Due to the rapid expansion of FinTech, new companies are being established and startups are expanding. This growth in the market has created multiple jobs that must be filled by skilled workers. In the article, “FinTech companies are in ‘a full-scale battle for talent,'” by Oscar William-Grut, he explains that certain positions for FinTech in the U.K. have been struggling to find talent. The hardest position that companies are trying to hire for are mechanical and engineering manager positions.
With the increase of FinTech as a leading market, the economy has continued to grow. However, with Brexit, the U.K’s job market is undesirable. This can create problems for FinTech companies that are headquartered in the United Kingdom. If these FinTech companies continue to have problems attracting potential employees, there can be a possibility of companies looking into moving overseas.
While there is a concern with recruiting talent, there can also be a worry about retaining talent. Since the industry is expanding at a fast pace, more opportunities will arise for those within the FinTech industry. Companies must stay competitive to keep employees happy and content with the job.
http://www.businessinsider.com/hardest-fintech-jobs-to-fill-in-uk-according-to-indeedcom-2017-3
Well written blog!.
Adding, to your points, FinTech startups are also competing for talent by collaborating with established financial service providers and banks. While banks might prefer to develop digital assets in-house, the difficulty of hiring capable developers and the pressure to produce results has made them more willing to work in partnership with FinTech startups. On the other end, the startups can exploit partnerships with banks and the appeal to IT talent to create their opportunities to establish positions in the financial services marketplace.