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© Sculpture: Jos Dirix
© Sculpture: Jos Dirix

Flexible (treasury) labour market solutions

Pieter de Kiewit 21-09-2021 12:53 PM
Categories: Labour Market

Flexible (treasury) labour market solutions

There is a Dutch saying “under pressure everything becomes fluid”. Itkind of means that the real creativity comes up if the obvious does not work anymore. In the current labour market there is a shortage of qualified staff. Luckily, we can still find sufficient treasurers and cash managers but we notice that supply is drying up. We continue working with the regular treasurers but also with the creative solutions. Let’s share a number of these creative solutions to you:

  1. The corporate treasury labour market is extremely international. Experts are willing to move to other countries for their career and a increasing number of our clients is willing to hire a non-local. The obvious hurdles against this solution are the hassle that comes with helping the candidate move and sponsoring a work permit. My observation is that this hassle is considered hard by some companies, not by others. Booking.com, for example, considers the labour market a global one and is able to bring in staff from everywhere;
  2. A lot of work is being done to prevent conscious and unconscious bias. Age, gender and where you(r parents) came from, regretfully lead to rejections. This also leads to missing out on great candidates. Last month we placed a candidate who already celebrated his 67th birthday and we intend to break that record this month. These senior candidates are not working because they must, but because that is what they enjoy;
  3. If covid taught us something is that working remotely can very well be done in corporate treasury. By now we all know that 100% might work for some, but not for all of us. We will find a new balance. Perhaps you also saw the recent job advertisements recruiting people based anywhere promising a fully remote work week;
  4. There used to be a time that all employees were on a permanent contract for life. Between the fully independent contractor and the old fashioned lifetime-employment, there is a wide variety of contracts. Sometimes with the support of service providers. I notice that many have an opinion about this development: the government, unions and judges. I also notice that an increasing number of employers and employees ask each other what they think is important to them: working part-time, child care, retirement planning, development, working in the evening, et cetera. And they find ways to balance requirements;
  5. The final solution I want to mention, also because it works for me, is outsourcing. In a small company like ours, bookkeeping and managing IT are typically tasks to outsource. From a treasury perspective, hiring a super specialist for your team or a full treasury outsourcing can be an appealing option. See also treasuryxl/rent-a-treasurer

Without entering political discussions, I see students entering the labour market later and an aging population. The group of people paying income taxes and funding the AOW (Dutch state retirement) gets relatively smaller. In my opinion this is a ticking timebomb so we will have to find new “liquid” solutions. Luckily these are available, let’s follow their acceptance.

What do you think?

Pieter

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