Having recently raised €8m, opened a second office in London and almost doubled its workforce from last year, it is safe to say that Next Gate Tech is on a roll. Silicon Luxembourg spoke to Fanni Koncz, head of operations, and Rose Dorgan, talent acquisition specialist at Next Gate Tech, to learn more about the fintech’s approach to hiring and retaining talent.
Talent is the backbone of any successful business and in times when everyone speaks about the ‘talent crisis’ and ‘quiet quitting’, it’s a welcome surprise to hear Next Gate Tech’s head of operations Fanni Koncz talk about the fintech’s “incredible retention rate”.
Founded in 2019, the startup currently has 33 employees across its two offices – 29 in Luxembourg and 4 in London – which is almost double the number of 2022. While its platform, which provides a whole range of smart analytics and insights through data management for the financial industry, is certainly one reason for its success, its approach to hiring has been key too.
Controlling the hiring pipeline
In a small market like Luxembourg’s, it can be hard to attract talent during busy hiring periods. To avoid competing for talent during these periods, Next Gate Tech aims to keep an open hiring pipeline and stay in touch with viable candidates throughout the year.
“Our biggest priority is to proactively build and nurture our network with talented professionals, whether there’s an immediate role available or in the near future. The foundation of our culture is built on asking: what can we do to identify, attract, and effectively retain the talent that we need to drive enterprise value” explains Rose Dorgan, talent acquisition specialist at Next Gate Tech.
While staying in touch with viable candidates is part of this process, getting the messaging right has been just as important for Next Gate Tech.
“We try to make sure that our online messaging reflects our brand distinction and that it does not feel recycled,” says Rose, explaining that this has helped the company with regard to its applicant response rate.
For Next Gate Tech, building relationships and staying engaged with prospective talent has not only helped them control the hiring pipeline but has also allowed them to get to know the authentic character of their talent and see how they fit into the company.
“I think this authenticity has been really monumental in the growth that we’ve made,” says Rose.
Maintaining the company culture
While every company knows that a healthy culture is key to keeping employees engaged and satisfied, few actually succeed.
For Next Gate Tech’s head of operations, an important aspect of maintaining a healthy culture includes “continuously working on it and collecting feedback.” This includes monthly check-ins where employees can air their frustrations in one-on-ones with heads of departments.
Highlighting their employees’ achievements and talking to them about their goals and development has also been instrumental in keeping them satisfied.
“It’s important for employees to feel appreciated for the work they do and help them set and achieve their targets,” explains Fanni.
Maintaining a company culture starts before the hiring process. That’s why Next Gate Tech has an internal recruiter who is part of the culture and knows the ins and outs of the company.
“Rose really understands the needs for our roles better than any external recruiter ever could. This allows her to focus on the hiring process and get us the best possible fit with our needs and values,” says Fanni.
As Next Gate Tech forges ahead on its growth and expansion path, there is still much to be discovered. However, its commitment to investing in human relationships will certainly remain.
“With technology and business churning so quickly, it’s more important than ever to invest in building those deep, intuitive and genuine relationships,” says Rose.