"People issues" are the second biggest reason, after no market for the product, as to why startups fail. FinTech startups are no different in this respect. Having reviewed 100s of the founders' reflections on why their startups failed, OKA-HR Ltd was able to create four people-related categories to ensure you can learn from their mistakes. We have tailored these people issues specifically for FinTech incorporating unique features of the sector.
Over the course of the next three weeks we will outline what each is, how they contributed to several FinTech startups’ failures, and how you might avoid their errors. For ease we’ve called these the C.T.R.L. Dimensions: Culture, Total Reward, Recruitment and Selection, and Leadership.
Leadership: By way of being a startup lots of FinTech firms attract many young people, but also need more experienced hired particularly for compliance and business partnership positions. It is important that all leaders, no matter how different, are motivated and support the firm’s vision and strategic direction. Moreover, many FinTech startups have new inexperienced managers or team leads which in itself often causes problems. How do you attract and retain good leaders to a startup? How do you select and develop new leaders so they don’t feel overwhelmed or pass on their bad habits? These are aspects you need to consider particularly as a FinTech startup.
CULTURE DIMENSION: https://www.eventbrite.com/e/hr-for-fintech-culture-tickets-29298141530
TOTAL REWARD AND RECRUITMENT: https://www.eventbrite.com/e/hr-for-fintech-reward-and-recruitment-tickets-29298192683