Commercial hiring presents a similar challenge. Some of the best candidates already work within successful PayTech firms, while others sit within banks or broader financial services businesses where they have developed highly transferable skills. Identifying them is only one part of the process. Persuading them that a move is genuinely worthwhile is often considerably harder.

That is why employee value proposition has become much more important than many firms appreciate. Experienced professionals are not simply evaluating salary. They want confidence in the leadership team, a believable growth story, sensible decision making and a role where they can make a meaningful contribution. Businesses that communicate those things well usually outperform firms offering slightly more money but less conviction.

The recruitment process itself has become another differentiator. Organisations that hire successfully are normally well prepared before they speak to the market. They know why the role exists, how success will be measured and who is responsible for making decisions. Candidates recognise that preparation very quickly, just as they notice when interview processes drift or different stakeholders describe the opportunity in different ways.

One response to a difficult hiring market is to brief several recruiters simultaneously in the hope of generating more candidates. The intention is understandable, although the outcome is often the opposite. Candidates receive multiple approaches about the same opportunity, messaging becomes inconsistent and recruiters are naturally less willing to invest heavily in research when they know several competitors are working on exactly the same assignment.

A focused process almost always produces better results. It allows proper market mapping, more considered approaches and better quality feedback from candidates. Just as importantly, it gives hiring firms a much clearer understanding of how they are viewed by the market, which is often as valuable as the shortlist itself.

PayTech continues to be one of the more attractive growth stories within UK financial services. As competition for experienced talent increases, recruitment is becoming less about advertising vacancies and more about preparation, access to the right people and the quality of the process. Those firms that approach hiring strategically are likely to build stronger teams than those relying on speed or volume alone.

At Fram Search, we spend much of our time advising firms on senior hiring across regulated financial services. While every sector has its own characteristics, successful recruitment tends to follow the same principles. Careful research, thoughtful candidate engagement and a well managed process consistently produce better outcomes than simply approaching more people.