Procurement & Finance in Partnership

By EMEA Recruitment
15 September, 2023
Procurement & Finance in Partnership

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 jobs are 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 protected]

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HR Recruitment 2024: Organisational Culture and Transformations

HR Recruitment 2024: Organisational Culture and Transformations

In Keely Straw's previous article, she delved into Organisational Culture & Recruitment Excellence, including the importance of fostering a strong and positive organisational culture. Such approaches not only contribute to employee satisfaction and retention but also serve as a crucial factor in attracting top-tier talent. This notion remains at the forefront of HR recruitment discussions looking ahead into the year.

Building on this theme, in March 2024 we hosted a successful networking event in Basel, bringing together local HR professionals to discuss and address current challenges within the current landscape.

The event served as a platform for meaningful conversations on both a professional and personal level, with guests exchanging insights and experiences, many of which further emphasised the importance of nurturing a positive working environment to attract and retain talent. It became evident that the predominant topics of discussion revolved around Organisational Culture & Transformations, as attendees delved into the nuances of shifting mindsets towards novel work methodologies, particularly emphasising the significance of hybrid working.

We received overwhelmingly positive feedback from guests. If this mail was forwarded to you, do please get in touch, as we will inevitably hold more events in key cities and would be happy to have you join us to network with your peers.

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The Impact of AI in HR: Challenges & Opportunities

The Impact of AI in HR: Challenges & Opportunities

Each quarter, we ask our HR-specialist network which topics are front-of-mind and will be of value to explore. At present, unsurprisingly, the No.1 topic cited is AI; more specifically how it is likely to impact HR departments and the wider organisations they are part of.

Implementing AI may mean that fewer people will be required to complete the same volume of work, of that organisations need to redesign disrupted roles – a potential positive where the roles created encompass a broader range of tasks, offering more stimulating work and a more compelling employee value proposition. New, highly specialised jobs will emerge, requiring a blend of business and technological acumen. Additionally, performance expectations will increase and organisations that are slow to adopt this approach risk losing out to the competition.

As AI impacts how employees interact with HR teams and the technologies they use, a shift in the structure of HR departments and roles becomes likely.

It is expected that generative AI will improve efficiency in HR and, in turn, employee experience, though in parallel HR teams will need to consider potential pitfalls relating to data accuracy and privacy.

Most businesses we engage with are taking the first tentative steps in leveraging AI at an organisational level and are still looking to understand what impacts will result, for their workforce, their talent strategy and the HR function generally. Whilst there’s no need for alarm, the field is evolving rapidly so it’s worth considering the implications sooner rather than later.

If you’re considering the future skills landscape for your HR team or wider business in response to recent developments in AI, do drop us a line to discuss further: [email protected]

 

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Interviewee and hiring manager

Master Finance Recruitment: A Guide for Candidates and Hiring Managers

As a candidate seeking development through a new assignment, it is helpful to streamline your job search and establish your professional desires and requirements upfront.

Instead of diving straight into evaluating potential roles based on location, salary, and company type, we suggest candidates first reflect on their current standpoint: Are you seeking a new challenge or aiming for a lateral move?

Clarifying your motivation for change is crucial in achieving your objectives, especially when seeking relevant opportunities. Vaguely defined motivations can result in a bad career move, forcing you to re-enter the job market again when not in the right position, and this can be to the detriment of an otherwise strong CV.

EMEA Recruitment can add value to your job search as our consultants and research team are Finance recruitment experts and we can offer you highly tailored career advice on how to achieve your goals. To discuss how we can support you in further detail, please do get in touch: [email protected] 

Our Advice for Aspiring Hiring Managers: 

A streamlined hiring process helps ensure you identify candidates with the right cultural fit and eliminate wasted time to the greatest possible extent.

Firstly, branch out to your network to understand the profiles currently available in the market and any prevalent skills shortages. Modifications to the role resulting from market trends may have wider implications, such as who needs to meet this prospective individual before deciding whether to offer them the role.

Two or three interviews is considered the ideal range, as an overly drawn-out hiring process with too many stakeholders can create delays and subsequently a negative candidate experience, particularly in high-demand role categories.

Combining hard and soft skill assessments can add value if used correctly. In Finance, this might mean a test to accurately assess proficiency with certain software. Always align with the candidate on a deadline for completion; this not only ensures the process remains on track, but gives a gauge on how ‘bought-in’ they are to the opportunity.

At EMEA, our people-first approach makes us the ideal strategic business partner across Finance, Human Resources, and Procurement and Supply Chain. By listening, collaborating and championing your business we’re able to overcome even the most challenging of search scenarios. To learn more, please contact: [email protected] 

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Interview conversation

Ghosting in Recruitment: Gen Z’s Impact on Communication

A recent survey by the job search site Indeed, involving 1,500 companies and an equal number of employees, unveiled surprising statistics about "ghosting".

Ghosting: The practice of suddenly ending all communication without warning or explanation and avoiding further attempts to communicate.

The survey revealed that 75% of workers have disregarded communication from potential employers over the past year, with Gen Z candidates at the forefront. A staggering 93% of these younger employees have missed interviews, and 87% have accepted job offers only to disappear on what should have been their first day.

This trend highlights a deeper issue within the recruitment sector - a broad dissatisfaction among job seekers, especially younger ones, with the level of communication from potential employers.

The findings from Indeed suggest that for many Gen Zers, ghosting is a means to assert control over their career paths, reacting to the frequent lack of feedback after submitting job applications or participating in interviews.

Against this backdrop, our commitment to a people-first recruitment strategy is not just a principle but a proactive solution to a significant industry problem. By ensuring clear and consistent communication with candidates, we address one of their major grievances, thereby promoting greater engagement and respect in the hiring process. This strategy meets the expectations of modern job seekers, who demand openness and dialogue.

The ghosting phenomenon, as the survey shows, is a reaction against traditional, often impersonal recruitment methods, highlighting the need to cultivate authentic relationships with candidates. By striving to respond to every candidate, whether after an application, an interview, or a job offer, employers can not only improve their image as thoughtful and dependable recruiters but also contribute to a more respectful and efficient hiring environment.

In a time when ghosting has become a widespread reaction to dissatisfaction, our people-first philosophy is not just a policy - it's a commitment to transform the recruitment experience.

If you are a candidate seeking a more respectful and engaging job search experience or a company eager to transform its recruitment approach into a people-first strategy, contact our team for a confidential discussion: [email protected] 

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Keely image graphic

As champions of workplace ED&I, we’re proud to #InspireInclusion

To mark this year’s IWD, we asked a handful of colleagues to share what it is about our workplace and culture that makes them feel seen, supported and valued. It’s fair to say that we were delighted by the responses, including this heartfelt testimonial from our Swiss HR division Manager Keely Straw

"Joining EMEA Recruitment was a pivotal moment in my professional journey, but shortly after settling into my role, life took an unexpected turn. A diagnosis of chronic illness cast a shadow over my future, introducing uncertainty and challenges I had never anticipated. The prospect of disclosing this deeply personal matter to my manager, especially one of a different gender, filled me with apprehension. Yet, my fears were unfounded. 

EMEA Recruitment's culture provided to be a sanctuary where every voice is heard and every individual is valued. When I finally mustered the courage to confide in my manager, I was not met with judgment or discomfort, but with empathy and unwavering support. The genuine concern and understanding demonstrated by my manager and the broader team created a safe space where I could openly discuss my health concerns without fear of stigma or repercussion. 

In navigating the complexities of my illness, EMEA Recruitment extended a lifeline, providing me with flexibility to adapt my work schedule to accommodate my health needs. This invaluable support not only alleviated the burden of the work-related stress but also reaffirmed my sense of worth within the organisation. Knowing that my well-being was priortisied allowed me to focus on managing my condition without the added pressure of work-related worries. 

Even on the most challenging days, I am reminded of the profound impact of EMEA Recruitment's unwavering support. Their commitment to fostering an inclusive and supportive environment has not only eased the burden of my illness but has also instilled in me a sense of gratitude and loyalty. As I continue to navigate the ebb and flow of my health journey, I am filled with optimism for the future, knowing that I am part of a community where I am truly valued and supported." 

Today and everyday we strive to bring the values encapsulated in our ED&I policy to life, providing an equitable, flexible and supportive environment. 

If you are interested in joining the team, reach out to Laura Henderson or find out more at: https://www.emearecruitment.com/pages/work-for-us

 

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Changes in work culture, flexible working

Do Cultural Changes in Society affect Employee Retention?

Over the last five years, there have been multiple changes in culture that have significantly impacted employee retention.

Candidates have started looking for shared values, beliefs, behaviours, and norms that shape the work environment within a company. When there are shifts in the culture of an organisation, it can affect how employees perceive their work experience and their alignment with the company's values and goals.

Here are a few ways that changes in culture can influence staff retention:

  • Alignment with values
  • Employee engagement
  • Leadership style
  • Communication and collaboration
  • Work-life balance and wellbeing

It is important for organisations to be mindful of the potential impact that cultural changes can have on employee retention. Clear communication, involving employees in the change process, and ensuring that the new culture aligns with employee needs and expectations can help mitigate negative effects on retention.

Combat employee retention challenges

Let us explore some strategies to combat staff retention challenges and create a thriving work environment:

Positive company culture: Cultivate a positive and inclusive work culture that aligns with your organisation's values and fosters employee engagement. Encourage open communication, recognise and reward achievements, and provide opportunities for growth and development.

Employee wellbeing: Offer flexible work arrangements, wellness programs, and initiatives that support mental and physical health. Show genuine care for your employees' personal lives and create a supportive environment.

Employee engagement: Actively engage your employees by involving them in decision-making processes, seeking their input, and providing opportunities for professional growth. Encourage innovation, collaboration, and knowledge sharing to create a sense of ownership and belonging.

Competitive compensation and benefits: Ensure that your compensation and benefits packages are competitive within your industry. Regularly review salaries and benchmark against industry standards. Additionally, consider offering attractive perks, such as professional development opportunities, performance bonuses, or stock options.

Career development opportunities: Invest in your employees' professional development by providing training programs, mentorship opportunities, and clear career paths. Show your commitment to their growth and advancement within the organisation.

Conduct stay and exit interviews: Regularly conduct stay interviews to understand employee satisfaction, concerns, and aspirations. Use the insights gained to make informed changes and address potential issues before they lead to turnover. Similarly, conduct exit interviews to gather feedback from departing employees and identify areas for improvement.

Work-life balance: Encourage a healthy work-life balance by discouraging excessive overtime and promoting time off. Create a culture that values and respects personal time, allowing employees to recharge and maintain a healthy work-life integration.

Remember, employee retention is an ongoing effort that requires continuous monitoring and adaptation. By implementing these strategies, you can create an environment where all employees feel valued, motivated, and compelled to grow.

EMEA Recruitment is the bastion of people-first recruitment. We listen, challenge, and champion our candidates and clients by understanding their growth, culture, and benefits. This puts us in a strong position to take your value proposition to market and identify the right people for your business. For further advice, contact Hannah Mallia

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