June 21, 2022
Posted on 21 June 2022
Do you have open job positions in crypto, blockchain or HFT?
Have they been listed online for a while, and can only be filled by a very specific candidate who has exactly the right qualifications and expertise?
If so, then we have a warning for you… change how you hire.
Decentralised finance has always had a disadvantage when it comes to recruitment.
A study conducted by Verdoe revealed that technical positions across technology and finance organisations have an average time-to-fill of around 50-60 days. This is almost double that of sales and marketing.
This last year alone, the UK has announced a state of crisis in a shortage of digital skills (Source: Gov UK). This suggests that hiring niche talent is only going to get harder. From now, businesses in the sector can expect to participate in a competitive and brutal recruitment environment.
For crypto, blockchain, and HFT organisations to see any chance of success, they will need to
However, it’s not going to be easy.
Talent shortages in crypto, blockchain and HFT are already leading to a lack of suitable applicants for open job positions. The advancing skills shortages are only adding to this. Today, business owners are placing pressure on hiring managers to source very specific candidates.
This is leading to a close-minded approach to hiring that needs to be eradicated.
Ultimately, the niche requests included in job advertisements are:
Industry leader Coindesk admits that “Crypto [has become] an especially difficult industry to break into without a passion and curiosity about the rapidly evolving sector”. Because of this, unless specialist talent already have experience working with, for example, Web 3, they are being sidelined for the consideration of a job role.
For firms in our sectors to hire niche talent, they are going to have to open themselves up to compromise. Instead of looking for “exact matches” to their ideal candidate persona, crypto, blockchain and HFT hiring managers have to prepare themselves to make certain allowances.
As a part of their unique employer value proposition, they could offer on-the-job training and mentorships to help niche talent make the transition from one industry to another. Plus, if these specialists recognise that you are willing to help them overcome one of the biggest challenges of working in DeFi, they will be much more likely to accept job offers.
Do you want to successfully hire niche talent? There’s something you need to know.
In our publication “How to Secure Niche Talent”, we discovered a trend where businesses need to be smart with their recruitment and evolve into our new age.
A big part of hiring niche talent in crypto, blockchain and HFT will be convincing them of the benefits of working in our sector. For organisations, this could be as simple as:
In 2022, niche talent are worrying that a move into DeFi is only a temporary solution to a stall in their career.
They want a long-term guarantee.
If you can step up and demonstrate your strategy to survive the recession, you’ll be able to prove yourself as a bold and innovative employer that’s worth working for.
Another way to expand your recruitment efforts and hire niche talent is to start looking internally at the communication channels and support networks you have in place for new hires.
The “loyalist” culture of crypto, blockchain and HFT can be intimidating to someone with no background experience, so you need to teach your employees about the importance of being inclusive and what part they can play in making others feel welcome.
Niche talent have no reason to accept entry-level positions with low remuneration; not when they have extensive earning potential elsewhere (such as in other sectors within finance or technology).
Therefore, you need to carefully research what these prospective candidates will expect of you before you start your recruitment journey.
The support of specialist recruiters will be mission-critical to your hiring success.
Today, recruitment is an agile process that requires a full-time commitment to marketing, networking, data analytics and industry expertise.
Niche talent will expect an incredible candidate experience from start to finish, and Source Control can help deliver that. Our attention to detail allows us to:
Not every candidate that applies to your job advertisements will be perfect… but some will be close.
In some instances, it’s more important to select talent that aligns with your corporate culture than pick someone with the most experience.
Rather than turning away suitable talent, look for qualified job seekers who are eager to learn and can rapidly get up to speed with sector skills.
Hire based on potential.
We are the global experts in the placement services of technical professionals from low-latency and distributed systems engineering backgrounds into blockchain, crypto and HFT.
We place top-tier talent at all skill levels from junior to executive hires on a permanent, contract, contingent, or retained basis. If you’ve been looking to advance your company, read our latest guide on ‘How to Secure Niche Talent in Crypto, Blockchain and High Frequency Trading’.
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