The procurement talent landscape has always been complex, and the last few years have accelerated the rate of change and amplified the impact on companies of all sizes.
First there was the pandemic, and the transition to working from home. This gave way to the Great Resignation, which saw people leaving their jobs in droves. Some exited the workforce altogether, others switched jobs or industries, and many decided to take the opportunity to dabble in entrepreneurship.
Now, with trouble looming on the economic horizon, the pendulum is starting to swing back in the other direction, and news of large scale layoffs is making people think twice about leaving a secure position.
In this episode, based on an Art of Procurement Live Session, Joe Payne, SVP of Source-to-Pay, and Jennifer Ulrich, VP of Advisory, from Corcentric answered a range of questions about these employment trends and how they are impacting procurement talent:
- the challenges created by the 59% of procurement professionals who told us that when faced with talent shortages they just “work harder”
- the opportunity that exists to leverage hybrid insource/outsource procurement delivery models – particularly at the strategic end of the hiring market
- how the combination of so much disruption in the overall employment market is expected to affect hiring managers and procurement organisations into next year.