Procurement and supply chain management salary guide for 2018; Brexit, GDPR and diversity all playing a role in disrupting decisions.
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2017 was an interesting year for the London market, in particular the financial services, commerce and industry as well as professional services sectors. There have been fundamental changes in business decisions due to uncertainty surrounding Brexit, bringing ongoing political and economic challenges to companies and their recruitment processes and decisions.
There are numerous other factors impacting the employment market such as the GDPR and the changing face of the workforce. Companies are under more pressure than before to consider diversity in the workplace, which include generational aspects such as the aging population and millennial workforce - and how these can work in unison as well as the gender balance. Another factor is the ever increasing need for companies to improve efficiency and find and retain top talent and job seekers are under pressure to demonstrate value for money early on and make a positive impact on the bottom line.
Recognising these factors and other growing trends as a global recruitment specialist, Morgan McKinley UK has seen 2018 as an opportunity to expand our specialist services into the procurement discipline. After working with companies this year and realising the increased demand from companies to recruit supply chain and procurement professionals - we have created a specialist team to serve clients and job seekers from 2018 into the future.
Similar to the functions of finance and HR, organisations have required procurement functions to become more strategically aligned throughout 2017. This is evident by the majority of roles in 2017, approximately 30%, searching for individuals with experience as a specialist category lead combined with experience of working in a business partner function. This reflects the need for procurement to provide both niche business advice and partnership to designated business areas. We predict this trend continuing into 2018, especially as organisations embrace the need to reduce the cost of manpower and streamline operations to remain competitive.
IT category managers across the financial services market were in high demand throughout 2017 as the banking sector strive to ensure their IT solutions are offering a premium service to their customers, whilst remaining cost effective. The second half of 2017 saw an interesting trend of organisations increasing their need for category leads to be more technically minded, but also have the ability to effectively engage with the wider business to ensure new policies and regulations such as GDPR are implemented and adhered to.
A growing trend in the UK market is organisations requiring procurement professionals to exert influence over a wider sphere of business areas. This means that more emphasis has been placed in relationship management and communication skills. In this unpredictable market, organisations and senior stakeholders in particular are starting to see procurement as an integral “value-add” that drives commerciality to not only protect, but increase profitability.
As we look forward to 2018 and what is likely to remain economically uncertain, we do predict a confidence in hiring within the control and commerciality supply chain and procurement functions on an interim, contract and permanent basis.