We often see a natural synergy between Procurement and Finance, with both functions contributing to the financial wellbeing of an organisation - albeit their areas of focus are distinct.
Over time, businesses have recognised the importance of aligning Procurement and Finance functions to achieve common business goals, optimise financial performance, and enhance resource management. This has led to increased collaboration and a recognition of the interdependencies between the two functions.
Following recent economic pressures and Supply Chain disruption, we have seen that it is more apparent than ever that the relationship between Procurement and Finance needs to be leveraged to its full extent to ensure business success.
We see collaborations between the functions, in terms of shared skills and qualities required for success in both roles. By recognising these shared competencies, organisations can create a cohesive and efficient team that collaborates effectively to drive financial performance and Procurement success.
For the most successful organisations, Procurement is no longer seen as a branch of Finance, but a genuine business partner and critical heart of Finance-related decisions.
Would you be interested in an event focusing on how Procurement and Finance functions can adapt and grow together for the future? Please reach out to Sasha Gill, Senior Consultant, to share your thoughts: email@example.com
“The recent Surgeon General report on Mental Health and Well-being reports 81% of workers say they will be looking for workplaces that support mental health in the future.”
Leaders are discussing how they can be deemed an employer of choice in the market, while taking into consideration the growing demand for a hybrid working model and promoting the importance of wellbeing to all, as we establish and adapt to post-pandemic working life.
Post-COVID life has taught many of us how to adapt amid chaos; to change the way we think about our working environment and to re-evaluate what employees value most throughout their careers.
Some believe a shift towards a hybrid working environment - with a focus on mental health and wellbeing, as a staple to the typical compensation & benefits offered - is well overdue and that COVID-19 accelerated the speed for this change, leaving companies unnerved with an increased demand for the new way of working.
Many enjoy the flexibility of working from home and the time saved by not commuting, while others have felt isolated and find it difficult to focus when alone, without peers in their office environment. Supporting hybrid working employees is what businesses are finding most challenging.
“WFH was not particularly prevalent in the euro area before the onset of the pandemic in March 2020. According to Eurostat data, 85% of employees had never worked from home in 2019, a small decrease from 92% in 2000. The COVID-19 shock led to a sudden increase in demand for WFH policies that would allow the majority of employees to work from home at least once per week.”
The workforce has spoken and continues to say that working an odd day from home is no longer a perk of the job, but is indispensable. Where some companies were reactive in putting measures in place for colleagues to work from home, it is now considered the new normal - not an exception.
Some businesses, however, continue to request that colleagues work in their office environment full time, which now begins to feel redundant given the current market.
What are the benefits to working from home?
Of course, there are benefits to working in the office:
In light of the above, it is worth asking the question: How do we create an environment for all, so all feel welcomed and comfortable to work from home if they choose to, as well as work in the office, while ensuring engagement and productivity remain high?
Equally, gone are the days where employees worked relentlessly and tirelessly to get the job done. Candidates, especially, are on the lookout for companies that are creating workplaces that value mental health and wellbeing, and are setting boundaries for themselves, to ensure their work-life balance remains intact throughout their career.
Does your business promote a flexible working environment that candidates are looking for?
Do you stand out in the market as an employer of choice?
If you would like to explore any of these topics in more detail, please reach out to Katie Insley, Associate Director in our HR recruitment team, for a confidential discussion: firstname.lastname@example.org
After a buoyant start to the calendar year - and advising on how to successfully hire in an evolving and competitive market in our last newsletter - it seems topical to focus on how to attract and engage top talent.
The competition for talent will likely remain fierce this quarter, as – in addition to attrition – annual budgets are approved, and more companies will be seeking additional talent to support their growth and initiatives.
Of course, it’s important to consider a competitive salary, the working environment, career progression, Environmental, Social and Governance (ESG) initiatives, and recruitment timeframes for the candidate journey.
But how can you find suitable candidates in the first place? What can companies do to encourage candidate engagement? What should candidates be doing to find the best opportunities?
We’re noticing that – typically – the best candidates are not applying for jobs directly.
It is often quoted that men apply for a job when they meet only 60% of the role requirements, whereas women apply only if they meet 100%.
This can also be applied per discipline, with skills insights suggesting that Finance & Accounting professionals are more likely to apply for a role if they meet 100% of the criteria. This, coupled with a market where candidates are in demand and regularly approved, means that candidates with this skillset are much less likely to apply for suitable roles.
With that in mind, how do candidates filter through the noise of job opportunities to find the right role for them? How can employers best present themselves to as wide and diverse an audience as possible?
This is where partnering with EMEA Recruitment can really add value.
Attract candidates through networking & referrals
With such competition for candidates in the market, networking and referrals are fast becoming the best way to attract and engage with top talent.
With 15 years’ experience in the Dutch market and an ever-growing network, we are actively speaking to and engage with Finance & Accounting professionals – all day, every day. This focus allows us to understand individual requirements (personal and professional), and to proactively connect people and opportunities by providing colour for candidates on the company, team and role.
Use inclusive language
Did you know that the words you use are also important? We are mindful to consider the wording of job advertisements to keep them as open and attractive to as wide and diverse a talent pool as possible, and not draw on unconscious biases that could exclude certain candidates.
We also have a library of Executive Interviews with senior leaders to five insight to the people and leadership behind the brand – this is a great way to showcase a company and give tangible insights to attract top talent.
For candidates, being open to conversations on what is available is a big thing – timing might not always be right, however, how do you know what you are doing is the best thing for you if you don’t know what else it out there?
Our podcast series, sharing learnings from senior leaders, often talks about making the most of opportunities; the journey doesn’t always go the way it was planned.
To discover how we can help you, whether you are looking for talent or open to opportunities (or perhaps both!), please contact Georgia Wright, Associate Director, for a confidential chat: email@example.com
Keely Straw, Manager of Human Resources, shares knowledge on how you could improve your employee lifecycle, and her experience hosting EMEA Recruitment’s first face-to-face ED&I Roundtable event...
In my Q3 2022 newsletter, I shared insights on the future of work and what that means for Equity, Diversity & Inclusion (ED&I).
By making small changes throughout the employee lifecycle to accommodate a diverse workforce, organisations can improve employee experiences and boost engagement at every stage of the employee lifecycle:
1. Attraction - Brand reputation improves from employee, customer and stakeholder perspectives
2. Recruitment – Providing inclusive candidate journeys creates equal opportunities and allows organisations to draw from a wider talent pool
3. Onboarding – Demonstrating inclusive practices sets a first impression that encourages trust and loyalty
4. Development - Productivity improves, because data shows that employees with disabilities take less time off and stay with companies for longer
5. Retention – Turnover rates drop when everyone feels included and valued
6. Offboarding – Gathering employee feedback helps provide data and insights that can be used to improve ED&I policies further
Through my ED&I and HR networks, I have heard that many companies are already doing this and leading the way to make positive changes; they are eager to create a culture that is inclusive for everyone, regardless. Others are only just starting this journey.
While there is plenty of information available online, at virtual online events and shared across social media, there isn’t anything local to Switzerland for ED&I leads to come together to share topics and success stories.
That is why, this month, I hosted EMEA Recruitment’s first face-to-face ED&I Roundtable event in Zurich.
This was an opportunity for ED&I leads - from multiple industry sectors and size - to come together, share insights on ED&I strategies and how to implement one, as well as other topics.
I would be keen to understand if you would be interested in future roundtable events, either dedicated to ED&I or broader HR topics. In addition, I would welcome the opportunity to hear how diverse your employee lifecycle is and how this compares with the general market consensus.
Please feel free to contact me directly to see how we can support you: firstname.lastname@example.org
When should the line manager be involved in interviewing a candidate? We took to LinkedIn to hear your thoughts...
At EMEA Recruitment, we firmly believe there is never an exact right or wrong way for a business to run a hiring process – every role, organisation and circumstance are different, and can be affected by a multitude of factors at any time.
Although, of course, there are certain elements that are essential for a successful recruitment process, most notably that of the relationship that is built between the candidate and the hiring manager.
Neil Cope, one of our Directors, recently conducted a LinkedIn poll exploring this, to provide a snapshot from our network. In response to the question: Which stages do you prefer to see the direct line manager involved during the interview process?, we found that over 90% of respondents feel that the line manager should be present either at every interview stage or at least on the first and last interview stage (8% noted that the first stage only is sufficient).
This highlighted to us how important that relationship build is for both candidates and employers alike. But how do you make this work in practice? Some processes have three, four or even five interview stages, depending on the seniority and complexity of the role. Is it practical for a hiring manager to be present at each stage? Indeed, in some cases, could it not hinder the process? If, for example, one of the stages was with an important stakeholder who might benefit from having that one-to-one conversation with the candidate without the hiring manager present.
One thing is for sure – the relationship with the prospective hiring manager is an absolutely vital element and is one of the top factors for candidates when choosing whether to accept an opportunity or not.
If you would like further information on this or the hiring process in general, please reach out to Neil: email@example.com
As we move into a candidate-led market, having one of the busiest summers we have seen, EMEA Recruitment would like to share some experiences on how to avoid losing top talent for your business.
We recently conducted the following poll on LinkedIn, asking our Dutch network whether they would take steps to speed up the recruitment process, if this meant you’d be more likely to secure top talent. The results were as follows:
Would you speed up the recruitment process to hire the best candidates?
The majority of respondents said that they would try to remove bottlenecks in order to hire top talent. Another 22% would use technology to speed up the process, while just 10% said they wouldn’t change their hiring methods and 8% didn’t feel their company would allow faster recruitment.
So, how can we ensure we can hire top talent?
If these challenges sound familiar, we would be happy to discuss our experience and offer advice on how to streamline your recruitment procedure, in order to attract and secure top talent for your team.
Almost overnight, the COVID-19 pandemic transformed the work experience for millions of people across the globe.
For Human Resources (HR), the impact has been huge. Rarely has the spotlight shone so brightly on this function, and many have felt the strain as they do their best to support their employees through this incredibly difficult time.
In particular, the huge rise in remote working has exposed flaws in many employers’ benefits packages, and benefits and wellbeing management systems.
It is important to remember that such dramatic workplace changes, such as remote home working, undertaken for sustained periods, can be both isolating and not suitable for employees accustomed to coming into an office every day. So, the need to link remote working employees and look after their wellbeing has never been greater.
Flexible working is a theme that’s gained a lot of traction in recent years, but ultimately simply refers to a way of working to suit an employee’s needs. This can mean making adjustments to start and finish times, to allow an employee time to drop off/pick up a child from school, or even working from home where necessary.
This simple gesture can improve an employee’s loyalty to their employer, can make them feel more motivated and can also start to tackle some Diversity issues: with almost no geographical restriction, there will be a bigger pool of candidates to consider, it is a better option for working parents, and will benefit candidates with physical or mental disabilities.
Employers need to recognise there will be no return to ‘business as usual’ for the foreseeable future and, instead, they need to adapt to the ‘new normal’. They must ensure their employees’ changing needs are supported, no matter where they’re based.
Employees have been forced to cope with unprecedented change, but this can also be a unifying experience that helps build trust and loyalty between employers and their workers, and this must continue to be nurtured.
The current crisis has also highlighted the fragility of many employers’ existing employee benefits systems, many of which weren’t designed to be accessed or managed remotely. Employers without digital solutions that are fit for the future of work will find it increasingly difficult to cope with the demands.
Overall, it's important that, during this testing time, HR will focus on ensuring the working wellbeing of its people to ensure that they are fit for purpose in the ‘new normal’. This will sustain your competitive advantage and establish your credentials as a responsible employer.
We understand the unique challenges of Human Resources recruitment. If you require support with your HR recruitment needs, please contact Keely Straw to arrange a call on: +41 41 588 1876 or email: firstname.lastname@example.org