Q1 2024: How has the treasury recruitment market started the year
Q1 Treasury vacancies
Some positive signs have been emerging recently that appear to hint at both a market and economy that are improving. We seem to be on our way out of the shallow recession we found ourselves in at the start of the year, and inflation rates have fallen to their lowest levels for more than two years (Bank of England base rate is now at 5.25%) . However, 2024 is set to be the busiest year ever for elections with nearly half of the world population due to vote; the UK, the US, Portugal, Belgium, Austria, South Africa and Mexico to name but a few.
Against this backdrop it is tough to predict what the rest of 2024 and 2025 has in store.
The treasury recruitment market is often associated with the phrase ‘recession proof’. This is because in a difficult economy treasury functions become even more important. We see an increased focus on cash visibility and liquidity which requires, more specialist expertise for raising finance and defining a groups funding strategy. However, despite this, we have seen a slower start to the year, with treasury job flow down in January and February compared to 2023. The market now appears to have bounced back somewhat and we saw a 50% increase in new roles coming to market in March compared to February.
So far this year we have also noticed businesses are taking longer to complete a process. This may be down to an extra interview being put in or longer gaps in between each stage. This is because in a market where hiring teams have difficulty getting sign off to hire, they want to make sure they find the right individual for their team and they are happy for this to take slightly longer to ensure they get this right. However, businesses do need to remember candidates are still in demand and will often have multiple processes on the go, so speed of process is key. In addition this means salaries remain competitive and businesses need to be prepared for this in order to secure their first choice candidate.
With confidence creeping back across the board we are seeing an even split across the sectors for treasury vacancies. However, energy, mining, logistics and construction have been leading the way over the last quarter.
Coming up for Brewer Morris
Our treasury recruitment team in London is hosting an oil and gas sector specific breakfast and a women in treasury breakfast in Q2, as well as being at the ACT Conference in May. If you are planning on attending the conference or interested in joining our breakfast, please contact Eliot Bates.
