Keeping treasury FTEs happy will become critical when the economy finally recovers; be prepared.
Talent management is certainly not a new subject but it’s still a struggle. Companies have for years been trying to concoct new ways to retain top talent. Not always with success. 

The NeuGroup has discussed talent management across a number of its executive level peer groups and these discussions reveal that the majority of members – like many of their colleagues in corporate America – have kept FTE levels constant since the economic downturn began in 2008. Only a few members have added FTEs, but mostly in critical areas outside the US to support corporate-wide initiatives like shared service centers or treasury centers. This likely means that treasurers are getting tired of long slog of “do more with less,” and having gone with little or no salary increases over the last several years.

As compensation structures begin to unthaw, and the need for global treasury expertise increases, companies may soon see the “perfect storm” in the area of talent management – treasurers moving on and competition heating up as demand increases. Therefore, retention of critical talent can be key to a company’s continued success. Executive management teams should ensure their recruitment and talent management programs properly address these key issues.   

It may surprise many that retaining top talent isn’t always just about the money.  A recent study done by PDI Ninth House showed only 10 percent of working professionals say that traditional compensation and career advancement opportunities are critical aspects of their job.  More often, these professionals were interested in the ‘softer side’ of talent management and had greater interest in obtaining non-monetary incentives as part of their overall compensation package. 

Some of these non-monetary incentives include:

1. Flexible work schedule.
2. Telecommuting. 
3. Challenging work.
4. Influence on the organization.
5. Fitness program membership.
6. Rotational programs.
7. Executive education program or company sponsored treasury certifications.

But don’t wait for the results of the annual HR employee satisfaction survey to understand employee sentiment.  By then, it may be too late.  Stay in touch with employees and watch for signs of disengagement, which may include: an increase in employee complaints, increased absenteeism, productivity decline or increased conflict within and between work groups.