Sustaining Your Talent Pipeline

In the presence of significant global uncertainty, organisations will have to rely heavily on the procurement function to expertly manage the 'extended enterprise' to ensure supply disruptions are avoided, costs are tightened and brand reputation is kept intact. For procurement, current conditions present an unprecedented opportunity to feature prominently in core business strategy. Containing accelerating input costs, doing more with less, managing volatile commodities and a rapidly consolidating cost base will be recognised as critical factors in riding out the downturn and is far more than an academic sourcing issue.

 

 

 

Praised for their ability to attract and retain talent, top performing organisations routinely acknowledge ‘people’ to be their only true form of sustainable competitive advantage. People capability issues such as recruitment, retention and softer skills development, are key contributing factors to successful procurement activities. A lack of succession planning remains one of the greatest risk exposures for many organisations, while embedding a strong values-based culture can be a significant source of competitive advantage, both in terms of staff engagement and overall productivity.

 

This Faculty Roundtable-commissioned study included quantitative and qualitative insights from a wide range of experts, including the Roundtable CPOs and their HR business partners, people management consultants and internationally respected recruitment specialists. A new model of best practice people management emerged from this study (as adjacent).

 

 

 

Attracting employees who will be motivated and engaged by the organisation’s unique value proposition remains the starting point for building a sustainable talent pipeline. While most contributors nominate ‘organisational fit’ as a critical recruitment consideration, most will also acknowledge they have a deeper understanding of their current and future suppliers of customers, than they do of their own employees. In addition to seeking roles which will provide them with a sense of purpose and contribution to overall organisational objectives, the perception of the manager as a valuable resource and mentor, was often a decisive factor, both for accepting a job and remaining in the role.

 

 

 

The most critical elements for sustaining a talent pipeline appear to be providing work that engages and motivates on a daily basis, delivering training that allows work to be done more effectively, encountering fresh challenges and interacting with people in an environment aligned to the values and issues employees care about most.

 

 

 

Every organisation, whether it is consciously cultivated or implicit in its approach to work, creates a unique culture based on a collective vision of what values and issues are most important. Communicating an honest and authentic vision of what it feels like to work in a company, and targeting this vision towards the types of employees who will be motivated by these values, is the framework upon which all other people management strategies hang.

 

For the full analysis, benchmarking and recommendations see the Sustaining Your Talent Pipeline Report. To request the full report, please email The Faculty.