Hays and FinTech Scotland partner to address demand for tech talent
Recruiting expert Hays has formed a strategic partnership with FinTech Scotland, the cluster management organisation which enables collaborative innovation in the financial services sector.
The move is aimed at ensuring a healthy pipeline of tech talent as new research shows that nine of the top 20 salary increases in Scotland for 2021 are related to the fintech (â€˜financial technologyâ€™) sector, highlighting an increased demand for such roles. With Haysâ€™ global network, the partnership will also play a vital role in helping Scottish fintechs expand abroad.
The research, according to the Hays Salary & Recruiting Trends Guide 2022, shows that security architects saw a salary increase in 2021 of 17.3%, the highest increase within Scotlandâ€™s top twenty, whilst DevOps (IT development and operations) roles saw an above average increase of 10%.
To address the demand for niche talent in fintech, Haysâ€™ specialist division, Hays Technology, will support the Scottish fintech cluster in recruiting for skills in fields such as cyber security, mobile banking, cloud applications, AI and blockchain solutions.
Justin Black, director of Hays Technology in Scotland, said:
â€œClearly, the high demand for tech roles that weâ€™ve seen in recent years continues and salaries are increasingly rising as a result. This is great news for Scotland which is the largest fintech hub after London. But we need to make sure that the talent pipeline is sufficiently healthy to fulfil the demand going forward.
â€œThrough our recruitment knowledge, best practice and global network, we will be able to inform FinTech Scotlandâ€™s strategy, ensuring that the demand for fintech skills is met, and maintained, with a healthy talent stream.â€
Nicola Anderson, chief executive of FinTech Scotland, commented:
â€œSince we launched FinTech Scotland in 2018, weâ€™ve been working closely with Skills Development Scotland, Scottish universities, businesses and government agencies to ensure that skills providers are meeting the needs of tomorrowâ€™s financial community.
â€œHaving access to Haysâ€™ extensive knowledge and data research on how best to attract the required skills makes them an ideal partner to help us fulfil our objectives, whether itâ€™s for start-ups, scale-ups or established organisations.â€
The research from Hays also shows that nearly two-thirds of employers in Scotland have increased salaries this year, with 71% planning to do so again over the next 12 months.
Other roles within the top 20 salary increases are in engineering, marketing and procurement which are also skills sought after by innovative fintech firms. Overall, salaries across Scotland increased by 2.6% in 2021.