Buyers Meeting Point procurement by Kelly Barner

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Sourcing Procurement Talent

Sourcing Procurement Talent

Special thanks to longtime BMP friend Charles Dominick, SPSM3 of theNext Level Purchasing Association for this guest post.

As a procurement professional, you need to be good at finding suppliers who work out as good or better than you predict.  As a procurement leader, you need to be good at finding employees who work out as good or better than you predict.  In this post, I’ll share some traditional and not so-traditional ways to find high-potential procurement talent.

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Book Review: The Procurement Value Proposition

Book Review: The Procurement Value Proposition

“Although procurement has certainly evolved from its early roots, it still faces challenges in terms of executive recognition, talent management and organizational challenges. Modern enterprises are faced with a massive set of new challenges, including the forces of globalization, increased risk, complex supply chains, and the spread of government regulation on decision making, not to mention the tremendous strain of man’s presence on the earth’s natural resources.” (p. 1)

 

The Procurement Value Proposition (Kogan Page, December 2014) takes on some of the most pressing challenges facing procurement today and makes them seem both more comprehensible and realistically addressable. As acknowledged in the quote above, taken from the book’s introduction, procurement has evolved significantly since the early days when we got our start in the railroad industry. The problem we must own today is that the organizations we support have evolved faster and more dramatically than we have. What procurement needs is a better understanding of how to fuel our development.

 

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Webinar Notes: Procurement career paths: Lessons from the latest talent research

Webinar Notes: Procurement career paths: Lessons from the latest talent research

This week’s notes are from an October 16th Procurement Leaders webinar featuring the results of their latest research into procurement talent. It is not yet available on demand, but it should eventually be listed here.

This absolutely fantastic webinar was presented by PL Research Director Maggie Slowik. We all know talent is an ongoing issue for procurement contributors, managers, and executive leaders. In my recommendation of the event on Blog Talk Radio, I shared two sadly common views of procurement talent taken from the books I have reviewed:

“Some executives used to think of procurement as the place you send staff away in order to never see them again.”Leading Procurement Strategy, Carlos Mena, Remko van Hoek, and Martin Christopher

“You see, many procurement departments have been staffed in the same manner as the Island of Misfit Toys; when an employee did not perform elsewhere in the organization and the management didn't have the heart to dire him or her, that employee was sent to work in the procurement department”The Procurement Game Plan, Charles Dominick, Dr. Soehila Lunney

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Are Millennials Changing the Face of Procurement?

Are Millennials Changing the Face of Procurement?

There are approximately 80 million people in the United States between the age of 18 and 30, a group known as the millennials. Many believe that millennials bring a unique perspective to business as compared to other generations because of their tech savviness. Technology is one of the biggest drivers for globalization, but it also allows disparate locations to connect and communicate on various topics such as current events, special causes, and marketplace trends. Millennials have already started to drive major changes in the sourcing and procurement industry, such as green purchasing, the push for free and collaborative information, and updated workplace abilities.

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Webinar Notes: Talent and Knowledge Management: The Procurement Imperative for 2014

Webinar Notes: Talent and Knowledge Management: The Procurement Imperative for 2014

This week’s webinar notes are from a March 25th event presented by Sourcing Interests Group and Denali Group. If ‘getting it done’ is the focus for most procurement organizations, talent and knowledge management are where the rubber meets the road. In the event, we heard Denali’s Managing Partner John Evans and their Director of Recruiting and Staffing Marrena Anderson talk about the growing trends that require additional investments in talent and how to build an effective knowledge management program.

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Attracting Talent like a Magnet

Attracting Talent like a Magnet

There are a lot of articles about shortages of resources for a variety of reasons. One of the issues is attracting talent to procurement when other areas are also drawing on the same talent. How can procurement become a profession that others are drawn to like a magnet?

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Blog Pick of the Week: Where are all the good ones?

Blog Pick of the Week:  Where are all the good ones?

My father was very fond of fishing. Most times he did not catch anything but he enjoyed being out in the boat and absorbing his natural surroundings. As a child, I only enjoyed it if I caught something. One vacation when I was 8 or 9, we were camping on an island. For 3 days, we caught a fish every few minutes. It was exciting. Most of the time they were too small and we set them free but what excitement for all of us!

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Webinar Notes: Looking for Talented Leaders to Take Sourcing & Procurement to the Next Level

As I mentioned in this week’s PI Window Blog Talk Radio update, I don’t usually feature previous events, but last week’s Gartner event deserves to be an exception. “Looking for Talented Leaders to Take Sourcing & Procurement to the Next Level!” was an informative half hour event that is pertinent to all career supply management professionals. The event and slides are both available on demand on Gartner’s site.

 

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Blog Pick of the Week: Talent Management and the Year end bonus

Many organizations offer bonuses at the end of the calendar year or shortly after their fiscal year end occurs. This is often based on specific growth metrics and savings targets for procurement organizations. I liked this blog as it makes you think about the motivation for high performers and how to retain your staff.

Companies seem to be shifting away from year end bonuses. A few years ago, 73% of companies gave bonuses and now it is down to 57%. Obviously, the economic situation has something to do with that. Many companies that do have minimal amount , more of a token. Where it matters is when it really is based on performance and becomes part of the total compensation package. 

What does your company do? 

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Blog Pick of the Week: How to Retain your Top Talent

Are you tired of trying to hire, maintain and retain talented individuals? How do organizations with low turnover rates do it? I decided to look around and see what some companies are doing.

One organization allows their staff to take a sababatical. This program can be a one-time opportunity and may either be paid or unpaid. With so many professionals working a lot of overtime, this may be a wonderful incentive towards retaining your talent.  

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