How Returners can address the FinTech skills gaps and increase diversity
As the FinTech sector in Scotland is rapidly growing there is the need to consider a variety of talent pools in order to fill the skills gaps. Women Returners, the UK experts in enabling the return to work of highly-qualified professional women after an extended career break, has received Scottish Government funding to manage a cross-company returner programme within FinTech for employers in Scotland.
Hazel Little, Coaching and Programme Manager, Women Returners says “This is an excellent cost-effective opportunity for FinTech companies to address skills gaps and increase diversity with gender, age and experience. Returners are a relatively untapped talent pool that bring a wealth of professional experience, maturity and knowledge to the business.”
The Returners to Business Services Scotland Programme follows the success of the Returners to Financial Services Scotland Programme which was launched earlier this year in partnership with 12 leading financial companies including RBS, Standard life, Prudential, TSB and CYBG. All participating companies have reported that the programme has been a success for their business and over 75% of the returners have been offered ongoing roles, a testament to the high calibre of talent on the programme.
About the programme
The Returners to Business Services Scotland programme will enable Scottish employers to access and support 1-5 returning professionals in Edinburgh and/or Glasgow in a highly cost-effective way. Employers will be within business services including fintech, financial, legal and consultancy. The placement will run for 16 weeks, November 2018 to February 2019, and will be driven by employers’ recruitment needs.
Women Returners will provide employers with expert consultation, best practice guidance, promotional and manager support, including a returnship toolkit, programme advertising and line manager training. Returners will receive Career Returners Coaching Programme through four group workshops. The full cost of this is covered by the government funding.
Participating employers will provide CV worthy work (either a project or BAU role) and an internal buddy and mentor and will pay the returner salary at a professional level. There will be a good possibility of permanent employment at the end of the programme.
The business benefits
Employers will be able to tap into the wealth of returner talent in Scotland. The Returners to Financial Services Programme received over 450 applications with many employers hiring additional returners based on the high calibre of talent that they met with during the recruitment process.
Employers can increase diversity (age/gender/experience). This programme, which is aimed at professional women, enables employers to target business areas where they would like increased diversity. The previous programme filled several placements within IT, an area which is notoriously difficult to attract women.
Refill the female talent pipeline and improve the gender pay gap. Bringing experienced women back in at a level in line with their experience helps to build the female talent pipeline at professional levels and to address the gender pay gap.