When it comes to the future of every company, hiring is absolutely essential. According to 73% of CEOs, there is a high skill shortage which means that companies cannot simply wait for potential employees to approach first.

Now, it isn’t as simple as posting a job ad and then waiting for the right type of potential employees to apply.

The entire world of recruitment has drastically changed and also, candidates have also changed in the way that they look for potential treasury jobs. This has made sourcing and hiring great candidates quite difficult and it now takes a lot more time and money.

Now, finding good talent isn’t solely up to your company’s Talent Acquisition Team. It is actually in the hands of every single person within the company to some degree. Good talent acquisition is essential for company growth so that the company can become stronger and more powerful. Therefore, each new employee that is added to the company can either help the company or have the opposite effect.

Now, if all of this is relatively new to you, then you should look at the latest treasury recruitment trends.

1. Collaborative Hiring

This is also referred to as team based hiring and is one of the biggest trends in recruitment. In the past, managers were usually in charge of hiring and making final hiring decisions. Now, hiring is seen as a team effort where teams work in order to find the best talent for the job.

The teams will have persons that are from different jobs within the company. In most cases they will consist of the hiring manager, recruiter, HR manager as well as other employees at various levels in the team. This means that it will consist of employees that are both higher and lower than the potential candidate within the organisation.

Advantages

Higher quality candidates being hired due to more key employees being involved
Highlights good team culture and strengthens the values of the company
Lowers risk of poor hires and feelings that the job wasn’t properly explained
Better and more diverse assessment of potential new employees which can help to get rid of any biased decisions
Existing employees feel more valued which would lead to higher employee retention rates

2. Proactive Sourcing

This is known as identifying and engaging with possible new employees even before a new job is open at the company.

This is where talent pools are created so that once a new employee is needed, the company can simply tap into these pools. It is based on passive candidate markets which is basically a huge pool/ocean.

According to our Salary Surveys, it was found that 4 out of 5 professionals in the treasury indicated they were not looking for a new job but were simply open to learning about any new opportunities that were available.

This type of approach is quite long game and the strategy is about creating long term relationships by understanding the changes in the market. It is also based on showing off important content through social media, blogs etc.

Advantages

Lowers the amount of time it takes to hire a new employee due to the pool of talent readily available to access
Increases the talent quality due to the fact that assessments of the candidates would have already been done
Allows companies to have easier access to excellent talent which is a competitive advantage
Increases diversity due to the creative methods that would have been employed to create the pool of candidates

3. Inbound Recruiting

This is when both offline and online methods are utilised to interact with active and passive job seekers. They are all typically in varying stages of recruitment.

The great thing about this strategy is that it is based on how modern candidates actually look for and commit to new jobs. It is now outdated to simply advertise new job openings and expect that those ads would reach the right candidates.

Advantages

Getting the attention of candidates that are excited to work for your company and don’t just simply want any job
Increased success rate of candidates
Lowers cost for advertising and typical job boards don’t need to be used to get prospective candidates