The COVID-19 pandemic has had a dramatic impact on the way we work; remote and hybrid jobs are now part of the new normal in employment practices. People are also rethinking their work/life balance, prioritizing what means most to them in life. The result has been called ‘the Great Resignation’ as people quit their jobs to pursue more fulfilling roles, often in completely different industries.
For treasuries, this could not have come at a worse time. The lockdowns sparked by the pandemic highlighted the need for more rapid action on current digitalization strategies. To date, many transformation programs have been too slow and have focused only on core treasury competence, overlooking the need to also pay attention to treasury technology.
The Treasury Management International/Barclays European Treasury Survey stated that treasury headcount would be a significant challenge in 2022. Of those surveyed, 17% cited it as the main hurdle preventing them from reaching their treasury goals. This is leading treasurers to look for additional skills – principally data analytics and artificial intelligence expertise – in new recruits.
This state of flux has increased operational risk for treasuries, as supply and demand on the labor market make finding the candidates with the appropriate skills and experience more difficult. Pursuing digitalization and transformation strategies when there is a dearth of talent is almost impossible – for many treasury operations, keeping the lights on is the best they can achieve.
SkySparc has reacted quickly to this phenomenon with SkySparc Interim Treasury Specialists, a new service that can mitigate treasurers’ operational risks by providing Interim Treasury specialists for a range of scenarios. These include:
Whatever your current need is, SkySparc has a treasury interim resource with in-depth treasury and treasury technology skills ready for you.