In the previous blog we discussed the major gap between the skills required by organizations and the skills possessed by college graduates, the brewing talent crisis which is forecasted to get worst and the trend in talent deficit across the globe.
In this blog we will discuss what the organizations can do to attract and retain talent in procurement.
Before starting with recruitment, it is necessary to define what it takes to survive and excel in procurement today. A decade or more ago the answer to this would have been simple. To be in procurement one needed to be – analytical, good at negotiation, ethical and an interest in treating company’s money with respect.
This has however changed. Today a CPO would look for a lot more things like;
Thus talent acquisition and retention is a lot more different now. Below are the considerations for devising a talent management strategy that can meet the challenges of today’s time.
1. Define talent
2. Attract talent
3. Teach talent
In the next blog we will discuss the remaining 3 steps to manage talent.