No two treasury teams are exactly alike. In the same vein, no two resumés are exactly alike. In a job, much is defined by the legacy of those before you and the remit, expertise and prerogative of those around you. As a recruiter, there are rarely instances of love at first sight. Meeting candidates from wide-ranging educational and professional backgrounds will encourage others to offer interest in taking up new positions. The corporate treasury mould is no longer a rigid benchmark.
First of all, it is important to dismiss a previoysly long-held belief that big FTSE 100 dream teams always attract the best people. There are few secrets in the world of corporate treasury and even fewer places to hide them. Of course, all I mean to say is that the reputation of the treasury team can feature heavily in attracting quality people.
Furthermore, I frequently hear from candidates who have been wholly unimpressed by the recruitment process put in motion by companies topping the FTSE 100 index. Bad press travels fast. To give yourself and your team the best chance of attracting impressive candidates, foster a positive environment and running a slick recruitment process.
Happily Ever After?
The ‘job for life’ mentality is long gone and there is widespread, conscious recognition that the best treasury professionals have a varied corporate background. Very often the decisive factor in looking for new employment is closely linked to a lack of breadth in the current position. Up-and-coming professionals fear becoming ‘institutionalised’. The human race is yet to find a lasting solution.
Retaining good people will always be a challenge. As a head-hunter, I often say that the “best” people aren’t active in the market because they are looked after by their employers. We are not automatons and the most effective way to keep staff is for employers to make people feel wanted.
In the real world, the market offers a wealth of opportunities for ambitious individuals with the credentials to match. As a consequence, good teams should take comfort from the fact that there will continue to be strong candidates open to new ideas.
Plenty More Fish in the Sea
What is the secret to sourcing top treasury talent? There isn’t one thing, but a couple of steps that you can take to help ensure you give yourself the best chances of a successful hire are to:
- Plan the process carefully before coming to market.
- Run a slick recruitment process.
- Give some thought to aspects of the role that are typically absent from most job descriptions: How long do you expect somebody to be in this post? How likely are internal promotion opportunities? What sort of person are you looking for in terms of personality fit?
These things, done well, will go some way to relieve the hiring headache and to ensuring you get the best person.