The impact of Brexit and Trump on salaries and bonuses

The impact of Brexit and Trump on salaries and bonuses

We’ve just finished our research in to the impact of Brexit and Trump on salaries and bonuses in the Procurement and Spend Management Insider.

In addition, our report covers the executive job market in corporate procurement, consultancy, spend management, and supply chain finance.

So if you are planning growth, hiring now or curious about your own career prospects the Insider will help you get the information you need.

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The Procurement & Spend Management Market Update – Q3 2016

The Procurement & Spend Management Market Update – Q3 2016

Our Quarterly Market Update remains the leading commentary on the UK procurement job market and has evolved into a widely respected analysis of the European spend management sector.
Following our very well received Brexit special published back in July, the third quarter analysis includes:

  • Comments on the impact of Brexit on the procurement job market three months after our initial analysis

  • Some concerning developments in both the interim and permanent job markets for procurement.

  • Further updates on the skills shortages in the procurement technology solutions sector.

  • A potential over supply of candidates for leadership roles

  • Commentary on the Procurement Consulting job market along with new analysis of the Supply Chain Finance and Payment solutions sectors.

Also, this quarters discussion point is Where Are The Skills That Will Support Procurement’s Evolution?

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Five Things Our Most Successful Clients Do When Hiring

Five Things Our Most Successful Clients Do When Hiring

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 a 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.

Ongoing Requirements

We are always interested in working with high achieving procurement professionals in each of our specialist areas. Typical roles we recruit for include:

  • Procurement Leaders, CPO’s, Directors
  • Senior Managers across sourcing functions
  • Category Managers for all areas of indirect & direct spend
  • Procurement & Supply Chain Consultants – major transformation projects
  • Procurement Business Analysts
  • P2P Specialists – Ariba, Coupa etc
  • Interim Procurement & Category Managers

If you would like to talk to us about opportunities in the procurement market in an of these areas please register here.

The Procurement, Consulting & Spend Management Market Update – Q1 2016

The Procurement, Consulting & Spend Management Market Update – Q1 2016

Our latest quarterly analysis of the procurement, consulting and spend management job markets is now available for you to download. Over the past few years this report has become the definitive guide on what’s happening in the employment market for procurement and associated professions. The Q3 report from 2015 was featured on the Spend Matters website and received an excellent review. You can read more here – Spend Matters – The Latest On The Procurement Job Market

This quarters headlines include:

  • An update on developments in the procurement technology sector with a new section on the European market
  • Evidence of wide variations across the consulting market
  • Concerns about the impact of recent political and economic conditions on the job market
  • Thoughts on demand for interim resource in both the spend management and procurement markets
  • Questions about the impact of technology on the future of procurement skills and careers.

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