Ten Ways To Make a Top 1% FinTech Workplace

Over the years, we have interviewed hundreds of companies for these awards and spoke with leaders passionate about creating thriving workplaces. This has afforded us a unique insight into how to create a great culture, specifically within financial technology.   

So, what are some of the key features that we have seen time and time again when talking to the top percentile of employers in the space? 

Great talent needs to be surrounded by great talent to thrive. The best workplaces have, as Netflix terms it, high talent density and look to keep tech talent engaged by surrounding them with peers to learn from and be inspired by. When this is watered down, engagement drops significantly. A players will leave when surrounded by B players and the best are relentless in pursuit of the very best in their sector, making it clear why they should join their business. Recruitment is central to success. 

The best companies spend time to actually listen to what their people want. Common sense maybe but rarely common practice. Once they have listened, they act and then over-communicate with the team. They find numerous different ways to spread the message and keep the team constantly informed about developments, plans and where the company is heading. 

I’ve often been inspired by the leaders we have interviewed in these awards. They are passionate, focused and invariably incredibly good people to spend time with. Yet they do not do it alone. They recognise that great companies to work for need great leadership teams and develop and hire these people constantly. There is a saying that people leave their manager, not the company. Gallup suggests that the direct line manager is the single most important factor in creating workplace engagement. A great leadership team squashes politics, invests in people, develops talent, listens to problems and finds solutions. The Top 1% recognise that and focus on building great management teams relentlessly. 

No matter how good the company is, technology is beset by churn with some sources suggesting the average tenure for technologists is now less than 15 months. One reason for this is the rapid evolution of technology itself. People want to play with the best new tools, to develop their skill set, to grow and learn. A great company for a technologist is one that allows its staff access to great tools and to create something special. They need to work on something important that makes a difference and solves a challenge. Give people interesting problems, chances are you will build engagement. 

This doesn’t mean paying the best in the sector. It means thinking about what is fair, showing people a pathway to getting better compensation over time and adding the benefits that matter to them. For some, a pension is less important than family medical. For others, flexibility is more important than a basic salary. Having a flexible comp and bens strategy that is fair both for the market and internally is something that allows the rest to work seamlessly. 

Diversity comes in many shapes and sizes but the best companies that we have interviewed all focus on creating diverse environments where all of their team feel comfortable and flourish. Along with the natural benefits of diversity, the diversity of thought that these companies create allows for innovation at scale with clear evidence of out performance in the market with those who embrace it the most. 

The best places to work in financial technology understand they are talking to problem solvers, innovators and learners. These people are constantly looking to challenge and be challenged. From brown bag lunches to paid courses and conferences, to in-house and external development programmes, time, thought and effort are put into continuous improvement of the team. Some of the work that we have seen here has been absolutely world class. 

The companies I love talking to get that this isn’t simply a transaction between an employer and employee. It is more than just a job. In knowing that they relentlessly focus on building culture and the best of these combine purpose, innovation and fun. They communicate what they are doing, why it means something and why it’s important. They allow people to innovate and court ideas, often allowing people to pursue projects similar to Google’s famous 20% time. Finally, they create connections and make it a fun place to work. I’ve seen some excellent effort put in to make everyone feel part of the success and growth of the business. Engagement follows. 

In 25 years of recruiting, I am often amazed at how badly people can get the first few weeks wrong leading to costly and avoidable churn. The best companies ensure that when the offer is made and accepted, the hard work starts. They are in touch throughout the notice period. They create clear plans for day one, making it seamless for the new starter as they bed in. They have replicable processes to make sure nothing is forgotten. They create opportunities for connection with the team. They create thoughtful moments or personalise gifts. They stop by and listen. Again, this is more than a transaction.  

The purpose of the workplace should be set up to create an environment that makes success inevitable for the right people to thrive. They have the tools, the playbooks, the setups, the leadership, the training the workflows that mean that the only worry of the employee is to come in and give it their best effort. There is no accident in the best places to work. Culture and people are thought about as much as strategy, clients and technology. People first look after everything else. The planning that goes in place to allow people to thrive is a stand out feature of the best people we interview.