Mike Richards explains how treasury teams can keep their talent through profiling, positioning, prospecting, and planning. The four-step approach helps you understand what skills you need, where to find people, and how to build a team that stays.
Foreign from the treasury recruitment company. Another video this week as a result of another session I delivered to a group of treasurers at the International Treasury Conference. We were talking about team planning with them. We boiled it down to what we call our four P's. There was profiling, positioning, prospecting and planning. And you'll see that in the article and we explain it and break it down a little bit more. The weird thing is I don't actually know why I keep doing these sessions and these videos because I was trying to do myself out of the job. I was trying to give them advice about how not to lose staff. Now let me explain a little bit more before I go completely broke or completely mad, whichever comes first. Profiling. Looking at your current team. What we were saying is look at your current team and see what you've already got there. What skills are you missing and what training can you give to fill in those blanks? And looking at the perfect member of your team, what does your ideal look like and how can you help those guys get to that ideal? How can you sort of mentor them, train them and stuff like that? So with that, it was a simple identification exercise to make sure you're fit for purpose. If you like the next P positioning, this is when you start to look. If you are going to have to look out externally, where are you going to look? Have you already before you do your external search, maybe you do an internal search and you decide what is your sell? Why would someone want to come and work in Treasury? What's it going to do for their career? Do you have an employer brand? If you like, why would they want to join and then stay in your team? What do the current members of your team do and can you coach them? All of those ideas were really good about the positioning. One of the people that was actually at that session was a lady called Severin Leblevinek, one of our podcast guests and an amazing treasurer of Honeywell. Now she actually goes out on regular basis and works with the local degree program and helps train junior treasury people. And she's found it's a great way of introducing people to the profession. Keeps me out of. Well, stops me placing people with a damn anyway, prospecting. What other internal resources are there? Could you use your HR team? Do they actually know what treasury is? Have you coached them enough? And what other ways of finding people in the past have been successful? Look at that. So you've got all those and the final one was planning, succession planning before you actually think about recruiting or you get to that stage. Have you planned for your success? Maybe you could train up someone internally, give them a year's worth of training to become the Treasury Manager, retaining that talent, identifying gaps. Have a read through the article. I think it'll give you a lot more information. Hope that's helpful today. Thanks for your time and look forward to the next one. Many thanks.
