The Autumn Procurement & Spend Management Insider – October 2019

Our critically acclaimed report is in the pipeline, due for publication in October. Regular readers can look forward to the usual combination of news, insight, research, analysis and a bit of industry gossip including some high profile, unexpected job moves. Here’s a taster of what you can look forward to.

Movers & Shakers

The procurement technology sector has some high profile, unexpected moves in the pipeline that we’ll be able to share with you, whilst we’ll also bring news of several senior departures from one key player in the sector. There’s also news from the European market along with an update on recent results of the software vendors, and the latest mergers and acquisitions.

What’s happening in procurement leadership?

The senior end of the procurement job market was relatively active earlier this year. We’ll examine if this trend has continued into the second half of the year, where the opportunities have been and give senior professionals valuable insight into the demand for their skills.

Job Market Data

We’ll analyse the latest job market data from KPMG and both leading recruitment professional bodies (APSCo & REC) to assess what’s happening in the UK’s professional job market. We’ll look at how the trends compare to what we see in the procurement and spend management professions to keep you up to date with what your career development options look like.

People & Hiring Challenges Research

We’ve had a great response to our recent research where we asked leaders to tell us about their biggest challenges with their existing teams and the problems they face when hiring. With over 100 responses, the analysis provides very interesting insights into the real issues that businesses are facing.

There is still time to contribute before the survey closes at the end of September. It will take you less than a minute to complete so please get involved. Here it is.

If you missed the Spring edition of The Insider, it’s still free to download here.

Five things our most successful clients do when hiring

Blog - Five things our most successful clients do

Is your organisation struggling to hire the people it needs to progress? Do you think your recruitment process could improve?  Is it geared towards genuine talent attraction?

We have seen many organisations struggle to hire the people they want. We’ve also seen how a few simple changes can make recruitment processes much more successful so that you really do hire the best people. In our experience there are five key things that make recruitment a success – sign up below to get the full insight which will help you make a difference to your hiring.

  1. They make sure they understand the relevant talent pool and skills available at the salary grade in question
  2. Ensure everyone internally is on board, role signed off, stakeholders aligned, process planned, realistic time scales set
  3. Are clear about their go to market strategy and have invested in their talent attraction brand.
  4. Select a recruiter (external or internal) who has the market knowledge and network to source and engage relevant candidates.
  5. Make recruitment a priority to ensure good candidates aren’t lost through delays and poor expectation management.

In more detail, the best hiring companies…

  • Consider their employment proposition from a candidate’s point of view. What are the likely earnings and aspirations of an ideal candidate likely to be at their current employer? Are they offering the type of candidate they want a better package and career development? If not, they adjust the salary or the person specification. They understand the reality of the labour market for the skills needed and that if they want to source the best people who can make a difference they accept that top candidates are in short supply and do everything they can to sell their business to them. They understand they need to assess and excite the candidate at interview.
  • They accept that recruiting staff is a very costly exercise if they get it wrong. It is an essential part of any business and it pays to do it properly. They ensure it is seen as a key activity and not something that is last minute or at the end of the day. It needs to be prioritised and taken as an important activity that managers allow time for. They don’t treat it as an admin process. They champion recruitment and prioritise it at Executive level.
  • They consider what people outside their business really think of it and what the brand means in terms of career prospects and interesting work and more importantly as a place to work. They avoid the common mistake of thinking good candidates will apply anyway…they won’t. People inside the organisation may think it is a great place to work but ask why should an external person apply? What is their reputation? It is critical to find this out. Ensure that the person a candidate meets for their first interview has the gravitas to impress and motivate the candidate to take their interest further. It helps if the person is senior enough to give a real vision and understanding of the strategy of the business and the function. They don’t let a relatively junior team member do first interviews. Even a short meeting with a senior member of the function can make a significant difference to the perception given. They ensure that all the interviewers are briefed and understand what the business is looking for. They don’t assume every interviewer will know what is needed, they ensure it.
  • Pick a recruiter who is credible and really understands the specific market place and who will act as a brand ambassador. Ensure they will provide a credible message that will resonate with prospective candidates and can genuinely interest them. A poor recruiter will diminish a company’s perception in the candidate community and produce fewer candidates to consider.
  • They have a plan and stick to it. Recruitment often fails to deliver in time as most organisations don’t plan when each stage should happen or ensure all the interviewers are available. It is critical that the process runs smoothly.

The best hiring companies prioritise recruitment so interviews aren’t postponed and candidates feel that the role is important to the business. We have strong evidence that good candidates quickly become disengaged if there is a perception that the process is dragging and it also risks them getting snapped up by competitors.

They are absolutely realistic and clear from the beginning about the salary and benefits the business can offer. Too many organisations will give a salary range but are actually only able to offer at the lower end. This can be due to internal salary scales or for fear of causing problems internally if a higher figure is offered or out of budget. However this is a major and frequent mistake which can seriously mismanage candidate expectations and leads to many offer rejections. Candidates who have been approached about a role are highly unlikely to move unless there is at least a 10% increase in base salary and benefits. In a competitive market offering a small or no increase is highly unlikely to succeed unless the person has a compelling non monetary reason to move.