Hiring niche skills within the financial services sector can be challenging due to a lack of understanding within businesses as to the skills they require and where to find them. With over 20 years’ experience in the financial technology sector, Peter Johnson talks to bobsguide about why he established in-sourcing and how their solutions are helping to take the ‘pain’ out of hiring niche skills.
Tell me a bit about yourself and your history in financial technology?
I started in banking technology recruitment in 1994 and have always been interested in niche markets which specialise in software systems such as Temenos T24, the banking software platform that powers core banking operations. In 2010 we realised that the market was changing fast, along with the way that clients buy – so we asked ourselves, how could we make life easier for clients to access niche skills? We spent three years developing the business idea before finally launching in May 2014. As part of the business development process we realised individual banking vendors look at banking in different ways e.g. when a bank changes their core banking system they change their terminology. We have taken this concept and implemented it into the way that in-sourcing supports various vendor solutions.
Tell us a bit more about in-sourcing?
in-sourcing is a global resource, planning and hiring portal which enables banks to access niche skills which are vertically aligned to the company and the software system that they have purchased. This takes the time and hassle out of looking for specialist skills using various recruitment portals that don’t provide you with the ability to find exactly what you are looking for.
When consultants register they complete a 7-step registration process which builds a detailed profile around their business knowledge, skills acquired and competencies. Everything a hiring manager needs to know is then presented as a unified consultant profile. Corporate members have the ability to search accurately for what they are looking for allowing them to conduct the necessary research, manage, track, monitor and connect with highly skilled consultants very quickly and very directly. All it takes is three clicks to find a consultant and seven clicks to request an interview, which saves a lot of time.
in-sourcing contains an integrated messaging system that has pre-defined actions such as: request an interview, make an offer, withdraw an offer and issue a contract etc. Corporate members can also create shortlists, favourites and adverts. Members can also filter and view applications using tools within the database to search by vendor, software, individual technical skills, languages the consultant speaks, job title, geographic location, pay rate, availability and more. The consultant can be added to a shortlist which can be reviewed later.
If the member wants to proceed further, consultants can be contacted directly or sent a message via our integrated messaging system. Members also have the ability to take the consultant all the way through from discovery, to interview, hiring and offer stage. If the member wishes to close the conversation, the consultant is notified accordingly and further contact restricted.
I had a burning desire to create this type of solution before someone else did. in-sourcing is not just another job portal, unlike other agencies that try to capture everything we are specialised and specific in our targeting.
How does in-sourcing provide a ‘painkiller’ for its target market?
When a bank changes their banking system it often requires a different technology and a different set of proprietary skills. The ability to find and access those skills isn’t always easy. in-sourcing helps to take the challenge out of this process, allowing companies to plan, pick-up resources and hire people three or four months before they complete current contracts.
What are the biggest problems that companies face when hiring specialist skills?
The problem that many companies face is that agencies sometimes don’t know where to access specialist skills and in some cases, don’t fully understand what they’re looking for. This area of recruitment has always been a challenge because not everyone involved in the process fully understands it.
What gap in the market does your service fill?
I believe that we provide a vastly improved way of sourcing and hiring niche skills effectively: essentially saving time and reducing cost. Everybody wants more for less in the market and we wanted to create a unique automated system that delivers exactly what the client wants for less money in as short a time frame as possible. Clients can connect with consultants by subscribing on a pay-as-you go or annual membership basis – catering to companies hiring occasionally or on a more regular frequency as the case may be.
What does in-sourcing offer bobsguide members?
in-sourcing has been created as a vendor-aligned solution. Our highly advanced system delivers real-time information enabling companies to rapidly and directly find, access and hire niche skills with accuracy whilst dramatically reducing hiring times and associated costs.