Treasury Recruitment Company Update, May 2023

Foreign welcome to this month's monthly update podcast with me, Mike Richards, the host of the Treasury Career Corner. I'm going to talk to you about a few things. The podcast that we released this month, podcasts that are going to be released this month, conferences, webinars up in the coming and then we're going to do quick market update. We can do the triangle of treasury recruitment. Now, what is that? That's about what's the state of the market? The top three questions we get asked. Mike, what's the market doing in the us, UK and Europe? Please tell us. What should my resume CV look like? We'll tell you about that. And what are salaries doing? Oh, we'll tell you about that. There you go, that's an easy one. Let's go on with the show. So who do we have on the show for this past month? He had the amazing Royston Dosta. Caught up with Royston. Nice update show. Got a few of those coming up. But it was lovely chatting to him about all things IT and tech, which is great because he loves utilizing that to make your jobs as treasury professionals more enjoyable. So great show to listen to. Then John Furter, treasurer at Poly out on the west coast of the us, talking to him a lot. He's quite provocative with some of his views, but I really like Jean, he's a really great guy. Mark V. Keel, who's more moved more into interim treasury management. Good conversation with him and having a catch up. And then we had Francisco de Barros from Ingersoll Rand. Great to catch up with Francisco. Doing lots of great stuff. They've evolved a lot throughout lockdown. And then coming up for this month we have a return chat with Tanya Kuznetsova. Yes, I got it from Baptist Health Healthcare. Tanya also does a lot of stuff with the NCTMA North Carolina Treasury Management Association. We've done lots of stuff with those. Then you get the feature episode that's with myself, Katie and with Craig. This came from a virtual session we were giving about how to retain your team, your treasury team in this new age of hybrid working. New world, new world, new ways of working. And then we move on to our special feature episode that features myself, Mike Richards, with the lovely Katie Hardy and then Craig Perkins. So connect to any of us on LinkedIn. We were talking about retaining your treasury team in this new age of hybrid working. We were chatting about all the different things and things it's been throwing up and in actual fact, I've just done a catch up with Dan Ferguson. Used to be at RSA Insurance now with Resolution Life, we've just had a good catch up about his new role. We talked about hybrid working in there and how they practically work it and we were giving lots of tips. There were some worksheets for you. There's some advice sheets in there as well. So look in the show notes there. That's going to definitely help you if you're. You're managing a mentoring teams that are either in the office, 100% out of the office, working remotely, blended teams in the middle. So that's going to help you. Now we are trying to get a number of people onto the podcast and we struggle sometimes. I know you guys are busy, but we could do with some more guests. Just had a big invite out to a lot of our European and UK potential guests who would love to have on the show just talk about their careers and everything else. But also if you have someone that you think, do you know what, I love the show, what Mike does and all the team put together for free. But could you maybe suggest some people? You just click on there and it says suggest someone or put your name down or if you're interested, I would love to chat to you, just talk to you about your treasury career. I know we're going to do a number of conferences and I'll be asking some of the people that I meet there to be guests. So one of the up and coming conferences I've got is at Windy City in Chicago. Going to be talking on the first morning of the conference later on in May about the importance of branding and networking to achieve success in your treasury career. Yeah, it's going to be great to meet lots of you guys there. I can't wait for it. Finally back in Chicago after a bit of a hiatus given Covid and everything else. Then following that up with Wednesday 10th of May, we're going to be having a repeat of. Actually it's the other way around. Usually. Usually you do a virtual and then a real. We did a real session at the AFP conference in Philadelphia and it turned out to be very highly rated. I say highly rated. It was the top show. Yeah, the top show in town because this crazy English guy I've had something to do with my amazing guest Leanne Perkins from Specialized Bikes and Joel Campbell from Trevipay. Great guests. Met them, talked to them front of an amazing audience for over an hour in Philadelphia at the A conference there. But then what happened was they came back said, yeah, you got amazing ratings, obviously. Yeah, we had some good fun there. But actually we can do an a webinar about achieving career success through effective networking and a strong personal brand. Talk to Leanne and about Joel, about their experiences as treasury practitioners. So not just me waffling on, but actually two amazing guests. But actually we did it in reality in person in Philadelphia. And they said, look, could you do it with all our members, please? And when we last looked, two or three weeks ago, we did a rehearsal. We already had 350 of you guys registered, so it's free. We'll put a link to the Treasury Roadshow so you can connect to that. Then what we got next. So AFP webinar and then shortly after the summer, we'll be in New York or the T Money annual cash exchange. Confirmed as a speaker there with Steve Rosenthal from Broadridge, Modesty Johnson from Streamland. Pete will touch the ground for a week or so and then straight off to Barcelona for the Euro Finance Conference in September. And then that's it. Put feet over the rest of the year. Off to AFP in San Diego. Confirmed as a speaker there. Looking forward to that session. Busy end of the year, but this is what we like to do, so let's move on. The golden triangle of treasury recruitment, as it were. You guys ask, what's the market? Resumes, what should I be doing? Salaries. So US Market, let's kick off with that. It is busy. There are jobs spread right across the market. It's obviously like that typical pyramid. Actually there are more jobs at the operational level. Analyst, senior treasury analyst, treasury manager. Then there are some senior roles coming through. It's a little bit stickier at that end of the market. What I am noticing is people have been quite specific about what they want. Treasury analyst roles. Again, some good responses with recruiting roles in New York. I've got a couple of things in Philadelphia, actually, so if you're looking for new positions there, let us know. Send us your resume. Treasury manager roles, little bit stickier in that market because people are being a bit more specific about what they want, which is fine. Salaries, we're not going to go deep dive that. But this is the US Salaries, they are rising rapidly still within the us but they're keeping pace with inflation, I would say. But the point is they're keeping pace. They're not overtaking inflation. So I am seeing salaries rising, but they're not rising above inflation. So what's meaning is, yes, you're getting another 10, $15,000 in your pay packet, but your costs to live are 10 to $15,000 more. So it's Just like for like if you like. So it's a parity. We'll come back on salaries in a moment. So I'd like to tell you about that. European markets slow start the beginning of quarter one, but now it started, I think there was people getting bonuses and everything else. Now those have been awarded, there's more positivity. So they were hiring again, junior levels treasury analysts recruiting in. Katie I know is doing some work in Belgium. So if you're looking for a role treasury analyst or through to treasury manager, she's got some really good roles there. The Nordics very busy there. Actually the Nordics have really sprung to life. Luxembourg and throughout Germany, very big region and we're very busy there. So you're any of those regions or happy to work in those. Send us your cv, please. We currently have available positions for all of those, but particularly for treasury analysts and senior treasury analysts, some treasury manager roles, but it's more at the more junior level. So let us know. We're open to supporting other clients. So if you are looking, we've got a good roster of candidates looking. These guys can help us. Yeah, reach out. So just drop us a quick email to myself, mike@treasuryrecruitment.com or katie@treasuryrecruitment.Com okay, and then to go back to our home market, if you like, with the lovely Craig Perkins. So ask Craig some of the top questions he's being asked. And he said, so the top one he's been asked, how soon is too soon to be looking for your next career move? I said, what do you mean by this? And he said, well, people are saying, I've been in my role six months, nine months, a year. Is it time to move? And as he said, it depends. It depends. Have you actually hit all the challenges you wanted? Because what we've seen post Covid is that some candidates have taken a role and then it's either not stood up the test of time or they've gone in and they've done conquered the challenges. So it is time for a next move. So that's one of the things we see. He's quizzing people, he's talking to candidates. Each and every day he and Sophie are chatting away. Now they're asking, do you need to move? That's the thing. Sometimes you talk about the internal motivators for people. Is it just that they're frustrated? Maybe? What's your motive? What is the driver for you wanting to make a change now if it is that used to be. I used to have the catchphrase, a year to learn a role, year to do a role, year to get bored on a roll. So two and a half years, people will be making a move sort of thing. That has really changed, I think. I've seen there's been a lot more solidity in the UK market, but there's also been a lot more flexibility on the same two things. Yeah, I've seen some people now more willing to make a move under a year. If the role's not working out or everything else, or up to 18 months, we're going to move over my feet and. Or I've seen more people staying post three years. They're getting internal promotions throughout Covid. I never saw so many promotions on LinkedIn. It was like, oh, they've been promoted Senior analyst. Oh, they've been promoted. Treasury manager. Oh, they've been promoted. Assistant treasurer. It was a lot of the time. I think that was driven by the fact that the market was difficult to get people. And if you knew you had a known quantity, why look externally when you can stay internal and how soon? Coming back to this question, another point he made was, some of those candidates do feel they're having to look externally because there's a lack of internal progression. So maybe if you are sitting there listening now and you are a client and you're thinking, oh, mate, what can I do to motivate my team? What gaps can I create for them in my team? Where can I look to promote them? If I'm going to do that, am I also paying them the fair market rate based on their qualifications and their experience? Oh, my goodness. If only there were a way to benchmark their salary. If only. I went to treasurysalary.com and I took part as a treasurer and then I was immediately sent an amazing benchmark from Q1 of 2023. And I knew that. Hang on. By taking part, I'll be part of the Q2 Treasury Salary Survey that Mike and the team at the treasury recruitment company are going to produce in the next few weeks. Oh, yes, that's what we're doing. So take part wherever you are, whether you're UK, Europe or the US, take part. It's confidential. Treasurysalary.com take part. You will join over 1100, 1100 plus people. I think we're running about 1, 150. We've retired a few people because we're up at 1200, but some of the people have said actually no, or they're not updated their information. That's fine, we don't respect that. If you're too busy, that's fine. You're not part of the survey. Our survey is up to date all the time. It's a living, breathing thing. Yeah, let's do the survey bit, actually. Let's talk about that. It's great. I love the survey. It came out of a love I have her accuracy and having proper market data for my clients. I was with a previous employer, they said, oh, can you just benchmark this for our salary survey? And they still do it now. It's absolutely ridiculous. I'd like them to be sued for falsifying information. But basically, say treasury analysts, we. Someone says, what is the average salary for a Treasury analyst in London? We know and we've actually, in some of our things, people said, what's the difference between a Treasury analyst in London versus the Home Counties versus the middle of England? Now? It's less, I would say, because of hybrid working. Everything else, it's less regional. Yeah. It might be more expensive to live in the big cities in, say, London or things like that, but actually there's less of a gap between that and the middle of the UK or same in the us, differently. If you're based in New York, your salary will be that much higher than it will be in Texas, where a lot of companies are moving to Illinois. It's on a par, but it's not as expensive as New York. I know this because we were out there for the Philadelphia conference last year. Wow. It was expensive, guys. Okay, so let's come back to some of those. So that's the salary survey done, really. So take part. Treasurysalary.com UK market. Let's finish off on there. I'm looking for wider. I'm pigeonholed within my current role, looking for wider treasury exposure. Will my current remit affect my chances of securing a role in the future? Yes, it will. Yeah. If you are too specific with your emphasis, then, yeah, it could limit your chances. Because if you're going for a next role, people say, which areas have you covered in cash management or foreign exchange, or have you just done this? You need to take an active role in that and say to your boss, I want to get involved in other areas and say, if you don't involve me, I'm going to look for a new job. Do it gently and. Or ask us if you need some help. Pick up the phone, call Craig and he understands what clients want and what they're open to. So you can understand the time to provide coaching and say, look, you probably need to think about this. You could do this with a generous recruiter. You call them and they go, what's Treasury T R E? They've come to us, that's all we do. That's why we do it, because it's what we enjoy doing, really. Then I was asked, he was actually asked by one of his clients, I want to retain my younger team, I want to develop them and everything else. How do I do that? Now, the first thing we identified this was a conversation both he and I had was why had they lost people in the past? And the point was, because they hadn't thought about it. Now I think actually recognizing the problem, certainly at the start of the battle now they were starting to say, how do I mentor and keep these young people? Not they come in as treasure assistant stroke analyst. And then how do I keep them and mentor them and grow them? Because they will come a natural point sometimes where they need to move on. But the fact is, if you don't need to, one of the key things would be study support. It ties in them for the future. But if you are looking for a move and someone says, oh, I'm tied in because they are paying for my AIM ct, don't worry, you can make a move anywhere. Your new employer, as long as you've got the receipts, will pay for it. And sometimes they have a claw back and say, oh, that's it, I've got to be here for at least an extra year. Don't, because the new employer will pay it, they've got it and it's related to your professional study, whether that's accountancy or Treasury. So it might be ctp, might be ACT qualifications, you can make the move, but the fact is you can't guarantee the retention. What you can do is if you do a better job as a boss and provide a more supportive environment and have the open conversations, then you stand a better chance, I would say, and maybe keeping someone looking at what you can do, trying to. I did this back in lockdown. We were talking to someone, they said, how do I keep my team? I said, the best thing to do is ask them. They said, oh, really? And I said, if you look at are reasons why people are leaving in our salary survey, it wasn't actually salary, it was about flexible working, it was about study, it was about opportunity. And we've got that if you take part in the salary survey. And they said, what do I do? So go and sit down with your employee. One of the key things, I think the second on the list was about being a good boss and Be a good boss by saying, how can I help you? Okay, be a better boss. How can I be better? What can I do to mentor you? Okay, you talk through that or you can offer study support or you could do this. Oh, wow, that's amazing, isn't it? So that's that one. So that's the markets wrapped up. Sorry, it's going on a bit longer actually. I didn't realize. Resume CVs. If you need advice, let us know. We've got templates. We'll put a link to our treasury library in the show notes. The key thing I would say I was talking to an audience, the AFP of Northwestern New York the past couple of days up in Buffalo. Great session, really enjoyed it. One of the audience member asked me, said, look, is my LinkedIn profile my resume? No, they're spelled differently, but joking aside, they are different. Your LinkedIn profile should be your highlights. If you like your highlights reel, we've got a top 10 tips checklist for you which we'll put again in the show notes, if you would. The lovely Carter will add that in there. Your resume is more of a chronological description of your career so far. Now it doesn't need to be War and Peace. We've already written that. We've seen that. That was quite a long. So it could be a couple of pages about how you've made each of the moves and some. It can still be the highlights reel though, how you've made a difference. So how have you implemented a Treasury management system? How have you done this? How have you improved? What have you done to move treasury, forward, streamline this process, save this money. If you just turn up and done your job, don't put that on your resume. Doesn't help. What you should be doing is providing hook points. So if you're going for a new role, the new employer will be looking for hook points. They'll be looking at through there saying, oh, our major problem at the moment is catch management for us, or our treasury management system doesn't exist. We're still on Excel, we'd like to implement one and look at that, look at new technology. We're expanding globally. We need someone that's managed a team globally. Now put that on your resume. If it's something you've done, of course, put it on there and become they as you're applying for a role. You can actually see on most of these job descriptions, these adverts, a lot of them are pretty poor. But on LinkedIn, if you look through and you can see their pain points. So address their pain, become their paracetamol. I highlighted that again. I've got an article about that. Think about what are their problems now and actually address those. So don't have to rewrite all of your resume, but maybe in your top personal statement. I hate personal statements. When they're factualists and just say, I'm a passionate specialist treasury person. Really? Everyone is. Yeah. Get over it. If instead you're saying, I'm a Treasury specialist who has implemented this solution and this new treasury management system that saved our team this amount of time, I did this on a global scale and I then mentored a team on three different continents. And the job you're applying for, they go, wow, that's exactly what we need. What a surprise. You get an interview, then when you do the interview again, I've got interview advice. Go to the website, then that's what helps you. Okay, so we've done the market, we're done be the paracetamol salaries done. That enough? Treasurysalary.com please take part. If you want to be on the podcast, I'd love you to join me. We'll have a nice, relaxed conversation. As one of my clients put it the other day, it's like having a chat with Mike in the pub. Except for the beer. Yeah, we're not having a beer. I'll have a coffee, have a cup of tea. I don't mind. Thanks, everyone. Look forward to seeing you all soon at one of the conferences. Very soon. Cheers, Sam.