Procurement and supply chain professionals are increasingly in demand in Singapore as companies look to make the most of the improving economy. According to Hays, interest in these professionals is a way for the companies to guard against the impact of ongoing global political uncertainty.
“Many businesses in Singapore are right now, undergoing or preparing transformation and change projects that will deliver greater cost efficiencies and operational excellence,” says Lynne Roeder, managing director for Hays in Singapore. “To help achieve their goals, businesses are turning to Procurement and Supply Chain professionals. Procurement and supply chain is now seen as a vital strategic, commercial partner to the organisation rather than just a tactical function.
“We are seeing a far greater appreciation and understanding of the value outstanding candidates can bring to a business and not surprisingly, competition for talent is increasing,” continues Roeder.
“While there is no doubt the stock of procurement and supply chain professionals is on the rise, we are yet to see salaries follow suit. Employers are looking at using extra non-monetary benefits to secure a preferred candidate, but this may not be enough as the market continues to heat up. Top professionals know their worth and are prepared to negotiate for a better deal.”
Roeder says employers are focusing more attention on cultural fit often requiring shortlisted candidates to attend three or more job interviews to test how they would fit into the team. With competition for talent already high, the longer an employer takes to make a decision, the more they risk losing their preferred candidate.
“We also predict businesses in Singapore will look increasingly to procurement and supply chain professionals to provide thought leadership on what technologies they should be exploring now, and in the future to minimise costs and to maximum efficiencies in getting goods and services to market across the region,” says Lynne. “It could well now be time for companies to view the remuneration structures offered to procurement and supply chain professionals.”
Other observations offered by Lynne about Singapore’s Procurement & Supply Chain recruitment market include:
1. “Commercially savvy candidates able to manage transformation projects and senior stakeholders resistant to change are in high demand.”
2. “Employers not able to find the right candidate to manage a change project will hire from outside the procurement industry if the candidate has a strong track record of managing transformation projects.”
3. “Companies are also bringing contractors on board to carry out pre-implementation work to set up Procurement and Supply Chain management change projects for success.”
4. “On the Supply side, we are seeing a big focus on improving efficiencies related to getting products to market across the region.”
5. “Regional hubs are being set up to focus on improving cost effectiveness and efficiencies. Roles being created include Head of Procurement roles based in Singapore and country heads based in offshore shared service centres.”