Recruiting, retaining and developing staff is a key focus for procurement executives. The best talent can help a function improve its performance both in terms of savings and wider value delivery. This focus brings with it, however, a number of challenges.
Millennials, those born between 1981 and 1994, will comprise around half of the workforce in 2020, so procurement chiefs are focused on recruiting these younger individuals. Understanding and making the most of their passions, such as technology, can help tackle other challenges and improve the hiring and retention process.
Here are three ways technology can assist recruiting functions in fulfilling these aims:
Nearly 33% of new hires look for a new job within their first six months, according to research published by Impact Instruction Group.
High employee turnover can put both time and effort to waste while adding significant cost to the hiring process. It should be standard practice to collect information around why employees leave to identify any trends. Technology could be used here to provide a confidential forum in which those choosing to leave could give honest feedback.
Mobile apps provide an opportunity to help streamline the employee onboarding process. No one wants to be filling out seemingly endless paper forms when the information can easily be inputted into an app.
Such apps can also be used to host video introductions so new staff can familiarise themselves with their new role, as well as learn about both the team and the company.
Employee benefit schemes are a major draw for potential employees.
Indeed, 82% of job seekers would turn down a role if it lacked an attractive benefits package, according to research by recruitment firm Adecco.
While many organisations offer lots of benefits, employees often don’t know what they are entitled to because this information is hidden deep in a stack of papers handed to each new starter in their first day on the job. Putting those benefits on a portal or app, in which staff can easily access that information, will help people take advantage of them.
Technology has changed the way businesses operate. If procurement can use such tools – rather than fear them – the function is more likely to attract the best talent and set them up for future success.
Image: chainarong06 / Shutterstock.com
This article is a piece of independent writing by a member of Procurement Leaders’ content team.