THE FACULTY QUARTERLY
MARCH 2016

A surprise finding in The Faculty’s 2015 Benchmarking Research is that leading Australian organisations are investing less in capability and training. On average, businesses spent $2,455 per FTE in 2015, down from $3,500 in 2011. 

The Faculty’s Managing Director and highly experienced trainer Keith Bird says that spending less in developing your procurement team will inevitably lead to a drop in performance. “We know CPOs are under constant pressure to cut costs, but lowering investment in your team’s capability is a false economy. Investing in your team gives them the critical skillset to save your organisation significantly more over time than the cost of the training itself.”  

Over the past ten years, experts from The Faculty including Keith have trained over 9000 people, delivering a series of programs covering the gamut of procurement activities and catering for entry-level professionals through to senior procurement managers.

Combining theory, practical exercises and networking, this series of face-to-face workshops has had a demonstrable impact on the capability and critical competencies required for success in the region’s leading organisations. 

Importantly, our training program extends beyond procurement teams to include Operations team members. As every CPO knows, sending out written communications and giving one-off briefings on new contracts will not ensure your hard-earned savings are delivered to the bottom line. The people who work at the coal-face need to be 100% committed to rolling out new contracts. They need to understand what to do, and why they are doing it – and this is where The Faculty can make a real difference through tailored and targeted operational training.

The Faculty is currently talking to major Australian companies about extending the reach of our face-to-face programs by also offering condensed versions of the training on-line. Including eLearning as a component in your overall training program will provide companies with the following benefits: 

Increased reach – because eLearning is available 24/7 online, it means all of your stakeholders can access information anywhere, anytime. 

Accelerated behaviour change – the opportunity to preview and review information before and after face-to-face training means that there is a higher likelihood that critical information is absorbed and adopted. 

No excuses! – having information readily available in bite-sized chunks means there are no excuses for not knowing the correct process! 

Cost-conscious – committing your training programs to an electronic format means that material can be shared and viewed over and over again. 

Sets the standard – because your internal training team controls the eLearning content and delivery, you can guarantee that at least one element of your training program “ticks all the boxes” and is not open to interpretation by the trainer.

To discuss our face-to-face and eLearning training programs, call The Faculty on +61 9654 4900, email enquiries@thefaculty.com.au, or visit http://www.thefaculty.com.au/capability-and-training to learn more.

[Photo credit: theamericangenius.com]