Global Hiring Trends in Financial & Professional Services Business

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Financial Hiring Trends Report of 2023

Owing to the pandemic and advancement of technologies, the global FinTech / Financial Services, along with service-providers from Professional Services / Management Consulting, and other highly-competitive service industries, have been undergoing significant remodelling when it comes to operations. This has led to new practices and locations for hiring new specialised talent. The impact of COVID-19 on hiring trends has given way to improved strategies and innovative requirements for companies across sectors. 

What's the scope for hiring talent this year? Which skills and abilities do organizations look for when hiring talent? How can managers attract exceptional talent to future-proof their businesses? 

Here are some highlights of the hiring trends across industries:

  • Rise in demand for WFH

Having set up the advanced framework to make remote working possible, organisations, particularly bigger ones, will probably stick with it even after the pandemic. It will lessen their overheads and encourage productivity and employee skills from an extensive geography.

Working from home has become a widespread practice—even in conventional organisations that were previously resistant to it. The means of remote working, now accessible to small-cap as well as large-cap organisations, implies that they can continue to support clients from any place on the planet. This mode of working is proving fruitful for employers as well. Employers leverage decreased office expenses and significant degrees of assurance and efficiency from representatives who have adjusted well to working distantly.

  • Automation

As organisations, specifically those in the BFSI sector, have become progressively automated, CFOs need staff with innovative skills to prepare for a progressive future. Assuming they need to stay highly competitive, organisations should bring together their processes and drive cost efficiencies. These include financial modelling and forecasting to information analysis and security.

It is presently insufficient for financial and accounting experts to have professional capabilities. To enhance their job, they should likewise possess specialised skills and be open to working with cloud-based programming, e-records, and advanced venture asset management frameworks. To keep up with the pace of advancement, employers should construct a learning culture with staff spurred to work on furthering their specialised abilities.

  • Giving importance to cybersecurity

As obvious as it sounds, cybersecurity is the most significant trend in finance. The fact of the matter is if you are part of regulated businesses, you are also required to have access to the very best cybersecurity and digital protection. With internet banking, online exchanges, and everything monetary taking place on the web, cybersecurity is becoming a fundamental part of all associations, particularly those in the financial (personal and commercial) business.

Fortunately, global HR recruiting specialists are attempting to create inventive employing incentives that will assist with hiring the best ability while giving candidates an extraordinary experience. This method will help draw in more talent.

Need for global hiring partners

Changes in the overall business atmosphere are driving requirements for fresh recruits with an array of abilities. These include innovation and security, implying data wranglers are on the top of the recruit list.

Here are some of the specialist skills that are in demand:

  • Programming Skills: Highly-gifted computer programmers versed with a variety of applications, sites and full-stack platforms are essential to the development-oriented FinTech industry. Moreover, qualified software engineers, coders, and designers are expected to master the Application Programming Interfaces (API) of new items and administrations and assist with the continuous upkeep of these goods and services.

  • Digital Experts: Cybercriminals are getting smarter and digital attacks are getting more complex. So there is an increasing need for cybersecurity experts. Nonetheless, the interest–supply gap is vast. Anybody with explicit abilities in this space is in great demand.

  • Soft Skills: The complex nature of FinTech implies that employees with greater compassion are bound to prevail over individuals who have just specialised abilities. Other basic relationship-building skills for this industry include working well with others and in groups, creating connections, sharing thoughts, and overseeing activities.

The fact that these trends are gradually being accepted across industries show how they are slowly adapting to the changing working environment, which comes as a revolutionary move for both companies as well as candidates.

Besides all this, if there’s one aspect helping management consulting, professional services companies and the FinTech industry, it is a concrete background check. Such checks, before onboarding employees, is fundamental for small as well as big companies. 

Veremark helps organizations undertake background checks to assist in filtering out candidates in the process of hiring. This helps organizations increase employee retention, and find the right talent for the right jobs. Veremark helps companies become friendly workplaces, and ensures consistent business development.


What background check do I need?

This depends on the industry and type of role you are recruiting for. To determine whether you need reference checks, identity checks, bankruptcy checks, civil background checks, credit checks for employment or any of the other background checks we offer, chat to our team of dedicated account managers.

Why should employers check the background of potential employees?

Many industries have compliance-related employment check requirements. And even if your industry doesn’t, remember that your staff have access to assets and data that must be protected. When you employ a new staff member you need to be certain that they have the best interests of your business at heart. Carrying out comprehensive background checking helps mitigate risk and ensures a safer hiring decision.

How long do background checks take?

Again, this depends on the type of checks you need. Simple identity checks can be carried out in as little as a few hours but a worldwide criminal background check for instance might take several weeks. A simple pre-employment check package takes around a week. Our account managers are specialists and can provide detailed information into which checks you need and how long they will take.

Can you do a background check online?

All Veremark checks are carried out online and digitally. This eliminates the need to collect, store and manage paper documents and information making the process faster, more efficient and ensures complete safety of candidate data and documents.

What are the benefits of a background check?

In a competitive marketplace, making the right hiring decisions is key to the success of your company. Employment background checks enables you to understand more about your candidates before making crucial decisions which can have either beneficial or catastrophic effects on your business.

What does a background check show?

Background checks not only provide useful insights into a candidate’s work history, skills and education, but they can also offer richer detail into someone’s personality and character traits. This gives you a huge advantage when considering who to hire. Background checking also ensures that candidates are legally allowed to carry out certain roles, failed criminal and credit checks could prevent them from working with vulnerable people or in a financial function.

Transform your hiring process

Request a discovery session with one of our background screening experts today.

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