Introducing Our Treasury Analyst Development Community (TADC)
So, You Finally Filled Your Analyst Position
You may be breathing a sigh of relief because you finally filled that long open treasury analyst position. But you are still on edge because you are wondering, “Will they be good? And, if so, will they stay?”
Will You Keep That Analyst?
You're not alone in your worries. I hear from my community members frequently about their hiring and retention challenges. But a defining moment for me was last spring when I received two emails within 12 hours from senior treasury folks asking for help in filling their open analyst positions. Now, I am not a recruiter and I typically don’t engage with analysts, so it was telling that they would contact me about these openings. But, when my members have a common problem, I look for ways to systemically solve them.
We Can Help You Keep Them
These two emails were the catalyst for the idea of our new Treasury Analyst Development Community (TEDC), the purpose of which can be summed up by Richard Branson, “Train people well enough so they can leave. Treat them well enough so they don’t want to.” You may have received a recent email announcing this community for early career treasury analysts. That email explained our goal of supplementing your development efforts and giving you an opportunity to invest in these important staff members.
“Train people well enough so they can leave. Treat them well enough so they don’t want to.”
- Richard Branson
Experts Validate Our Thinking and Experience
About a week after that email, I stumbled upon a fascinating article in Forbes with references to Microsoft, McDonald’s, Starbucks, AFP’s CEO, and most notably, research by McKinsey that affirms exactly the challenge we are addressing and the solution we are proposing. In a nutshell, if your analysts aren’t growing, they will be going.
I encourage you to read the article for yourself here https://www.forbes.com/sites/matthewsmith/2022/09/28/the-secret-weapon-in-a-tight-labor-market-investing-in-career-development/?sh=609a7ab16b22 .
Don’t be Penny Wise and Pound Foolish
The Forbes article speaks of companies quickly cutting development budgets in economies like ours today. Interestingly, I have already seen this start to happen at companies I work with. They are struggling to fill roles while also eliminating their development opportunities, when it would benefit them more to do the opposite. Showing prospective employees that you will invest in them makes your role much more attractive than another offer. Why join a company that does the bare minimum, when you could join a company that will intentionally help you grow? And why leave a company that is committed to helping you achieve professional success? And for less than $2,000 annually you can make a substantial investment in them that will make them feel appreciated and keep them around and motivated to produce greater results. You will get that money back in folds. Doesn't that make sense?
For the benefit of your analysts and your broader organization, I encourage you to reach out to sign them up or learn more.
“The only thing worse than training your employees and having them leave is not training them and having them stay.”
- Henry Ford
Bryan Richardson
501-920-6159
October, 2022