Talent Management, COVID, and the Finance Sector: How HR Can Respond

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The COVID-19 pandemic has proved to be an inflection point for many industries and the people who are building careers in those industries.

As has been the case for IT talent and the insurance industry, the consequences of a drawn-out pandemic are affecting how finance and fintech companies recruit, hire, and manage talent.

Some of the reasons for this are obvious. With remote work arrangements and touchless grocery deliveries becoming commonplace in many people’s lives, financial technologies have had to evolve to build out virtual payment infrastructures. 

At the same time, the pandemic brought the U.S. economy to a near halt in the spring of 2020, which prompted employers across most industries to pause hiring.

CNBC reporter J.R. Reed wrote about this in April 2020. While payments giants like PayPal increased their Q2 hiring, “hiring at some of the most highly valued financial tech startups like SoFi and Stripe [was] down double digits since the start of the year.”

Meanwhile, Nina Trentmann at the Wall Street Journal reported in early April that companies were struggling to hire chief financial officers in the immediate wake of the pandemic. “Boards are asking CFOs planning to retire to stay,” Trentmann reported. “Some

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