Many businesses – even manufacturing companies – are allowing employees to work from home a couple of days a week; flexibility has emerged as one of the most important benefits to employees.
This greater appreciation of every cog within the P&SC function is likely to continue for the next few years as the sector adjusts to new ways of working and overcoming challenges wrought by the pandemic.
Public sector candidate shortage
In recruitment, public sector candidates have been hardest to find, causing strong demand, especially for procurement and senior procurement officers.
Other challenges include public sector companies placing restrictions on salary bandings and running themselves out of a fiercely competitive candidate-driven market as a result.
Aside from refreshing salary and benefits packages in line with the times, employers would do well to widen their search beyond industry-specific talent, and profit from a workforce with a multitude of transferable skills and experience.
Some of the key skills and experience employers are seeking include import/export, public sector procurement, production planning, internal/external stakeholder management and negotiation, experience of implementing/achieving a ‘greener’ supply chain and working towards the sustainable sourcing of materials.
Professionals unsure of a move should check their employer is keeping up with the market average salary for their job title. Ask for salary and progression reviews to see if there are opportunities on the horizon before applying for other jobs – it may be possible to achieve your aspirations by simply having a chat with a line manager.
It looks as though company headcounts will continue to increase across most divisions throughout 2023. That said, those looking to make a move only want to if it’s for better pay or a more senior role – sideways moves are drastically less common than pre-pandemic.
Across the board, businesses are having to up their game in order to attract and retain talent. These days a company’s benefits package is one of the first things people look for, along with flexibility, a market-rate salary, and a smooth, professional recruitment process.
Salary and benefits
Reed conducted a snap survey of 5,000 UK workers at the end of 2022. The questionnaire asked them about their current and preferred salary and benefits, their organisation’s performance and priorities, how they rated their job security and the future of their sector, and the key recruitment and skills trends they’re witnessing.
Over a half (53%) of workers surveyed are still happy with the salary they receive, although that does mean that around one-in-four (26%) professionals are unhappy with their current salary. Of those who believed their pay was adequate, 39% said it gave them enough for them to live comfortably, 35% stated they feel satisfied that the work they do is right for the salary they receive, and 34% believed it went well with their role.
On the other hand, the majority (61%) who were not satisfied with their salary pointed to the rising bills and inflation, by claiming they are unhappy due to their salary not rising alongside the cost of living. 39% stated that the industry they work in does not pay well, although over a third (36%) believe they could get paid more elsewhere.
Worryingly, for employers looking to retain staff, the survey found a large, £13,000 disparity between an employee’s current salary and their ideal, ‘comfortable’ salary; respondents, on average, are earning £35,400, but state to live comfortably they feel they would need to earn £49,300 per year.
With almost half (48%) feeling confident that they will achieve their comfortable salary at some point, those who wish to earn more may consider moving companies for a much higher wage.
Get the guide
For more information on salaries and benefits in the procurement and supply chain sector, download our free salary guide. This guide will give you all the tools you need to effectively benchmark salaries against your competitors, giving you the edge when it comes to recruiting in this challenging climate.