{"id":319,"date":"2020-10-18T13:47:33","date_gmt":"2020-10-18T12:47:33","guid":{"rendered":"http:\/\/sage-people-scraping.local\/?p=319"},"modified":"2026-01-09T14:58:07","modified_gmt":"2026-01-09T14:58:07","slug":"why-fintech-companies-need-hr-strategy-right","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ie\/blog\/why-fintech-companies-need-hr-strategy-right\/","title":{"rendered":"5 reasons why fintech companies need to get their HR strategy right"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tPeople & Leadership<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\t5 reasons why fintech companies need to get their HR strategy right\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"\"\t\t\t\tJessica Leyshon<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n\n\n

The fintech industry is booming.<\/p>\n\n\n\n

With the increase in demand for mobile payments and innovative banking apps such as Monzo and Stripe, the sector is expected to only continue its thunderous growth.<\/p>\n\n\n\n

Big things are expected from fintech companies. And big things are expected from their people. But how can fast-growing, scale-up fintech companies make sure they have the right support in place for their people?<\/p>\n\n\n\n

This article covers five tips for fintech companies to help them get their HR strategy right.<\/p>\n\n\n\n

1. Get it right early and you\u2019ll save yourself a headache in the long run<\/h2>\n\n\n\n

It\u2019s easy to know how many people work for your company in the early days \u2013 you just need to cast your eyes around the office.<\/p>\n\n\n\n

But, when you\u2019re scaling up, it\u2019s harder to keep track.<\/p>\n\n\n\n

Leaders can be so focused on building and growing a business that you might reach 200 employees, and find you\u2019re still using spreadsheets, and the same processes as you did when you were a team of five.<\/p>\n\n\n\n

And if you realise this when you reach 300 or 400 employees, then suddenly the task of managing your people and how you keep track of personal information becomes a business-critical issue.<\/p>\n\n\n\n

Fintech companies are experts when it comes to the power of using automation to deliver more efficient transactions and processes, such as payment processing or financial trading.<\/p>\n\n\n\n

So, if you\u2019re automating transactional activities for your consumers, why not for your employees, too?<\/p>\n\n\n\n

You could, for example, automate key tasks such as booking holidays, managing performance reviews and buying additional employee benefits.<\/p>\n\n\n\n

HR teams are moving towards automating a lot of the traditional ways of working, and giving their employees autonomy to do things themselves.<\/p>\n\n\n\n

It means HR and people teams are free to focus on people and building great workforce experiences that are going to engage staff.<\/p>\n\n\n\n

2. Reflecting innovation across your business will help it thrive<\/h2>\n\n\n\n

It sounds a no-brainer, but if you\u2019re an innovative company, then the technology and approaches that you use to manage your people needs to reflect this.<\/p>\n\n\n\n

If your business is nimble and responsive, you need processes and technology that helps, not hinders employees.<\/p>\n\n\n\n

When it comes to managing and supporting your workforce, your HR and People system<\/a> must be accessible by everyone.<\/p>\n\n\n\n

This means having instant on-demand access on any device, at any time.<\/p>\n\n\n\n

What\u2019s more, it needs to be easy to set up and use, so your people can spend their time focusing on your customers.<\/p>\n\n\n\n

You also likely want to attract the best to work for you.<\/p>\n\n\n\n

Your teams and potential candidates are likely tech savvy, always on mobile, and potentially dispersed in different locations and even time zones.<\/p>\n\n\n\n

Make sure the technology you use in your business reflects the innovation of your product that they want to help you build.<\/p>\n\n\n\n

It will make their, and your, lives easier.<\/p>\n\n\n\n

3. Giving your employees the same treatment you give your customers will mean you attract and keep the best<\/h2>\n\n\n\n

Employer brand is a term often used by some of the tech giants \u2013 they have a strategy in place to attract the best.<\/p>\n\n\n\n

They don\u2019t just think about their consumer brand, but also how they market themselves as a talent magnet to those with the skills and values they want in their business.<\/p>\n\n\n\n

Understand your employer brand and use it to attract the talent you need.<\/p>\n\n\n\n

In the early days, getting your first customers can be an exhilarating milestone. You might collect data about them for marketing purposes through a customer relationship management (CRM) system, and know their buying habits.<\/p>\n\n\n\n

Make sure you know your people as well as you know your customers, and give them the same reverential treatment.<\/p>\n\n\n\n

They\u2019re just as important to growth \u2013 if not more.<\/p>\n\n\n\n

4. Protecting yourself from security risks and data breaches is vital to protecting your brand reputation<\/h2>\n\n\n\n

You know the importance of protecting customer data. It\u2019s probably the number one priority for you as you grow your business; reputations can be damaged in hours if you don\u2019t get it right.<\/p>\n\n\n\n

Do you have the same security measures in place for your employer data, though? With GDPR, it\u2019s also important to consider this now.<\/p>\n\n\n\n

If you\u2019re scaling up, make sure your employee data is secure, cloud-based, and sufficiently mitigated against risks.<\/p>\n\n\n\n

Getting this right as you scale up will solve you a whole range of potential issues later down the line.<\/p>\n\n\n\n

5. Nurture your employees to get the best from and for them<\/strong><\/h2>\n\n\n\n

Finally, who you hire in the startup and scaling-up phases of your business can be critical for the growth of your business \u2013 and can even make or break it.<\/p>\n\n\n\n

It\u2019s vital to attract the best \u2013 and once you\u2019ve got them, hold on to them. Giving your employees great workforce experiences is vital to this.<\/p>\n\n\n\n

We\u2019re not talking about ping pong tables and free food \u2013 we\u2019re talking about organisations where employees feel truly engaged, empowered and inspired.<\/p>\n\n\n\n

Where your company culture can be identified as soon as you enter a building or meet a team. Employees can tell if they\u2019re valued, and its reflected in the output of their work.<\/p>\n\n\n\n

This is also why we\u2019re seeing the emergence of chief people officers in tech companies.<\/p>\n\n\n\n

Fast-growing organisations scaling up are automating the administrative tasks, so their HR teams can concentrate on people and employee experiences.<\/p>\n\n\n\n

Building the right culture is critical for success \u2013 so make sure you create the right one.<\/p>\n\n\n

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Join 1.5 million subscribers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tSubscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\"\"\t\t\t<\/div>\n<\/div>\n\n

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