If treasury recruitment has felt slow, hesitant, even a bit stuck, you’re not imagining it.
But I don’t think it’s been a hiring crisis. It’s been a waiting game.
To set the scene…
2025 was brutal. Tariffs, trade wars, uncertainty everywhere. And then AI suddenly started appearing in every conversation.
2 years ago, most people didn’t know AI was even on the horizon!
Now we’re all trying to work out how to use it on top of an already demanding day job.
Layer that on top of treasury responsibilities, you can see why people haven’t rushed to move companies.
Remember, Treasurers are NOT risk-averse BUT they are risk-aware! 🤔
They’re looking at the market and thinking the waters are choppy, the workload is heavy, and I’ve got a lot of responsibility right now…
This is not the moment to move roles.
So, they wait until things settle down, until they’ve got a bit more control, the markets are more settled and calm…
Then they’ll be able to properly commit to a job search.
That’s what’s happening. Many professionals who were open to a move have stayed put.
They are passively looking, keeping an ear to the ground, but not actively pushing forward.
And that creates a strange dynamic from the outside…
It starts to look like there’s no talent. No movement. No one applying.
Recruitment within Treasury relies upon treasury talent moving roles.
Then there is a domino effect.
One person moves, an opening is created, someone is promoted then a gap opens behind them, and so on…
BUT
Yes! That’s a big BUT 😉 – if the first domino doesn’t fall, everything behind remains static.
I’ve seen this first-hand on some of the senior campaigns we ran last year:
When a great role came to market, there was an avalanche of responses, and not just from random candidates – there were some great treasury professionals desperate to develop their treasury careers!
There was so much pent up demand from treasury professionals to move positions – they were fed up and wanted a move, no matter where.
There’s a lot of pent-up frustration when the market isn’t fluid.
But the key point to remember is:
The talent hasn’t gone away, it’s just waiting.
Many treasurers have been in their roles for 5, 8, even 10 years.
They’ve done what they set out to do, but they’re cautious about making the wrong move in an uncertain environment…
So, they’re holding their ground, doing their jobs, and watching for something that genuinely moves their career forward.
That’s why hiring has felt harder.
Now the dust is settling, it feels a little bit more open again…
I’m hearing more people say they’re willing to entertain the right opportunity if it comes along.
Often, the right role isn’t always obvious until you actually see it.
Many people don’t know they’re interested until a conversation starts and they realise it’s a challenge they hadn’t previously considered.
So if you’re a candidate, there’s no need to force a move just because the calendar says you should. But staying close to the market is still important.
If you’re hiring, it’s worth remembering that this hasn’t been a shortage of talent. It’s been a confidence and timing issue. The right people are there, they’ve just been waiting for the right moment. It’s been a bit of a waiting game.
And we’re always here if you need advice!
Best regards,
Mike
P.S. If you’re in that “waiting” phase and you want advice, but unsure whether now’s the right time – drop me a message, let me know what you’re holding out for.
I might be able to find it for you! 😉
