The Conexus Group has published its Fintech Skills and Employment report 2020, showing that hiring activity is expected to pick up pace as we approach 2021.
Over half of fintech employers are expected to grow their workforce in the coming year – and for 20% “significantly” so – reflecting a growing level of confidence in the path ahead.
In fact, despite the heavy impact of Covid-19 this year, the fintech industry has actually grown its headcount. The sector will be an estimated 2% larger by the end of 2020 compared to a year earlier.
At the start of 2020, growth was already the plan for a full 82% of fintech businesses. Now tracking lower at 47%, ambitions have clearly been scaled back for some. It is heartening to see that the majority of businesses are looking for ways to get talent acquisition plans back on track.
Other key findings from the talent and HR-focused report include:
- 60% Of Employers Made Hires Remotely This Year – Travel restrictions and social distancing slowed (but didn’t stop) hiring and staff onboarding.
- 83% Of Fintech Employees Worked Remotely – As the whole world turned to Zoom, fintech was no exception – but the long-term remains unclear.
- Zero Redundancies Or Furloughs Made By 61% Of Fintechs – The majority of fintech businesses made no reductions, whilst a small minority in hard-hit sub-sectors made significant cutbacks.
- “Hiring high quality talent” The #02 Biggest Concern Only – “Uncertain market demand” ranked higher as a strategic concern for businesses.
This report was informed by input from over 80 C-Level, leadership and HR-focused respondents over the course of August and September.