Attracting and nurturing talent in procurement is crucial for maintaining a competitive edge. The sector faces talent shortages and the need for continuous upskilling, requiring comprehensive strategies such as apprenticeship programs, educational partnerships, internal career development, work-life balance, competitive compensation, and strong company branding.
Apprenticeship Programs and Educational Partnerships
One effective approach is to implement apprenticeship programs and establish partnerships with educational institutions. These initiatives offer hands-on experience and practical skills development, providing students with a clear pathway into the procurement ecosystem. By collaborating with universities and colleges, companies can create tailored programs that align with industry needs, equipping students with the necessary knowledge and skills.
Work-Life Balance and Competitive Compensation
While apprenticeship programs and educational partnerships are essential, they only address part of the equation. Young talent is also deeply concerned with salary and quality of life. Studies have found that the top three attractors for talent across industries are compensation (cited by 50% of survey respondents), location (35%), and work-life balance (34%). Therefore, businesses must offer competitive compensation packages that reflect industry standards and recognize employees’ contributions. Providing additional benefits such as healthcare, retirement plans, and paid time off can further enhance the overall employee experience.
Addressing Talent Shortages and Upskilling
Procurement is experiencing a talent shortage, with demand for skilled professionals outpacing supply. Companies must focus on upskilling their existing workforce, offering targeted training programs in data analytics, supply chain management, and negotiation skills. Upskilling should be complemented by reskilling initiatives to prepare employees for emerging technologies and industry disruptions. Encouraging employees to embrace digital tools and automation improves efficiency and productivity. Promoting a culture of lifelong learning ensures employees remain adaptable and resilient in the face of change.
Building a Strong Company Brand
Building a strong company brand is instrumental in attracting top talent. Companies should actively promote their culture, values, and achievements through various channels, including social media, industry events, and employee testimonials. Highlighting success stories and showcasing opportunities for growth and development can attract individuals who align with the company’s vision and goals. Additionally, enhancing the prestige of the procurement department within the organisation can make it a more attractive career choice. Prioritising character and virtue during the recruitment process can be beneficial, as technical skills can be taught more easily than inherent qualities.
Future Outlook
Unlocking hidden talent in APAC’s procurement requires a multifaceted approach combining education, career development, upskilling, and a supportive work environment. Investing in apprenticeship programs, forming educational partnerships, creating clear career pathways, and addressing talent shortages help build a robust and resilient workforce. Prioritising work-life balance, competitive compensation, and a strong company brand strengthens the organisation’s ability to attract and retain top talent. In a rapidly evolving industry, these strategies are essential for long-term success and sustained growth.
Note:
This article is part of an ongoing series exploring trends in the APAC procurement sector. Next, we’ll explore how ESG initiatives are transforming procurement. Can’t wait? Download the entire series as a report here.
About the Author:
Ben McDonald is a Co-Founder and Partner at Connexus Global. With a 20-year track record in recruitment, particularly in Supply Chain & Logistics, Ben partners with clients to secure top talent, driving their success in the Asia-Pacific region.
About Connexus Global:
Connexus Global is a specialised recruitment firm operating in Singapore, Bangkok, London, and Austin, focusing on the industrial, consumer markets, commodity trading, and renewable energy sectors.
