and private equity.