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Procurement talent management
Exceptional outcomes require exceptional people
Top-performing procurement functions are evolving into service providers to the business. They help enable global capabilities and align with other enterprise areas in sourcing, savings, and risk management efforts. They perform source-to-pay integration and manage commodity volatility and broader risk with systematic performance tracking. Amid all this activity, something is still missing. Other than the imperative to secure executive buy-in, the individuals who perform these roles are rarely mentioned in these initiatives, instead being described generally as a team, unit, or function.
Driving to higher performance levels
Where does human capital—the talent—fit into a new and improved procurement area? By redefining the intersection of human capital and procurement, and recognizing that individuals do the work, it’s possible for organizations to change the dynamic following a four-step process:
1. Plan and design a procurement talent structure
2. Attract and orient new talent
3. Manage and develop the skills of existing talent
4. Retain talent
Through this process, companies can identify and cultivate exceptional people to drive both the procurement function and the broader business to higher performance levels.
Download the PDF to explore in detail this four-step process and actions you can take now to cultivate the ongoing ability to identify, provision, and deploy talent, wherever it may come from.
The path to a high-performing procurement function exists, and it’s clearer than many people might think. Talent that is nurtured, mentored, and invested-in can self-perpetuate. Talented, knowledgeable individuals can enjoy rich careers in procurement while the business benefits from their contributions.