What does it take to succeed in the modern procurement and supply profession? How long have you got?! One crucial element, which comes through strongly in this year’s CIPS Procurement & Supply Salary Guide 2024, in partnership with Hays, is a commitment to personal and professional development – and the right blend of technical and soft skills.
And it appears that people with MCIPS have the blend of skills that are not only valued now but will be valued in years to come.
In a changing job market, the knowledge and expertise gained by achieving the MCIPS designation carry both short-term and long-term benefits.
When looking for a job, those with MCIPS at leading level can expect to outcompete those without MCIPS – and indeed earn more. In the UK alone, those at leading level earn on average 20.5% more than those without MCIPS. While at the employer end, more than half (54%) of employers globally say they prefer candidates either with MCIPS or those who are studying towards it. The proportion rises to 56% for employers looking for MCIPS-designated professionals at an influencing or leading level. The long-term picture is similarly bright: demand for recognised procurement qualifications is rising among employers.
As the latest salary guide highlights, demand for soft skills such as communication, stakeholder management and supplier relationship management are growing. But so is the need for technical skills such as negotiation and sourcing. As the professional designation for procurement and supply, MCIPS evidences capability in all these key areas, and the additional Chartered status shows that you’re committed to lifelong learning. And, as this year’s salary guide shows, procurement and supply professionals will need to update their knowledge and skills constantly to cope with the future pressures posed by technology and a fast-changing world.
Here are just two examples from the global CIPS community of how achieving MCIPS can transform your career. There are many more such stories…
“The knowledge I’ve gained from MCIPS has enabled me to develop a five-year strategy in strategic sourcing,” says Salman Ahmad, senior sourcing manager for materials manufacturer Avient Corporation in Pakistan.
Goutam Sharma, senior supply chain and logistics manager for Emirates, has similarly positive things to say about the designation. “MCIPS is a globally recognised standard of excellence, and achieving it was a natural step towards advancing my professional development,” he says. He adds that MCIPS has opened the door for his career progression, as most organisations in UAE – where he’s based – prefer candidates for senior management positions in procurement who have completed MCIPS.
The learning that goes into achieving MCIPS can also help with embedding an equality, diversity and inclusion mindset. According to our salary guide, people with MCIPS are more aware of the need for diverse and inclusive hiring practices. For organisations looking to develop or improve such practices, the imperative for hiring those with MCIPS grows.
Achieving MCIPS also offers a grounding in sustainability and ethical practice. With climate worries rising and ethical concerns front of mind for procurement and supply professionals, this knowledge and these skills will be even more important in future.
In a sign of things to come, roughly two-thirds (64%) of procurement and supply professionals across the UK expect organisations to value MCIPS and procurement qualifications more highly over the course of the next decade. This is in line with the improving perception of procurement and supply as a function: almost two-thirds (65%) of respondents to our salary guide say the perception of procurement within their organisation has improved over the past year.
With demand for procurement qualifications growing and the scramble for talent set to intensify further, achieving MCIPS appears to be a real career-enhancer. As senior sourcing manager Justyna Philip MCIPS says: “I’ve experienced first-hand the significant advantages that come with MCIPS. MCIPS not only enhances earning potential and career progression but opens doors to opportunities that are often inaccessible without it.”