Across the Fintech industry, digital transformation is causing people to change they way they do business on everything from sales and marketing to recruitment and talent acquisition. For Temenos, one of the leaders in the field of digital banking software solutions, things are no different. Though they’ve been a pioneer in Fintech software for more than 25 years, they’re not content to rest on their laurels—instead making every effort to leverage new technology and new strategies in their talent acquisition processes.
In pursuit of that goal, Temenos partnered with SmartDreamers to automate their online employer branding and recruitment marketing activities. So far, the results have been encouraging, with the company successfully reaching new candidate pools that they had previously struggled to connect with. Today, we’re hearing from Andreea Nicolescu, Employer Branding and HR Communication Manager at Temenos, about their biggest recruitment hurdles and the strategies they’ve used to overcome them.
(Note: The following has been adapted from a recent Recruiting Future podcast, which you can access here.)
Q: What is the biggest recruitment challenge Temenos faces right now?
A: Temenos has been a world leader in banking software development for the past 25 years, and right now we’re the fastest growing listed software company in the world. When I joined the team in 2016, we had about 4,000 people worldwide—today that number is 6,500 and growing (we’re currently acquiring Kony), representing an incredibly diverse team of people (more than 90 nationalities). This growth shows no signs of stopping, and our biggest hurdle from a talent acquisition perspective is to keep pace. Our company needs a new generation of digitally native workers to come onboard, so our growth is just as much a question of quality as quantity.
Unfortunately, people often don’t realize all of the opportunities that exist in the Fintech industry. They think we’re just looking for people with banking experience, when in reality we need marketers, UI experts, cloud developers, salespeople, and much more. To reach these people who wouldn’t ordinarily seek out jobs in our industry, we knew that we’d need a more bespoke talent attraction strategy. We had to actively go where people spend their time online, proactively working to become a regular part of our audience’s everyday online journeys.
Q: How have your recruitment strategies evolved as the company’s grown?
A: Well, we realized that nobody could tell our particular story as well as we could. So, we decided to move away from traditional recruitment agencies and instead create a global, in-house recruitment team that functioned in the same way, finding the right people for the right opportunities within our company. As a complement to that, we began to put a strong focus on employer branding—which is where my job comes in. Our goal is to hire the right candidates, not just the right number of candidates, and this means telling a compelling story about who we are and why our prospective applicants should consider us as employers.
Reaching this audience in an effective way required us to become much more efficient in our use of technology. For instance, we recently changed out our ATS in order to work with something that integrated more seamlessly into the rest of our software ecosystem, so that we could more easily take in, track, and analyze applications within the context of our broader talent management strategies. This helps us to hire faster and more efficiently.
Q: Right now, how do you go about reaching people where they spend their time?
A: It’s all a matter of finding the right channels for the right groups. For instance, if we’re looking for people with business solutions experience in Japan, we know that we need to produce content that’s actually in Japanese, and that most of our target users aren’t on Facebook or LinkedIn, meaning that we should avoid those channels. Instead, we go where they already spend their time and use targeted ads to direct them to our relevant landing pages.
By contrast, when we’re hiring roles for in Germany, we’ve found that our target users spend a lot of time on Amazon. To capitalize on this, we use Amazon advertisements to reach our potential candidates with our employer brand. Organic reach is obviously still important, but this kind of targeting is a key part of the equation. This way, wherever our target candidates are, we’re there as well.
Q: What have the results of these efforts been so far?
A: Before we employed this strategy, we found that we were struggling to reach out to new audiences. We felt like we were always fishing in the same pond, because we were effectively unable to break out of the market of obvious Fintech job seekers. By using SmartDreamers’ technology, we’ve successfully struck out into new territory, reaching new pools of passive job seekers who were previously not encountering our employer brand. This has had a huge impact, helping us to find relevant candidates much more quickly and engage them in a way that isn’t intrusive. We’re able to track our efforts and optimize them as we go, meaning that our ROI for Recruitment is higher than ever.
Q: How else does digital transformation play out with regards to talent management in your operation right now?
A: As a leader in digital banking, we feel like we need to “walk the talk,” so to speak. In other words, a company as technologically innovative as ours needs to be just as innovative elsewhere. That’s why we have a number of specially-tailored talent management programs, like our Temenos Sales Academy—which brings people from all over the world to Luxembourg for 6 months to learn about Front-Office, Functional, Technical Business Solutions, as well as Marketing. Another great example is the Temenos Business Solutions Boot Camp—which is designed to teach more experienced professionals the skills they need to level up their Fintech expertise and succeed within the organization.
Not only do these programs help us maximize our resources, they also help to promote diversity and inclusion. Our last Sales Academy session represented people from 19 nationalities speaking 17 different languages.
Over the years, Temenos has been a naturally diverse and inclusive employer, offering an open culture where everyone’s ideas matter. This has helped us improve our corporate gender ratio in recent years from 28% to 34% women, which is high above the industry average. There’s still work to be done, but we’re moving in a good direction, with dedicated programs and more women specific initiatives aimed at bridging the gender gap even further.
Q: What does the immediate future (18-24 months) hold for Temenos and its HR team?
A: In the next year or two we expect to be constantly recruiting. Most likely, 8 months from now we’ll be hiring for positions that don’t even exist today. There will also be plenty of internal promotion, which is why it’s so exciting to watch our Sales Academy alumni come up through the ranks. Each new generation produces important brand ambassadors for our company who help us change the way Temenos is perceived both within and outside the business.