Client demand for more flexible solutions to manpower staffing issues has increased rapidly over the past few years as many treasurers have had a difficult time convincing CFOs to commit resource to permanent recruitment solutions.
The downside of this has been that many interim roles have been more routine often lacking challenge and/or interest i.e. documenting treasury processes, procedure revision, basic operations management or implementation of treasury systems.
However, there is light at the end of the tunnel!
Within the past six months positions have included an interim Senior Treasury Accountant position where our candidate was able to get involved in an interesting start-up company, facing new challenges and pathing the way for a permanent Treasury Accountant to take over.
Also, Treasury Consultant positions where clients need a fresh view point to examine treasury operations and identify what risks exists within their business and how their treasury should manage these changes.
Some of the roles have evolved into longer term assignments where clients want to try out staff before they hire them permanently. Equally candidates have often wanted to have a greater level of flexibility and the option not to have to commit to a permanent role too soon without really getting to know their potential new employers.
We are often asked whether The Treasury Recruitment Company can help recruit these differing levels of interim roles?
Our answer is a resounding “YES!”
Have you faced these problems before?
“My Treasury Manager’s on long term sick leave”
“The business is going through a period of significant expansion”
“I can’t get permanent headcount”
“My analyst is taking a sabbatical”
In these turbulent economic conditions our clients face these issues on a daily basis.
At The Treasury Recruitment Company we have the experience and expertise to provide advice to help you decide which option is most appropriate for your staffing needs.
Before hiring for an interim or temporary treasury position you need to consider the following factors:
- The likely budget
- The urgency of the work / project needs
- The length of the assignment and the likelihood of the work extending beyond this period
- The possibility of the role becoming permanent
We have an extensive database of professional Treasury staff with specialist skills looking for immediate temporary and interim placements.
There are two types of non-permanent employee:
Treasury Temp
A treasury temp is somebody who works for a company on a non-fixed term basis. They are usually hired as temporary employees to cover holiday or sickness.
Generally, a minimum one week notice period is required to terminate temporary employment by either party, this can be longer through the agreement of either party.
The employee’s salary is usually calculated on an hourly or daily rate and is paid by the company on a weekly/monthly basis directly by the company to the employee by the hiring company.
You are hiring the temp’s services and you will carry direct liability for the employee as they are 100% under your direction for the time they work for you.
Who becomes a Treasury temp and what is their background?
In our experience Treasury temps don’t choose temp roles on a longer term basis. They are candidates who are ‘filling in’ roles perhaps whilst seeking a permanent position and they were made redundant from a position when the market was quieter, and they still need to pay the bills!
Sometimes they will be candidates who have gained their Treasury expertise from overseas and often come from the Southern Hemisphere on a working holiday visa basis and they will happily fill in for up to 6 months in a role to support their travels.
Treasury Interim/Contractor
Interim treasurers are generally employed for a fixed period of time, typically between one and six months or longer.
Their role will often be project based, covering sickness or possibly maternity leaves with the responsibilities more operationally focused, driven by day to day needs and demands. They are usually paid on a pro rata basis directly by the employer.
The flexibility, choice and variety of experience an interim employee can offer an organization means that this method of recruitment is increasingly popular amongst Treasury departments.
Companies also look to hire interim treasurers to cover while recruiting a permanent member of staff or with a view to taking the temp on permanently, during busy periods of the year or to assist with special projects.
Generally, the notice period between either party will be agreed by the client.
Who becomes an Interim Treasury Employee and what is their background?
Often, they will be a treasury professional who has finished permanent employment but who is seeking a demanding role with flexible working patterns. This will often be a new role or a role working alongside other senior finance professionals where they are likely to be working on a specific strategic project basis i.e. setting up capital structures or reviewing treasury operations.
Roles are generally more project based and conversion to a permanent role is less frequent.
Generally, the notice period between either party will be agreed by the client, anywhere between one to 3 months is usual.
