Procurement and supply is a profession on the up. Almost two-thirds (65%) of UK respondents to the CIPS Procurement & Supply Salary Guide 2024, in partnership with Hays, say that the perception of procurement within their organisation has improved over the last year (vs 63% in 2023).
For many, a career in procurement and supply is an opportunity to effect change within their organisation and make a positive difference to the world. Some 74% of respondents agreed that a career in procurement and supply can enable positive social change.
Despite the appeal of procurement and supply as a profession, employers still find themselves facing serious talent challenges.
It’s important to explore these challenges – for employees and employers.
Technical skills in high demand
Globally, 58% of those responsible for hiring procurement and supply professionals say they have struggled to find the right talent over the last 12 months.
The “talent gap” is widest in Australia and New Zealand, where 79% of respondents experienced difficulties in hiring in the last year. This suggests that for the right candidate with the right skills, there will be many opportunities available in the region.
Only 39% of respondents in Sub-Saharan Africa have experienced such difficulties with hiring.
The biggest challenge employers face is around a lack of technical skills or evidence of formal procurement training. This is the only factor to feature in the top five challenges across every region covered by this research and is the biggest challenge facing employers in the MENA region.
Another common challenge is a lack of sector skills and experience, which was a top-five challenge in all but Sub-Saharan Africa, and the biggest challenge for employers in South Africa.
In this environment, MCIPS looks set to become more valuable than ever.
How MCIPS can help you get ahead of the competition
Talented and self-motivated procurement and supply professionals are in high demand. Having MCIPS demonstrates your expertise and technical excellence to employers.
It shows that you’re dedicated to your career, to ethical standards of practice, and to operating with integrity.
In a competitive jobs market, having MCIPS will boost your value. Did you know, for example, that more than half (54%) of employers globally say that they prefer candidates either with MCIPS or who are studying towards it?
And finally, MCIPS can boost your earnings.
The skills to succeed
Negotiation skills are ranked most important for the profession, but so too are soft skills. Supplier relationship management, communication and internal stakeholder management skills all rank high in our survey.
The talent challenge looks set to intensify over the coming years.
Only 34% of those responsible for recruitment and training in the UK expect to increase the size of their procurement team over the next 12 months, down from 41% last year.
With fewer jobs on offer, candidates who have invested in their professional development, technical capabilities and all-round business skills will be best placed for career development.
Want to find out more about how MCIPS can help you stand out from the crowd? Click here.