Tag Archives: recruitment

Is It Time To Make A Career Move? Mind the gap

When things get bad at work do you find a way to fix it or consider a career move?

The bad days are becoming more frequent, the work is no longer challenging and your procurement career seems to be floundering.   The question arises: what must you do to kick your work life into action?   If you have a general feeling of being undervalued or not being fairly recognised for your achievements, now is the time to take stock. Work takes up at least 40 hours of your week.  Life’s too short to be miserable, this is decision time.

It is unlikely that your current situation will improve much unless there is a radical change in management or strategy.  The options are:

  • Move into a new role at your current employer or
  • Move on to a different employer in a similar or different role 

Assuming that procurement is still the place you want to be, there are some steps you need to take whether you plan to stay with your current employer in another role or move on to new adventures.

Do a personal gap analysis

Take a deep, introspective look into yourself. The aim is to identify the knowledge gaps between the skills you need for your chosen direction and those that you currently have.  What changes should you begin making to prepare yourself for the kind of job you want? As Abraham Lincoln said, “The best way to predict the future is to create it.”   Be realistic about your current capabilities.  Then go and fill the gaps.

Consider further education   

There’s no doubt that further education and continued professional development play a part in opening up opportunities. The reality is that most the attractive roles require some tertiary education or certification, especially in a tight job market. If you are lagging in this area it may be an opportune time to upgrade.   If your current employer can subsidise your work-related studies, take advantage.    No funds?  There are lots of free training available, there’s no excuse.  What about a Massive Open Online Course (MOOC)?

 Learn the new skills

There are roles that didn’t exist ten years ago and those are where experience is in short supply.  The application of I.T. technologies to procurement problems is growing fast:  consider data analysis and warehousing, supplier relationship management (SRM), and procure-to-pay (P2P).   Also, both the public and private sectors struggle with issues of fraud, corruption and conflict of interest. Companies need people who can exercise constant vigilance over supplier risk, governance and contract compliance.

Sustainability issues are placing new demands on procurement leaders and their teams.  “Green” procurement is a growth niche where there is a limited number of experienced applicants and pressure is building on companies to limit their negative impact on the environment.  Focusing on fields that concern you (and the consumer) and those that play to your strengths will deliver the most work satisfaction.

Get a grip on the numbers

Whatever direction you choose, advanced analytical abilities are becoming mandatory.  An in-depth understanding of financial ratios and the triple bottom line can give you the edge over others competing for similar roles.  If you don’t know what macros or what a cash flow crisis is, now is the time to find out. If your current company offers in-house courses that can enhance your computer skills, sign up.

Influence and persuasion

A survey conducted recently by Accenture amongst global CPOs noted that traditional areas of knowledge and experience are less important to success than the ability to develop and sustain high quality internal and external relationships.  Stakeholders can influence your project’s success or failure.  Good stakeholder management just means being able to win support from any and all interested and affected parties such as end-users, subject matter experts and key suppliers.

Attitude is important, that much is clear.  It seems behaviour and demeanour can impact on career progression as much as technical know-how.  Always do what you promise to do.  To paraphrase  J.F.Kennedy,  don’t think about what your stakeholders can do for you, think what you could do for them.

Communicate your successes

Keep an on-going record of what you have done well, e.g. reported cost savings, accolades you have been given, and positive feedback received from internal customers.  This information can be used to enhance your CV.  Don’t be shy to share your successes; it’s a good confidence booster.

Moving employers   

Moving on to another employer or launching yourself as a consultant or contractor may be a choice, or it may be thrust upon you.  Protecting yourself fully from downsizing and “restructuring of the workforce” is pretty much impossible.  Don’t despair. Review your achievements to date, fire up your CV and take yourself to the market.    Sometimes you have to take a step backwards to move forwards.

The best a person can do to rise above the mainstream is to have a good attitude, stay relevant, keep up with trends, communicate well and keep the networks alive.  Sometimes the current environment is not going to deliver the options you need. Then it is time to move on.

Bridging the Talent Gap in Procurement: Attracting New Hires in a Digital World

Want procurement teams to attract the best talent? Show us your stuff!

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According to The Deloitte Global Chief Procurement Officer Survey 2017, 87 per cent of the respondents agree that talent is the single greatest factor in driving procurement performance. But the rates of new hires and recent graduates pursuing a career in procurement is decreasing.

That translates into a problem for the future of this function – a talent gap in procurement. But why?

Procurement is More than Cost Savings and Compliance

There are several reasons we can speculate as to why the workforce is pursuing careers outside of procurement, but in my opinion the overarching problem is that procurement is not seen as a ‘sexy’ career path. In the world of tech startups, innovative products, self-made social media sensations, and more, the idea of focusing on corporate cost-savings and spend compliance just doesn’t appeal – especially to the up-and-coming millennial workforce.

But the truth is, procurement is more than policing the organisation and saving company money. It’s about building relationships with internal stakeholders and external suppliers, drawing strategic insights from data to help others and using unique talent to solve problems.

Confession time: I’m also a millennial, and I think we have an opportunity here to fill the talent gap with eager new hires by showing what the new world of procurement is all about.

Show Us Your Stuff, Procurement

As employers and providers in the world of procurement, it’s up to us to make procurement a strategic and desirable field to enter. Hiding in the back office has made many of us modest, but it’s time for us to show off a bit to demonstrate the true strategic value procurement brings to the party. In reading The Deloitte Global Chief Procurement Officer Survey 2017, there were clear trends on how CPOs feel about the state of procurement, which led me to think about how we can apply those insights to address the talent gap.

Here are 5 ways to bring procurement careers into the modern world…

1.Create a digital culture

I’ll admit, I stole this one right from Deloitte’s recommendations because it’s spot on. 75 per cent of the survey respondents agreed – “procurement’s role in delivering digital strategy will increase in the future and are also clear that technology will impact all procurement processes to some degree.” And you know who grew up with technology from day 1 and is perfect for navigating a digital procurement world? You guessed it – millennials. Demonstrate to this up-and-coming workforce that your procurement department is committed to leveraging technology to automate and outsource the repetitive tasks, expedite the pace of business and enable them to focus on strategic initiatives. Invest in digital procurement today and think about how emerging technologies like AI, machine learning and robotics influence the procurement world. And best yet – involve your entry level procurement team members in these discussions. Give them the opportunity to shape and influence the path of technology at your organisation and make recommendations on your digital future.

2. Invest in employee development

According to the survey, 60 per cent of CPOs do not believe their teams have the skills to deliver their procurement strategy, yet investment in on-going training and employee development remains low. Demonstrate to your current staff and those entering the workforce that you recognise that people are key to procurement success and invest in their future with procurement and non-procurement training programs.

3. Dial-in on data

Data is the alpha and omega of the future and 60 per cent of the Deloitte survey respondents regard analytics as the most impactful technology for the function over the coming two years. So, this is a two-part recommendation: 1) Make sure to capture 100 per cent  of your financial data, and 2) Properly train current and future procurement professionals on data analysis. Analytics and technologies like AI and machine learning are only as good as the data that feeds them, so it’s imperative to build a complete data set for your employees to leverage. Gartner also says that data science and analytical skills are required in procurement to leverage a future with AI. Many professionals enter procurement to be hands-on in solving problems across the business – this could be saving money; negotiating better contracts; optimising the supplier base; helping other departments create and track budgets; reducing risk; finding funds to support new product innovation or growth, etc. Give these professionals reliable data and training to properly analyse it to extract actionable insights so they can act quickly and effectively on strategic initiatives.

4. Provide opportunities to influence innovation

Long gone are the days when procurement meant squeezing every penny out of suppliers and business partners. Now it’s about building strategic partnerships that can take your business to the next level and procurement is at the forefront of that effort. Young procurement professionals are going to be excited and eager to make their mark on something – let them help lead the charge in sourcing and nurturing relationships with key suppliers. Product innovation comes not only from finding the money to explore and test but also from finding the right partners that bring you the elements you need to build that innovation. Create collaboration between your procurement and product departments, as well as other departments for that matter, so that procurement becomes a true business partner and is actively involved in core business functions.

5. Build rapport with internal stakeholders

Another reason that procurement might not be seen as ‘sexy’ is the simple fact that people in other functions just don’t know what exactly it is that they do. If you’re a procurement leader, be a champion for your team. Help others understand what procurement truly is and communicate and celebrate your wins. Also look for opportunities for collaboration between your team and other business functions. Become an advisor during critical times like budget planning and showcase the talent you have in your team. When budgets remain flat, offer up procurement expertise to help other departments produce cost savings and new money from their existing spending habits. As the Deloitte survey eloquently says, “Procurement professionals should challenge themselves to understand functional stakeholders in the same way they do their suppliers.”

At the end of the day, many people are motivated by the idea of being a hero at work. What profession enables employees to swoop in and save the day better than procurement? There are not many. With the required people skills, analytical approach and desire to focus energy internally and externally, the procurement profession is a truly unique career path that doesn’t receive the credit it deserves. Look on to the future of procurement at your organisation and build the culture that attracts your next generation of hires.

To learn more about Basware’s approach to collaborative procurement, download the eBook: WeProcurementTM: Putting the “We” in e-Procurement and contact us to learn more about rolling out a digital procurement solution.

Autonomy, Mastery and Purpose: Why The Young Are Snapping Up Tech Jobs

Job satisfaction comes down to three things: autonomy, mastery and purpose. Does this explain why millennials are dominating in the tech industry? 

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Numerous industries have been accused of many different types of hiring bias and flawed hiring policy.

The service industry, for example, has long been subject to questions about its lack of affirmative action in this area based on the demographic of candidates that tend to be allocated these roles. The same applies even within typically diverse workforces.

Hiring bias at its worst

Few sectors have faced the intense scrutiny aimed at the tech world in recent years, owing to its pervasive reputation for hiring vastly disproportionate percentages of younger males.

A quick Google search of “industry hiring bias” results in almost an entire first page of links to think pieces about Silicon Valley.

There are countless arguments to be made on the subject, many of which rightly focus on the urgency of addressing this gender imbalance. One popular proposal for tapping into the vast, and shamefully underused, female talent pool suggests funding schools to better promote careers for women in computer science.

But if the tech industry is also heavily skewed towards youth, how long would those careers remain satisfying for?

Job satisfaction at the biggest tech firms

This latter question prompted a recent research project by online compensation and benefits analyst Payscale. By gathering data from almost 35,000 workers across 17 of the biggest tech firms in the world – including eBay, Google, Cisco, Facebook, Samsung, Intel, Apple and Microsoft – researchers attempted to gain an overview of how employees’ job satisfaction levels mapped on to various metrics such as median age, early and mid-career pay levels, and total years of industry experience.

When transposed as a series of infographics, the data seems to highlight some marked trends across the board: in particular, workforces with higher average ages in the study group (notably IBM, Hewlett-Packard, Oracle and Samsung) were among the lowest-scoring in terms of overall job satisfaction.

Moreover, many of the same names also placed highly in terms of their employees’ length of tenure with the company and total years of industry experience, while coming in amongst the lower rankings for both early- and mid-career median pay levels. Taken at face value, this immediately presents various possible scenarios.

One natural observation would be that the ‘more satisfied’ workers were often among those being paid the most relative to their experience, which, let’s face it, doesn’t seem much of a hot take.

What appears to be a fairly direct inverse correlation between median age and reported job satisfaction is potentially more interesting, but the question remains as to whether this phenomenon is in any way unique to the tech industry. After all, there’s every chance that the methodology of the study simply benefits companies who have a high turnover of younger, less experienced workers, whose expectations and needs are typically less complex at such an early career stage.

Are millennials best-suited to tech jobs?

When it comes specifically to tech roles, and the fact that they’re so commonly filled by younger-than-average staff (the national median age for a US worker is 42; at Facebook, it’s just 29), many people don’t think it’s quite that simple.

The much-quoted author, speaker and ‘business guru’ Daniel Pink, responsible for such widely read titles as Drive: The Surprising Truth About What Motivates Us, might be chief among them. Pink’s theories around what ultimately leads to lasting job satisfaction focus on the triumvirate of ‘autonomy, mastery and purpose’. In other words, a sense of independence, a feeling of capability, and a genuine motivation to keep plugging away.

Millennials entering the tech industry may be particularly well-placed to tick all three of those key boxes because of, not in spite of, their age. Pink notes that, having grown up in an environment of always-on connectivity that didn’t fully exist 20 years ago, millennials are finding it much easier to adapt as the internet rapidly erodes the decades-old concept of a standard office-based work week.

He also points out that today’s all-pervasive digital culture means new graduates no longer seek to separate their work and social lives to nearly the same extent as previous generations did. As a result, the boundary between professional performance and success in other areas of millennials’ lives is arguably less clearly defined; this in turn becomes an obvious source of general motivation that perfectly suits the thrust and structure of many cutting-edge tech firms.

Combatting age discrimination

The extent to which these sorts of theories hold water is very much up for debate. What we do know is that the debate is heating up: last year, Bloomberg reported that in just eight short years, 226 complaints pertaining to age discrimination had been registered against the top 150 Silicon Valley firms.

While tech employers continue to perform well in global Best Employer lists, the conversation will certainly benefit from some longer-term data as we start to develop a clearer picture of career movement across the wider industry in the coming years.