What should you be looking for in your procurement candidates?
The Chartered Institute of Procurement and Supply (CIPS) have launched their annual report, which draws some clear points both on the outlook for the profession and what recruiters are looking for in their candidates.
Here are some of the key take-aways from the UK report and how you can stay ahead of your competitors.
MCIPS is preferential
What is evident throughout the report is the importance of CIPS membership to both recruiters and employees. 66% of UK recruiters state a preference for MCIPS candidates proving that membership of the professional body is a decisive differentiator amongst candidates.
MCIPS is a mark of professionalism and performance, highlighting a candidate’s dedication to the profession. It’s also widely acknowledged that they add real value to an organisation. CIPS’ Measuring the Benefits report found that one of CIPS Corporate Award clients had increased efficiencies by 22% and training by 27% whilst reducing staff turnover by 45%. Therefore, it should be a consideration when you are hiring new procurement talent.
However, it is also integral to focus on how you can attract this talent to your roles. The UK Salary Guide found that professional body membership fees paid by the employer is a top benefit for those working in the Public or Charity/Not For Profit sectors. As such, you can incentivise these applicants by advertising that you will pay their membership fee.
Alternatively, the report also found that MCIPS can earn up to 15% more than their non-member colleagues in the UK and bonuses for FCIPS considerably out-weighed their counterparts seeing a 21.3% increase in the last year. So a higher salary or bonus potential would seem attractive to these professionals.
Key recruitment trends and challenges
56% of respondents said that they faced challenges in finding the right talent to fill their roles in the last year. Meanwhile, the number of recruiters looking to hire new talent in the next 12 months has increased by 5% on last year’s figure. This highlights that demand for skilled procurement talent is high and continues to grow, despite challenges in finding these candidates.
Recruiters are being faced with a number of road blocks when it comes to finding high-quality talent. Lack of sector skills and experience, candidate salary expectations and budget constraints continue to be the most cited concerns for employers in the UK with 56% stating that they are still searching for talent to help shape their business goals.