It seems that in these days of wage stagnation in Australia, there are still certain professions that are managing to buck the trend, with members registering respectable earnings growth.
A new survey compiled by The Chartered Institute of Procurement & Supply (CIPS) in partnership with recruitment expert Hays Procurement has found that procurement talent is in demand more than ever before as a higher number of jobs are registered across public and private sectors.
The global survey covered more than 4000 procurement professionals, of which 323 responses came from the Australasia region.
Crucially, 66% of Australasia procurement professionals received a salary increase in the last 12 months (compared with 64% in the previous year’s survey) and 31% received a bonus in the last 12 months (compared with last year’s 43%).
With threats from possible tariffs on cross-border trading, rising inflation and falling sterling, procurement talent is in demand worldwide as a higher number of jobs are registered across public and private sectors. The value of MCIPS professionals translated into higher salaries.
53% of those surveyed reported that they struggled to recruit the right talent in procurement staff in the last 12 months, which showed an improved picture from 2016 where 76% of recruiters said they had difficulties.
77% of respondents agreed that procurement was highly regarded and valued in organisations, which was consistent with last year’s results. This is a sentiment felt by professionals at all levels, which is very positive for the state of the profession.
However, fewer feel that directors and heads of other departments understand what procurement specialists can offer, at only 64%.
Scott Dance, Director Hays Procurement & Supply Chain, commented: “One of the more interesting findings in the report is that 70% of managers expect to recruit in the next 12 months, up by 6% from last year, which is a positive reflection on the profession.
“But at the same time, 50% of employees plan to leave their jobs in the next two years and 71% want to progress to more senior roles. That’s quite a lot of movement in a short space of time and, with a shortage of talent, we need to address the gap this type of movement creates.”