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Stepping into the spotlight: The progression of the treasury function

August 2, 2021

Organizations are starting to redefine the value of the treasury function, which has put experienced treasury talent in high demand.

We’ve seen a real increase in the market for experienced treasury talent in the last few months. There’s also more demand for technical treasury capabilities at the junior level. The war for talent is on for sure.

Like McLeland, we don’t foresee a slowdown in the demand for talent anytime soon. In part, that’s because there’s a growing number of emerging businesses that are ready to hire their first treasurer. Treasury functions can add great value for these companies, whether they’re growing because of private equity investment, SPACs going public, spinoffs, mergers or acquisitions.

Without a treasury function, businesses realize they risk leaving a considerable amount of money on the table. Take, for example, Wabtec, which acquired GE Transportation in 2019. In just the first year, the new treasury leader and team delivered enormous savings, creating a $15 billion market cap company.

In addition to demand rising from growth, there’s also a lot of churn in treasury roles right now. Although treasurers typically have a five-year tenure in the role, 27% of treasurers in publicly traded companies with $500 million to $5 billion in revenue have left in the last two years. The number of treasury leaders who have changed roles in 2021 already is double the number who changed roles during 2020.

It’s hard to identify treasury talent on your own

The rising profile and influence of the treasury function, and the consequently high demand for top treasury talent, means it’s more difficult than ever to recruit for treasury roles. As more organizations recognize the need to upgrade their treasury capabilities, talent will become even more scarce.

The Korn Ferry Financial Officer center of expertise can help you recruit high-caliber treasury talent. Our strategic search services and competency-based assessments have helped publicly traded Fortune 500s as well as emerging growth companies identify and recruit candidates who are the perfect fit for their organization and culture.

To learn more, read the full article, Treasury leaders moving into the spotlight. Then contact our treasury recruitment team to learn how we can help you identify the treasury talent you need.