Treasurers, brace yourselves—I’m about to reveal something that might just blow your mind.
Do you know what the number one reason treasury professionals are happy in their jobs?
A good salary…? No.
A fat bonus…? Nope.
An all-expenses-paid treasury team trip to the Bahamas? (Nice try, but also no.)
The actual answer? Having a good boss.
Yep, that’s right. After analysing over 1,300 responses in our latest Treasury Salary Survey, we found that salary ranked sixth on the list of reasons people were happy. SIXTH.
Meanwhile, the biggest reason people were unhappy? A lack of career progression.
So, if you’re wondering how to keep your treasury team happy, engaged, and not plotting their next escape on LinkedIn, here’s a little advice…
Step 1: Time for a chat
Sit down with your team and just talk to them. To have a great team, you’ve got to know your team. And if you really want to get into it, you can ask them these four simple questions:
- How am I as a boss? (Brace yourself for honesty.)
- What could I do better to support you?
- Do you have enough variety in your work?
- Is your work-life balance where you need it to be?
Congratulations! By asking those four questions, you’ve just tackled 80% of the reasons people leave their jobs and you didn’t have to spend a penny.
Step 2: Take action
Listening to your team is one thing. But hearing them and taking action is another. That’s what you’ve got to do if you want them to stick around and be happy.
And yes, money matters too. But do you know what matters more?
Growth.
Opportunity.
Feeling valued.
If you’re not offering career progression, your best people won’t just leave for more money – they’ll leave for a future with a boss who wants them to have one too!
Step 3: Accept reality
I had a client tell me once:
“Mike, I don’t think career progression is really that important.”
My response?
“That’s lovely, but my data says otherwise.”
This isn’t my opinion – it’s what 1,300 treasury professionals are telling us.
So, if you want to keep your best people (or just don’t fancy hiring replacements every six months), start focusing on the real reasons people stay.
And if you’re reading this thinking, “I have neither a great boss nor career progression,” well… you know where to find me.
Best regards,
Mike
P.S. Bosses – when was the last time you asked your team how they’re really doing? And treasury professionals – if your boss isn’t asking… is it time to find one who will?
