Talent Management Strategies for Procurement Professionals in Global

Talent Management Strategies for Procurement Professionals in Global Organization: Denise Bailey Clark University of Maryland University College Doctor of Management Program

Attraction Drivers for Top Performing Employees Employers Employees 1. Challenging work Job Security 2. Career Dev. Opportunities Base Pay 3. Org. Mission, Values, Vision Career Development 4. Base Pay Promotion Opportunity 5. Org. Financials Health Care Benefits Source: Towers Watson 2011 Talent Management and Rewards Survey

NEW BUSINESS AND JOBS MARKETS FOR PROCUREMENT PROFESSIONALS A survey that included 170 Chief Procurement Officers (CPO) and other procurement executives worldwide. • 72% Represented organizations with $1. 388 billion volume of business • 30% Represented a volume of more than $6. 6943 billion volume of business Agreed that: • There is an increased in the need for qualified procurement professionals. • These professionals will have an increased influence on procurement in decision-making.

Most Promising Latin American Job Market Opportunities Country Ranking 2008 Ranking 2013 1 Chile 54. 8 57. 2 2 Mexico 52. 2 55. 9 3 Brazil 51. 8 52. 8 4 Costa Rica 49. 6 50. 1 5 6 7 8 9 10 Argentina Peru Venezuela Colombia Dominican Rep. Ecuador 48. 5 38. 0 41. 4 35. 9 28. 6 29. 9 44. 7 39. 8 38. 6 36. 9 29. 2 28. 2 Overall rankings showing movement between 2008 and 2013 for each of the measured ten countries Source: Hedrick and Struggles Talent Index 2012.

Unique Employment Challenges • Understanding Country Standards such as, hiring requirements including withholding and remitting taxes, ensuring employee, employee’s contracts, compensation, benefits and job descriptions and termination practices are in place. • For example, a number of countries have to follow the 183 -day rule (Lammey, Rupar, and Vincent, 2011). This is the number of days a person can work in the country under a temporary visa before having to apply for a permanent work visa.

Talent Management Strategies for the Procurement Professional Organizational Level ü ü Employer of Choice Workforce Planning Talent Acquisition Professional Development Opportunities/Manager/Employee Coaching ü Performance Management Guidance ü Succession Planning Community of Professionals Level ü Credentialing ü Professional Development Standards Individual Level ü Professional Development ü Performance Management ü Credentialing

Talent Management Strategies for Procurement Professionals in Global Organization: Employer of Choice As a tool for attraction Succession Planning Performance Management Workforce Planning Professional Development Credentialing Talent Acquisition Manager/Employee Coaching Talent Sustainability

Example: Talent Management Strategies Public Procurement Professional Competencies (DOD) • Defining the step in the acquisition process • Translating complex contract language • Recognizing potential conflicts of interest • A thorough knowledge of Federal Acquisition Regulations (FAR) • Negotiating complex contracts • Adhere to ethics, compliance and enforcement • A certification that requires 80 hours of continuous learning every two years (DOD) • Understand full and open competition, standards of service, best value and trade off selection. Sources: Department of Defense (DOD) Defense acquisition workforce improvement strategy.

Procurement Talent Management Model Global Employer of Choice §Professional Procurement Affiliations §Reputation §Employee Support §Global Leader • Procurement Professionals Fulltime/ Part-time • Contingent Workers • Contractors • Locations • High potential procurement employees • High impact procurement assignments • Executive Coaching by High level Procurement Professionals Strategic Workforc e Planning • Competitive Total Rewards • Compensation and Benefits based on procurement goals Profession al Developme nt Procurement Talent Management Successi on Planning Talent Acquisiti on Performance Management • Procurement Competencies • Cultural Intelligence • Country Knowledge • Cultural Consultants Technical Knowledge • Specialized Procurement Recruiters • Social Networks • Search Firms • Performance Guidance • Coaching • Professional Development

Talent Management Strategies Denise Bailey Clark, SPHR, M. A. Associate Vice President, Human Resources College of Southern Maryland deniseclark 3@verizon. net