Treasury Talent U.S. Hiring & Recruiting Recap – 4th Quarter 2020

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A Quick Note From Simon Lynch:


 

We’ve hit the end of 2020, and to say this has been a challenging year for everyone is an understatement. As the calendar turns to 2021, we proudly look back on the accomplishments from 2020.

To the treasury community, we thank you for your support during our first full year in business. We’ve truly enjoyed getting to know you better, and we wish you & your loved ones a safe, healthy & happy holiday season. We look forward to a bigger and better 2021!

 


Treasury Talent Career Essentials


 

Listen Here! The Treasury Talent Podcast aims to share the wealth of knowledge within the Treasury and Finance community and inspire diversity of thought. Here are our recommendations for the 4th quarter:

  • Rakesh Kocchar (Global Treasurer, Nissan Motors): Rakesh chats with Simon about the challenges in a global treasury operation, his transition from the C-level into the Treasurer’s seat, and how to be a global citizen!
  • How Treasury Can Show Its ROI: Frank Melaccio (Vice President & Treasurer, Horizon Blue Cross Blue Shield of New Jersey) joined the Treasury Talent team to discuss the importance of networking & relationships and how practitioners can partner with their business leaders to show the ROI a good treasury team can bring to the organization.
  • Interviewing Tips for Treasury Practitioners: The Treasury Talent team discusses how you can prepare for an interview to increase your chances of landing your next job.
  • How to Be a Strategic Partner to Your Business: Rayan Rafay (COO/CFO, Fraction) chats with the Treasury Talent team about building a mindset for success in a business partnership, training/mentoring people to be more successful in business partnerships!

 


4th Quarter Hiring Trends


4th Quarter Jobs Data in The U.S.

3rd quarter jobs data showed a pretty large jump in the U.S. but did the trend continue through the end of the year? Let’s dive deeper:

  • October:  38.9% above benchmark* (43.9% of jobs new/not previously advertised)
  • November:  48.6% above benchmark* (43.1% of jobs new/not previously advertised)
  • December:  68.2% above benchmark* (38.8% of jobs new/not previously advertised)
  • 4th Quarter Average:  51.9% above benchmark* (41.8% of jobs new/not previously advertised)
Position Breakdown

Here’s how advertised positions were broken down over the course of the 4th quarter:

  • Treasury Accountant:  3.2% of jobs (39.1% of jobs new/not previously advertised)
  • Treasury Analyst:  46.0% of jobs (35.4% of jobs new/not previously advertised)
  • Treasury Manager:  19.6% of jobs (42.0% of jobs new/not previously advertised)
  • Treasury Director:  9.6% of jobs (38.6% of jobs new/not previously advertised)
  • Assistant Treasurer:  2.7% of jobs (50.0% of jobs new/not previously advertised)
  • Treasurer:  4.5% of jobs (42.4% of jobs new/not previously advertised)
  • Consultants:  3.8% of jobs (39.3% of jobs new/not previously advertised)
  • Financial Services/non-traditional Treasury title:  3.0% of jobs (68.2% of jobs new/not previously advertised)
  • SAP:  0.7% of jobs (20.0% of jobs new/not previously advertised)
  • Implementation & Technology:  6.8% of jobs (34.0% of jobs new/not previously advertised)
Busiest Markets:

A brief overview of the top 3 markets that had the most hiring activity/Treasury needs over the 4th quarter:

  • California:  11.7% of total jobs advertised (42.7% of jobs new/not previously advertised)
  • Texas:  7.2% of total jobs (43.0% of jobs new/not previously advertised)
  • Illinois:  6.3% of total jobs (38.7% of jobs new/new previously advertised)

 


 So, What Does It All Mean? Quick-Hitters:


 

Here is what we see in the data:

  • Hiring at Analyst & Manager levels remains competitive. As the entry points into the profession, they make up 65.6% of advertised jobs (59.7% of these are re-advertised). If you have a need at these levels, be prepared to compete because your target market has options.
  • Hiring at Senior-levels (Director + above) remains competitive for job seekers. These jobs make up 16.8% of advertised jobs in the 4th quarter and these jobs are staying open longer (55.7% of the roles advertised at these levels were previously advertised). Companies have more options to choose from at these levels, but they seem to be taking their time with making decisions.
  • Analysis: While the 4th quarter’s numbers are above the benchmark, we saw a considerable shift in the mix of jobs advertised. New jobs only accounted for 41.8% of the jobs advertised. Treasury jobs typically have a longer time-to-fill because of specialized skill sets and inefficient hiring processes, and we are curious to see how the 3rd and 4th quarters’ upswing impacts hiring heading into the 1st and 2nd quarters of 2021. For most companies, the new year means new budgets and new headcount. If we continue to see a large number of jobs going unfilled combined with the traditional 1st quarter spike, hiring in the treasury space could become even more competitive as the year progresses.

 


You’re Invited…To Join Us Live!


 

In 2020, the Treasury Talent team launched weekly Facebook Live and LinkedIn Live chats. It’s our initiative to bring you real-time interviews with practitioners and to answer questions about your job search, interviewing, resumes, and any other topic related to your career. If you’d like to be a part of these conversations, please reach out to Joe Grabowski: joe@treasurytalent.com.


 

What: Ask A Treasury Recruiter!

Format: This is an AMA/Ask-Me-Anything format that is hosted weekly by Joe Grabowski and Scotty John. The purpose of these conversations is to discuss topics that are relevant to your job search and career, and to answer questions from the community in real-time!

When: Mondays at 12:00 PM Eastern | 9:00 AM Pacific

Where: You must be following and/or connected to Scotty John on LinkedIn to participate! Otherwise, you can see recordings of these conversations on Treasury Talent TV on YouTube!


 

What: Weekly LinkedIn Live Chats with Practitioners

Format: The Treasury Talent Team chats with practitioners from around the globe about their careers, their views on networking & relationships, industry insights, and much more!

When: Wednesdays at 6:00 PM Eastern | 3:00 PM Pacific

Where: You must be following and/or connected to Simon Lynch on LinkedIn to participate! Otherwise, you can see recordings of these conversations and a ton of other treasury-related content on Treasury Talent TV on YouTube!


 

What: Ask A Treasurer

Format: Proven Treasurers from around the industry will join the Treasury Talent team on a weekly basis. The team will talk to the Treasurers about their careers, personal development, and much more! The treasury community will have the opportunity to participate and ask questions in real-time.

When: Beginning January 15th, 2021 at 12:00 PM Eastern | 9:00 AM Pacific

Where: You must be following and/or connected to Simon Lynch on LinkedIn to participate! Otherwise, you can see recordings of these conversations and a ton of other treasury-related content on Treasury Talent TV on YouTube!

 

*The benchmark used is jobs data from 1st quarter 2020

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