Hiring Tips from FinTech Startup Wave

If you run a small business you might be familiar with Wave, a financial services software company that helps business owners and freelancers handle the money side of their business. When you’re just starting out and there’s no payroll and accounting department, someone needs to send the invoices and pay the bills.

Wave, founded in 2010, is free, cloud-based accounting software, helping small businesses focus on their business and not the finances.  It has since grown into a FinTech company with financial services as well as a suite of financial management software. Based in Toronto, Wave now has a team of 165 people and is continuing to grow. What does it take to work at this startup? We got some insight from Ashira Gobrin, Wave’s SVP of People & Culture.

How difficult is it for you to attract top tech talent?

Let's put it this way:  the people we describe as "top talent" are not necessarily out looking for new jobs so that means we have to be excellent at sharing who we are and the great things we're working on in a way that interests the caliber of people with the skills we need. We have to stand out from the crowd for the things that make us unique. We work hard with our marketing and communications teams to ensure our purpose and values resonate with our messaging, and my entire People & Culture team collaborates closely to ensure an authentic and consistent candidate experience through the process.

How do you work to retain the tech talent you have?

This is a high priority for us because we work so hard to find the right people and it takes a lot of effort to onboard and transfer domain knowledge - we want people to stay and invest their time and energy for the long haul. We make serious investments in training and development of every Waver both on the technical skills and in personal and leadership development. We take pride in the number of promotions we are able to make for our best talent and our ability to transfer employees into roles that take them further on their career path. Everyone is constantly learning, so I believe our employees know that they are getting as much as they are investing.

What’s your interview process like?

Intense! We are cognizant of the fact that in most cases this is a two-way interview: we are assessing a candidate and they are assessing us. We try hard to replicate what it's like to work at Wave and we do this in a block of 4 hours so the candidate does not have to make multiple visits to our office. We test for technical skills, thinking and problem solving, collaboration and team work and alignment with our values. The candidate gets to meet about 8 Wavers, and we turn a decision around in 24-48 hours after the interview.

What specific skills do candidates need to have/know to work for you?

Each role requires something a bit different. We look for people who are really good at what they do, have strong values that align with us, and have an ambition to learn fast and do something great - and then it’s quite simple to train the rest.

What areas of the company are growing fastest right now?

We are growing everywhere - but we are doing this thoughtfully and carefully. We are working hard to ensure we are constantly optimizing every team and maximizing the effectiveness of the way we work. As we add new products or build the capacity to do more somewhere - we add to the teams. We are hiring for software engineers, product managers and designers, support heroes, risk analysts, data analysts, finance roles and more.

Any tips on what NOT to do on a resume?

No “alternative facts” - we can verify everything. Don't use more words than you need to, and focus on outcomes, not activities: What change did you drive? What were the results? What were the problems you solved? Those are things that make us really interested in you.

Sloppy resumes with spelling mistakes, very repetitive wording, a story that is not well articulated… obviously are not helpful. We’ve even had people send us resumes that have no contact info!

The one thing I find most difficult when reading a resume - and so many people do this one - is be vague about the role you are seeking or the area of business you want to focus on.

What are some surefire ways to nail your cover letter?

Make it personal! Ensure you are addressing the right person - or at the very least, the right company. You cannot imagine how many times we get a cover letter written for a different company. Find a way to tell us something personal about you that makes us want to get to know you - and helps us to understand why you stand out from the crowd. What is not on your resume that we really should know about you - something that connects to the position you are applying for, your passion and your interest. Also let us know why you are so interested in working for us specifically - do your homework, show us you’re already invested. That’s likely going to get a response.

Anything else you'd like to add? 

The problems we are trying to solve are HARD! Working for a startup is often sold as fun and full of perks, but the reality is that it also comes with a lot of sacrifice. We do try to make sure that every employee is looked after, cared for and invested in. I believe we do that very well. But the hours are long, the expectations are high and we do work very hard to be successful. I encourage anyone who wants to push their boundaries beyond what they thought they could do to join a startup. It’s the Olympic equivalent of a professional career. Its hard work, but the experience is priceless.