Our latest research on ‘Breaking the skill-loss cycle in supply chain and procurement’ looks at the complexities of the supply chain and procurement (SC&P) functions and the increasing difficulty for professionals to keep up with the latest changes and technology. We surveyed over 400 junior and senior SC&P professionals and found a skill-loss cycle resulting from employees feeling challenged by the demands of their role which leads to them leaving their organization and employers struggling to fill the new skills gap in their team. Our research draws on the importance of training in both functions as part of the solution. Here we’ll share a sneak peek into a few key findings before the official launch of the report later this year.
The supply chain and procurement landscape
As the world becomes more interconnected, the SC&P landscape is more complex than ever. Many professionals are contending with various challenges, including raw material shortages, and adjusting to new technologies. Furthermore, the rising inflation cost, and high-pressure work keep companies from staying competitive.
Our research highlights that 98% of junior and senior SC&P professionals believe that significant issues are facing their functions. These issues range from maintaining supply resilience and continuity in the face of ongoing supply disruptions to continuing cost savings despite inflation and changes in commodity costs.
To maintain supply resilience and continuity, SC&P professionals must be proactive in identifying and preparing for potential disruptions and have strong relationships with suppliers to identify and resolve any issues that arise quickly. The need for skilled SC&P is essential, yet organizations struggle to retain employees, unlock their full potential, or attract new talent with the skills they need.
Impact of employee churn and benefits of training
Our latest research will cover an array of insights, particularly outlining the difficulty organizations are experiencing in retaining talent across their supply chain and procurement functions. In addition, we’ll delve into the causes and consequences of employee churn and explore how it’s impacting individuals at different seniority levels of the supply chain and procurement functions.
Considering the spread of issues professionals face in managing their roles, SC&P functions need to be filled by skilled and trained professionals. For more engaged and equipped staff, SC&P leaders should see training as an essential investment in their talent pipelines – not a luxury that can be turned on and off with no impact. We’ll explore the role of skills development in retaining employees and building sustainable organizations and look at training investment trends including where organizations should direct budgets for the best impact on employee and team performance.
Make sure you don’t miss out on the full findings so sign up here to be sent an exclusive copy of the report before it’s officially released.