Fintech Herald is an online publication that covers the latest news and trends in the rapidly evolving world of financial technology. From mobile payments and digital banking, Fintech Herald provides insightful analysis and expert commentary on the technologies and innovations that are transforming the financial industry.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Perfecting the fintech recruitment, retention and growth process with translation

by Jessica Weisman-Pitts
iStock 1132912633

Perfecting the fintech recruitment, retention and growth process with translation

By Alan White, Business Development Manager, The Translation People

Industries that scale quickly often find themselves in a fierce battle for global talent, as companies vie to get ahead of their competitors. Those that don’t put the right measures in place to attract and retain the most highly skilled people wherever they are in the world risk falling behind – as we’ve seen signs of in the UK’s fintech market.

In 2021, the Kalifa Report of UK FinTech warned that unless there was a ‘digital big bang’ in the UK’s financial sector, it simply couldn’t continue to compete at a global level. Since then, the government has introduced fast track visa systems for fintech scale ups to help bring highly skilled people to our shores. But with increasing levels of investment moving away from Britain in favour of overseas locations, fintech companies must start to take more action, or risk losing not only great people, but great clients.

One way to achieve this is to work with market-leading translation specialists to adapt recruitment, retention and growth strategies. By doing this, the UK’s fintech businesses can transform their employee branding to appeal to specialists all around the world. And thinking beyond recruitment, this approach can also help elevate their marketing and sales materials to attract the types of global clients that their team will want to work with. This, in turn, leads to a growing, more attractive business, which helps retain the very best people – achieving 360 degree success.

Understanding overseas employment culture

Key to getting this right is understanding how jobs markets and workplace settings vary across different countries. For example, some European territories and countries in the Far East have a much more formal culture when it comes to the office environment than in the UK. Those in America have a different expectation again. So, if you’re targeting talent in these areas, creating job adverts using the same references and rhetoric you would in the UK wouldn’t appeal to or be relevant for them.

Working with consultants within a translation organisation, fintech businesses can gain a greater understanding of what employers and professional recruiters in overseas territories are looking for, and therefore how to make the company more appealing than its competitors to attract job seekers.

Creating international recruitment messaging

These learnings can then be applied to recruitment materials using a transcreator. This is someone who translates creative content by considering any cultural differences between your overseas and domestic audiences. Transcreation is a highly creative service designed to help international businesses craft messaging that is culturally and factually relevant to overseas markets.

A transcreator will help perfect the nuances and delivery of the messages you want to share about the job roles on offer – the tone of voice you want to strike, how you want the audience to engage, the action you want them to take, and any local regulations you might need to adhere to. For example, in countries where male and female language is in place, there is often a legal requirement for how job adverts are set out, to eradicate gender bias.

Undertaking this process benefits your longer term growth ambitions because individuals will more readily work with you if you’re using messaging which better appeals to their personal nuances and needs.

Developing overseas talent campaigns

It’s essential to translate any content that’s in written form, including job adverts, blogs and social media posts, but you can also utilise translation services to optimise your multilingual websites from an SEO perspective.

Without good SEO your website might not even be found by the people you want in your team or by prospective clients. You can work with a translation company to analyse the specific search activity of potential job hunters or clients in your target areas, understanding exactly what it is they’re looking for when it comes to jobs in fintech, which is likely to include different search terms than those used in the UK.

To create an overseas recruitment campaign that appeals to all types of prospective employees, you can also apply messaging to video job adverts using translated subtitles and voiceovers. The virtual world plays a key role in the fintech market’s increasing globalisation, so the same type of technical prowess should be used to appeal to the people working within it.

Retaining staff through online e-learning and training

Research we undertook in 2022 revealed that 70% of businesses that trade overseas have expanded the areas they recruit from because of the pandemic and rise in remote working. While this presents a great opportunity, the retention and engagement of staff, ongoing training and the wellbeing of employees who might work thousands of miles away from HQ, is an ongoing challenge that needs to be perfected for UK fintech companies to remain competitive.

According to the research, 78% of businesses find it important to produce e-learning modules in employees’ home language to achieve staff morale and engagement, and 84% said they believe employee wellbeing is increased when staff have access to content in their own language. And while 66% said training and development is a challenge for their business due to language issues, many are finding ways to overcome it. For example, almost six out of ten (57%) said they now use multilingual voiceovers and subtitling for staff-facing content and meetings, and a further 16% will use it for the first time in 2023.

While offering digital materials to international teams shows you value professional development, translating them better demonstrates not only respect for their language and culture, but that you’re supporting them by making sure they are able to engage effectively with your training and development programmes. You could achieve your most successful recruitment campaign, but without considering retention, and the role training and development plays in it, the long-term benefits simply will not be realised.

Growing fintech businesses using translation

Following years of investment in technology-based workflows and solutions geared towards improving efficiencies and productivity, we’re supporting many fintech businesses to use intelligent machine translation technologies, automated transcription tools, website connectors, remote interpreting and more, to help them achieve global growth when it comes to building a portfolio of customers.

Clients we support in this sector can simply upload their content into our centralised translation management system, where our project managers and specialist fintech translators can complete the translation, offering a streamlined and secure way of working. Clients can even add software strings, including all coding, directly into the system, which is configured to understand and filter out only the translatable content. As and when they are uploaded, approved or amended by their teams, they trigger an automatic notification for our translators, who log in and complete the tasks, allowing the client to retrieve the translated content quickly and efficiently. Communication between all people viewing and amending the content is centralised, offering a streamlined workflow even with teams working remotely from one another.

We can also integrate our systems directly with a client’s web platform so that as pages are added to a site, or updated later down the line, we are automatically notified that there is new content in need of translation. The content is automatically pushed into our system and then pulled back into the CMS when translation is complete, meaning whole website translations can be an efficient process. Better yet, there is no requirement for additional formatting – the translation displays on the website as it should because the translation system has been configured to handle the client’s coding and tags in a specific way.

Both ways of working allow for glossaries and translation memories to be stored in a central location, ensuring version control and consistency across all platforms.

Quality translations of financial materials are integral to supporting financial institutions and start-ups – including banks, remote payment technology providers, currency exchange specialists and fund managers – to expand internationally – whether in terms of their teams or their revenues – making it a truly valuable service within the fintech arena. And as the global fintech market continues to expand at pace, the battle for talent and clients will become more intense. Fintech businesses in the UK that take action and begin to utilise translation now, will not only achieve a better outcome in terms of their own business, but will play a key role in putting the country back on the global map when it comes to the best territories to feel like a valued employee and customer.

Recent Post