In the rapidly growing finance industry of Saudi Arabia (KSA) and the United Arab Emirates (UAE), hiring the best talent for your company can be challenging. When it comes to hiring, most companies resort to conventional methods to attract top finance talent. However, attracting top talent requires innovative approaches. While leveraging networks, offering competitive packages, partnering with universities, and promoting diversity and inclusion are vital, companies must be willing to adapt to unconventional approaches to secure the best talent truly.
Here's a comprehensive guide for employers on effectively sourcing and attracting finance industry talent in KSA and UAE.
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7 Ways to Source and Attract Finance Industry Talent in KSA and UAE
1. Embrace Fintech Collaborations
In the fast-paced and rapidly evolving landscape of the Middle East’s finance industry, collaboration with fintech companies and startups can keep you ahead of the curve. Hosting hackathons and coding challenges will help you identify and engage with tech-savvy individuals passionate about financial innovation. Rise Innovation Labs by Barclays organizes hackathons worldwide, attracting top talent and fostering creative solutions to industry challenges.
Additionally, partnering with fintech startups can give you access to a diverse talent pool and facilitate knowledge exchange, ultimately driving innovation within your company.
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2. Offer Financial Wellness Programs
PwC’s Financial Wellness Survey for 2023 revealed that finances are the top cause of stress in the lives of 57% of the employees. To stand out as a top recruiter, you can start by prioritizing your employees' financial health.
In addition to offering market-competitive salary packages, offer comprehensive financial wellness programs, including retirement planning workshops, debt management seminars, and access to financial advisors, to show that you care about employees' financial health and well-being.
3. Flexible Work Arrangements
Finance job roles are usually strenuous and infamous for their demanding work hours. Recognizing the importance of work-life balance, employers can offer flexible work arrangements to attract top talent worldwide. Being accommodating about remote work, allowing flexible work hours, paid leaves and compressed workweeks enhances job satisfaction and also results in high levels of productivity
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4. Reverse Mentorship Programs - Diverse Company Culture
Reverse mentoring programs help bridge the gap between senior executives and young recruits. Junior employees with fresh perspectives and insights mentoring senior executives can foster a culture of learning and innovation within organizations. Implementing such programs can demonstrate your commitment to diversity, inclusivity, and continuous learning, making your organization an attractive destination for top talent in KSA and UAE.
One example is PwC’s Reverse Mentoring Program, which pairs senior executives with junior employees to exchange knowledge and perspectives, resulting in mutual learning and growth.
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5. Provide Industry Relevant Learning Opportunities
With the rising popularity of blockchain technology and cryptocurrencies, offering opportunities to finance professionals to expand their skill sets will ensure they stay relevant in the industry. Hosting educational sessions and financial workshops can attract eager individuals to explore emerging technologies.
You can also partner with universities for guest lectures or case study competitions, engaging students in real-world financial scenarios. This will help you identify potential talent early and build long-term relationships.
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6. Understand the Local Market Dynamics
Commitment to staying informed is a timeless principle that will never lose relevance. To effectively attract the top finance talent in KSA and UAE, you need to grasp the unique dynamics of the local market. This goes without saying, but staying informed about regulatory changes, market trends, and emerging technologies ensures your recruitment strategy fits the evolving landscape.
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7. Explore AI-Driven Recruitment Platforms
Over the years, recruitment technology has proven to be a game changer for HR professionals and employers. The finance industry is no different. AI-driven recruitment platforms enable organizations to streamline their talent acquisition process. Using its advanced algorithms and data analytics, organizations can access a global pool of finance talent, expanding their reach and increasing the chances of finding the perfect fit for their teams.
Iris by Qureos is a leading all-in-one AI recruitment platform that helps you connect and uncover exceptional candidates in just 24 seconds.
Explore the features of IRIS by Qureos for more details.
Attracting top finance talent in KSA and UAE requires a varied approach that blends conventional methods with innovation. By adapting and incorporating the above recruitment strategies, organizations can attract top finance talent in KSA and UAE, positioning themselves as industry leaders committed to innovation, employee well-being, and social responsibility.
Let Qureos be your driving force to help you discover a diverse talent pool of finance professionals from across the globe and source the right candidate for your company.
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