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YEAR TO DATE
This is what we have seen so far this year:
Permanent market recruitment activity seems to have picked up in the first 3 months of 2024.
Interim market activity appeared static for the first 2 months of 2024 (perhaps due to the financial year for some companies running April to March); although we are beginning to see an uptick as we progress through the month; with an increase in new starters this week and next.
The Financial Services sector has been leading activity, followed by Utilities, taking on both Interim and Permanent people, principally in mid-level category manager roles.
Interim activity in the public sector seems quiet, with a lot of PS people looking; vacancy availability would appear to remain restricted by long-term public-sector spending cuts.
Over 80% of interim roles are still engaged on an inside IR35 basis; and even with new legislation coming in to force from April, we do not see this changing.
Speed of the Recruitment Process is still critical to securing good people. For certain categories, candidates are receiving multiple offers, and we have seen some recruitment campaigns flounder when internal recruitment process is slow or ineffective.
Many Internal Recruitment Teams are still struggling to find candidates with suitable experience and specialist category skills. Many specialist procurement and vendor management skills remain hard to find and secure, and these subtleties are frequently unidentified or misunderstood by some generalist recruiters.
Overall Salaries for most Procurement and Vendor Management specialists are increasing, but not as rapidly as we saw in 2022 and 2023; and are largely mirroring UK across the board salary increases, as interest rates have fallen, and UK economic growth has remained suppressed. However, certain ‘hard to find’ specialist category skills, will secure higher than market rates (see our latest Salary Guide for more information)
We have seen increased demand for senior level Procurement & Vendor Management Professionals in 2024, including recently, 2 Head of Procurement mandates, a Deputy CPO, and several senior level Category Manager roles in the IT and HR spaces.
As well as senior level hires, most in demand categories are IT (all areas), Professional Services and HR (although the success of many employer’s campaigns have been mixed).
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Senior Consultants Karen, Craig and Jane, would like to take the opportunity to share their experience of what makes a successful recruitment campaign, as they outline 3 recruitment challenges, they resolved for their clients:
Building a Brand-New Team for a Leading Global Investment Firm
The challenge: New CPO building a brand-new team ~ needed expert support to secure the very best people. Seeking 3 new high-performing procurement specialists for: Software Category Manager, Hardware Category Manager and Procurement Analyst roles.
The Solution: 9 excellent candidates identified from our network and targeted head-hunting activities; interviewed assessed and submitted to the client. The client interviewed 7 candidates; 3 were offered and all 3 accepted. The process took 6 weeks, but Xmas and NY holidays slowed the timeline.
WHY WAS IT SUCCESFUL: “Comprehensive understanding of both technical and soft skills required ~ facilitated by excellent communication channels, comprehensive job briefs; flexibility to change and ability to offer alternative solutions, commitment and trust, and keeping everyone informed, managing candidate expectations and timelines, where we can”, says Jane
Jane Wallbank, Senior Recruitment Consultant: Jane has over 10 years + specialist Procurement & Vendor Management Recruitment experience, and extensive specialist recruitment experience previously, including running a successful recruitment team
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Securing Hard-to-Find Spec.ialist Procurement Talent for a Global Technology / Media PLC
The Challenge: Requirement for two senior level Procurement Manager’s with very specific category experience on a global level, including a (1) Senior Procurement Manager - Software and (2) Senior Procurement Manager - Corporate Services; the client had been sourcing the roles internally and externally, unsuccessfully for a few weeks, prior coming to us.
The Solution:
Role 1: Five suitable candidates identified from our network and targeted head-hunting activities, assessed and submitted within 5 working days. 3 candidates interviewed and 1 candidate successful, through a 3-stage interview process. The candidate was offered and accepted.
Role 2: Two suitable candidates identified from our network and head-hunting activity, assessed and submitted within 5 working days. 1 candidate interviewed through a 3-stage interview process. The candidate offered and accepted, 5 weeks from start to finish due to client interview process and hiring manager availability.
WHY WAS IT SUCCESFUL: “A clear role profile and candidate brief, understanding my client and it’s procurement team; and a comprehensive understanding of availability of a strong pipeline of candidates in my network; and speed accuracy and feedback, says Craig."
Craig Gallagher, Senior Recruitment Consultant: Craig has over 16 years specialist Procurement & Vendor Management Recruitment experience.
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Growing an Internal Team for a world-renowned Educational Institute
The Challenge: Growth within the team. 3 new roles; Purchasing Manager, Senior Purchasing Manager and Deputy Director of Purchasing. Direct advertising for 1 month unsuccessful, prior to engaging with us.
The Solution: 10 suitable candidates identified for the 3 roles, utilising Beaumont Select Network, head-hunting activities and targeted advertising. 8 candidates interviewed, 3 candidates offered; and 3 candidates accepted.
WHY WAS IT SUCCESFUL: “Caring about my clients and candidate’s needs, understanding my client’s team fit, keeping people up to date, a comprehensive recruitment and client brief and lots of experience!”
Karen Laker, Senior Recruitment Consultant: Karen has over 15 years specialist Procurement & Vendor Management Recruitment experience, and extensive customer and client support experience previously.
If you would like more information about Interim or Permanent Recruitment Solutions for Procurement, Supply Chain and Vendor Management disciplines, please call:
T: +44 (0)1403 248 448
E: info@beselect.co.uk
The Beaumont Select Recruitment Team
Meet Our Team of Procurement Recruitment Specialists at Beaumont Select
Beaumont Select Market Bulletin, March 2024
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