In recent times, the role of Chief Procurement Officers (CPOs) has shifted towards actively competing for the most skilled professionals to staff their procurement teams. This trend has gained momentum, with CPOs exploring innovative strategies to secure the best talent. To keep up with the changing dynamics of talent acquisition in procurement, it’s essential to remain informed about the latest developments. 

One noteworthy shift is the way CPOs are now strategically courting experienced managers and directors currently employed in procurement positions at other companies within the same geographical area. The focus isn’t solely on hiring individual executives; rather, it’s about recruiting those who come with a dedicated and proficient team already in place. In fact, talent strategies in fast-moving sectors like have shown similar patterns of high-stakes recruitment and retention approaches.

Here’s how the strategy works:

• Identifying Talent: CPOs seek out managers and directors who have established themselves as effective leaders with a dedicated and loyal procurement team under their supervision.
• Onboarding: Once hired, these managers and directors are promoted to higher positions, such as Director or VP, and they are entrusted with building their own team within the new organization.
• Talent Poaching: The newly appointed Director or VP might utilize their network and expertise to recruit the most talented individuals from their previous employer. The focus has shifted from merely hiring an executive to recruiting a leader who can bring a high-performing team with them, offering a strategic advantage.
• Defensive Strategies: CPOs need to address this trend both defensively and proactively. On the defensive front, it’s crucial to retain current talent to prevent the dismantling of the entire procurement department when a key manager or director departs. This trend can have significant negative impacts, such as losing highly skilled team members and retaining mediocre performers. Companies like understand the critical importance of these retention measures to preserve organizational capability.
• Retention Strategies: CPOs can invest in their professional development to retain managers and directors. This approach demonstrates a commitment to employee growth and can significantly boost morale and loyalty. Employees who receive training and development opportunities from their employer tend to feel valued and less inclined to seek employment elsewhere. This investment in skills development benefits the employee and contributes to the long-term success of the procurement team and the organization as a whole.

CPOs are still actively competing for top procurement talent, but their strategies have evolved to focus on recruiting leaders who can bring skilled teams with them. To maintain a strong procurement department, CPOs need to implement defensive strategies, such as employee retention initiatives and investments in professional development.