An overview of digital talent in the financial industry

Fabiola Trujillo
30 de August de 2022 · 5 min de lectura

The most disruptive companies have hybrid teams of digital leaders who are constantly adapting and learning, allowing their businesses to remain relevant and competitive in a rapidly changing world.

Cristobal Contreras, Multiplica’s Chief Sales Officer for the OpenFinance audience, recently offered this and other information, as well as the findings of a study on the most often used digital profiles in the sector and their value contribution to business success.

The financial industry, being one of the most digitally mature, is also one of the industries that generates the greatest demand for digital talent, as more and more teams with different specialties are required to develop both channels and products that allow them to interact more efficiently with their customers.

Getting to know Digital Talent

The most notable feature for Multiplica is finding the best digital talent for companies, and therefore maintaining a close relationship with the digital ecosystem and conducting an annual global study among its community to know the talents in depth and have a clear picture of the digital profiles and employability demanded by the market.

“Given the competitiveness that exists in the industry, it is key to be able to attract and retain talent through attractive development plans and to understand the specific motivations that this type of profiles demand.” 

 

Competitiveness beyond borders

In the current context, in which talent is increasingly relevant for companies, investments in this area have increased, and geographical barriers have dissipated, allowing for the formation of more experienced and competitive work teams.

This generates a greater opportunity to form better multidisciplinary and multicultural teams, allowing companies to obtain two major advantages:

  • Sourcing the best talent abroad with the right qualities for the job, especially when that talent is scarce in the home country.
  • Generate both cultural and market experience enrichment within the same global team.

Main findings from the 2022 digital profiles study

Demographically, the study points out that most of the talent is located in Latin American countries such as Mexico and Colombia, and specifically talking about digital talent in the financial industry, we see that only 37% are women, which still represents a challenge in terms of talent attraction and parity.

Interestingly, although the majority of professionals are university graduates, around 40% choose to seek informal learning experiences to continue their education through blogs, online courses and other face-to-face specialized courses to further their skills.

Regarding the training fields for digital profiles, the study shows that while they primarily come from design and systems, the profiles are also spread across a variety of disciplines, which speaks to a degree of flexibility that has allowed other professions to transition into the digital space.

“The current employment context allows talent to be recruited based on skills rather than on degrees or the university where they studied.”

New structures, increased flexibility

It is a fact that organizational structures are changing and digital areas in the financial industry increasingly have a more significant headcount. As a result, many businesses are turning to solutions that give them more freedom to scale or de-escalate their teams in accordance with business needs.

The results show that the financial sector is more likely to hire senior profiles with more than five years of experience. Given that experience correlates with higher pay, this indicates the investment that businesses are willing to make to attract the most qualified and experienced talent given the level of industry competition.

Motivations and drivers when changing jobs

There are different drivers that digital talent takes into account to stay in a job, and although salary is still the main motivator, the difference is very little significant with respect to other aspects to consider such as: work-life balance and the possibility of better career opportunities.

Conclusions

To conclude, the expert emphasized the importance of the financial industry in attracting digital talent, owing to the growing demand for high-quality and increasingly experienced profiles; however, many challenges remain, including the gender wage gap, which grows as experience increases.

If you are interested in learning more about this study, you can request it by clicking on the following link.

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