Treasurer Search, what happened in 2018?
The annual Treasury Fair of the DACT marks another birthday of Treasurer Search. We are entering our 10th year of existence. This is the moment to look back and of course forward. What were the remarkable events in 2018?
Increase in interim (ZZP) and graduate recruitment
First about our core business: finding staff for permanent and interim positions in corporate treasury. The positive developments of 2017 continued in 2018: people continue moving forward in their lives and careers. The standstill of the crisis is over. Companies want to strengthen their treasury departments and know how to find us. Personally I am very happy with clients returning. Together we build and strengthen relations. Remarkable is the continuing growth in us finding interim treasury solutions. Next to the classical contractors (ZZP), we also offer other contracts (detacheren, uitzenden) if so desired. In my perception the essential part of our services is making the match between client and candidate. Not only with us, but in the whole market, the number of open positions at senior level (€100K+) is stable and did not reach the peaks we saw in 2016. We will see what 2019 will bring, first signs are good. Finally we see an increase in our portfolio at graduate and second career step level. This might have to do with our increased pro bono involvement in education and Kim Vercoulen starting in our team.
Team Treasurer Search
As an entrepreneur I hugely enjoy working with a professional and stable team that both in support (Monique and Bianca) as well as in leading recruitment projects (Kim, Heleen and me) can give each other back up when necessary. This year we increased our cooperation with independent experts and had a graduate student helping us with GDPR.
Bureaucracy, tax rulings and regulatory affairs
Hopefully you do not know me as the complaining type but I do want to mention 2018 brought increased bureaucracy. Of course in our business, where confidentiality is key, GDPR (AVG) is extremely important. We are compliant and will have to reach out to you about this topic on a regular basis.
Both the Brexit and the Dutch government discussing dividend tax policies led to uncertainty with our clients. So far the impact has been oversee able but can be noticed. Finally we have seen an increase of legal requirements from some of our large international clients. Experts without expertise in recruitment or treasury send us hundred page contracts and require too many reports and insurance policies. Of course we comply but I am afraid the only result is fake certainty and a lot of work. The good thing I take from this is that the contact persons with these blue chip global corporates appreciate our services.
Introduction of the Treasurer Test
We are launching partner of the Treasurer Test. Next to challenging and interesting recruitment projects, this is the most exciting project I worked on the last year. In another article in the newsletter you can read about it. I look forward to your input on our objective measurement of the skills and personalities of the treasury population.
If November is indicative of what will happen in 2019, there will be an assignment bonanza. And we are ready! I hope and expect an increase in senior and interim assignments, I think enough candidates are available for these. Furthermore there will be more pressure on the junior and medior part of the labour market, resulting in a high staff turnover and salaries increasing. This might lead to a further influx of non-western staff entering our labour markets. So far we have placed candidates in nine countries and found candidates in many more. We aim at an increase of the non-Netherlands component but only if we can maintain or improve our current service level in our home market.
For the first time we have a stand at the Treasury Fair of the DACT and we hope you will notice and appreciate our further marketing investments. Hope to see you at the fair and I am sure we will be in contact.
On behalf of Team Treasurer Search,