From Leaky Buckets to Lasting Change

In the rapidly evolving world of FinTech, where innovation is key and the pace is relentless, it's essential to create environments that not only attract but also retain diverse talent. In a recent episode of FinTech's DEI Discussions podcast, Nadia had the pleasure of hosting Abi Bryant Spolar, the Global Head of Customer Success at Notabene. Abi shared her journey, insights into FinTech recruitment, and her passion for creating an inclusive environment within the fintech industry. This episode delves into the key takeaways from their conversation, highlighting opportunities in fintech careers, the role of FinTech recruitment agencies, and how the industry can better support and retain talent.

The Landscape of FinTech Careers: Beyond the Technical

Abi Bryant Spolar's journey into fintech began about ten years ago when she entered the tech space through an education technology company in Stockholm. Since then, she has moved into the crypto space, where she currently leads the customer success team at Notabene. Her experience underscores a crucial point about fintech careers: you don't have to be an engineer to succeed in this field. This is a common misconception that often deters potential candidates, particularly women, from pursuing careers in FinTech.

Abi emphasised that while technical roles are crucial, the industry also needs smart, intelligent people who excel in relationship building, strategy, and customer success. Fintech recruiters and fintech recruitment agencies should, therefore, broaden their search parameters and look for diverse skill sets. This approach will not only diversify the talent pool but also help in filling roles that are essential for the holistic growth of fintech companies.

FinTech Recruitment: Building Inclusive Teams

Diversity and inclusion are not just buzzwords; they are essential components of a thriving workplace. Abi highlighted how Notabene has made significant strides in this area, with a management team that is 50% female and includes women in key roles such as Chief Operating Officer and Chief Product Officer. This kind of representation at the top sets a positive tone for the entire organisation and makes it clear that fintech jobs are accessible and rewarding for everyone, regardless of gender.

However, achieving diversity in fintech recruitment goes beyond just hiring. It involves creating an environment where diverse voices are heard and respected. Abi mentioned the importance of using tools to check for gender bias in job descriptions, a simple yet effective way to ensure that the language used in recruitment processes is inclusive. Fintech recruiters and fintech recruitment agencies can adopt similar practices to attract a wider range of candidates.

Retaining Talent: The Challenge of Flexibility and Support

While recruiting diverse talent is a critical first step, retaining that talent is an ongoing challenge. Abi spoke passionately about the need for flexibility in the workplace, particularly for women who often juggle multiple roles, both professionally and personally. The fintech industry, like many others, has historically seen a drop-off in female participation as women reach certain life stages, such as starting a family. This is where flexibility in fintech jobs becomes vital.

Abi's perspective is that work should fit around an employee's life, not the other way around. This approach is particularly relevant in today's global work environment, where the traditional 9-to-5 office schedule is increasingly obsolete. By offering flexible working arrangements, fintech companies can retain talented individuals who might otherwise feel compelled to leave the workforce. This is not just a matter of convenience; it is a crucial strategy for keeping top talent engaged and productive.

FinTech Jobs and the Importance of Male Allies

Creating an inclusive environment is not solely the responsibility of women or marginalised groups. Abi emphasised the role of male allies in fostering a culture of inclusion. Inclusion is a collective effort, and it requires the participation of everyone within an organisation. This includes men in leadership positions who can influence company policies and culture. By engaging in conversations about flexibility, inclusion, and diversity, male allies can help create a more supportive environment for all employees.

Abi also stressed the importance of respectful dialogue when addressing issues of inclusion. Often, biases and exclusionary practices are not the result of malice but rather a lack of awareness. By having compassionate, constructive conversations, companies can make significant strides in creating a more inclusive environment. This is an area where fintech recruiters and agencies can play a crucial role by educating hiring managers and shaping more inclusive recruitment practices.

The Leaky Bucket: A Metaphor for Talent Retention

One of the most compelling metaphors Abi used during the conversation was the concept of the "leaky bucket." In customer success, this term refers to the idea that you can keep signing new clients, but if you're not retaining them, your efforts are like pouring water into a bucket with holes. The same applies to talent retention. If fintech companies focus solely on recruiting diverse talent without addressing the factors that lead to attrition, they will continually lose valuable employees.

For women, particularly those in senior roles, the lack of flexibility and support during key life stages can lead to them leaving the industry. This creates a vicious cycle where younger women, seeing the lack of female role models in leadership positions, may be discouraged from pursuing long-term careers in fintech. Therefore, companies must address the "leaky bucket" by providing the necessary support, such as flexible working arrangements, to retain their talent.

Walking the Talk: Creating Inclusive Workplaces

Inclusion in fintech is not just about talking the talk; it's about walking the talk. Abi offered several practical steps that companies can take to create truly inclusive workplaces. This includes ensuring that hiring panels are diverse, providing ongoing support for employees at all stages of their careers, and fostering an environment where everyone feels safe to express their concerns and ideas.

Fintech recruiters and recruitment agencies also have a role to play in this process. By advocating for diversity and inclusion during the hiring process and helping companies identify and address potential biases, they can contribute to building more inclusive workplaces. Moreover, by staying informed about the latest tools and best practices, they can guide companies in creating job descriptions and recruitment strategies that attract a diverse range of candidates.

The Future of FinTech Careers

The conversation between Abi Bryant Spolar and Nadia offers valuable insights into the current state of FinTech careers and the steps that need to be taken to make the industry more inclusive. From debunking the myth that fintech jobs are only for engineers to emphasising the importance of flexibility and male allies, Abi's perspectives highlight the challenges and opportunities within the industry.

As fintech continues to grow and evolve, the need for diverse talent will only become more critical. By adopting inclusive recruitment practices and creating supportive work environments, fintech companies can ensure that they not only attract but also retain the best talent. This is not just a moral imperative; it is a business necessity in an industry where innovation and adaptability are key to success.

For those interested in pursuing a career in fintech, the message is clear: there are numerous opportunities available, and you don't need to fit into a specific mould to succeed. Whether you're working with a fintech recruitment agency or exploring opportunities on your own, the key is to find a role that aligns with your skills and passions. And for companies, the challenge is to create environments where every employee feels valued and empowered to bring their whole self to work.

In the end, the future of fintech careers depends on the industry's ability to embrace diversity and inclusion at every level. By walking the talk, fintech companies can not only achieve their business goals but also make a positive impact on society as a whole.