3-Part Framework Procurement Talent Transformation
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The 3-part framework for procurement talent transformation includes vision, realism, and accountability. Traditional training is no longer effective, so procurement professionals must take ownership of their own development. They should envision their skills and roles in a digital future, be realistic about obstacles, and hold themselves accountable to development plans and coaching from others. Technology provides opportunities for new experiences that can help drive transformation.
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3-Part Framework Procurement Talent Transformation
- 1. 3-Part Framework for Procurement Talent Transformation VISION, REALISM, AND ACCOUNTABILITY Thank you for joining us, we will begin momentarily.
- 2. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Tips for using WebEx Audio is provided through your computer speakers only If you are unable to hear the audio through your computer speakers, simply click on the phone icon above the chat window to receive teleconference information. The chat box (asking questions/tech issues) In case of any other technical problems write to us at webcasts@zycus.com 3-Part Framework for Procurement Talent Transformation : Vision, Realism, and Accountability
- 3. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Speaker M.B.A, Babson College; M.S. Library Science, Simmons University Former Assoc. Director of Consulting, Emptoris; Hired Services Sourcing Analyst, Ahold USA Business Survey Chair, ISM-New York Author: • Supply Market Intelligence for Procurement Professionals: Research, Process, and Resources (2014) • Procurement at a Crossroads: Career Impacting Insights into a Rapidly Changing Industry (2016) • Finance Unleashed: Leveraging the CFO for Innovation (2017) Kelly Barner Owner, Buyers Meeting Point
- 4. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Today’s Focus Traditional learning & development is no longer effective in today’s competitive environment Key ingredients for self-driven procurement skills development: vision, realism, and accountability Envisioning procurement talent development in a digitally transformed environment
- 5. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out our webinar at https://zyc.us/2VQEdQq
- 6. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay The Challenge Traditional skills development is obsolete in today’s competitive environment: We never have enough time Training is not a high priority Budgets are shrinking It is boring!
- 7. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Training V. Development Choosing between training and development is a question of your main objective: Training Behavior Development Talent Source: Bill Michels, “Training or Development? There Is A Big Difference,” Supply & Demand Chain Executive Magazine, 17 May 2018, https://www.sdcexec.com/professional- development/article/21001357/training-or-development-there-is-a-big-difference.
- 8. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Self Driven Talent Transformation Self driven talent transformation is a reality and an advantage: According to the LinkedIn 2018 Learning Trends Report: • 58% of employees prefer to learn at their own pace • 49% of employees prefer to learn at the point of need According to Ardent Partners CPO Rising 2018 Report: • Improve staff capabilities is the 5th highest priority at 27% of CPOs • Behind technology, collaboration with the business, stakeholder communication, and policy/process development Remember: Training v. Development…
- 9. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Vision As with most procurement efforts, we start by setting a baseline: Current-state objectivity Future Formality And… Why?
- 10. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Check out our webinar at https://zyc.us/2VQEdQq
- 11. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Realism Newton’s first law: “An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.”
- 12. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Accountability Accountability breeds response-ability. -- Stephen Covey Accountability to self Accountability to plan Accountability to someone else
- 13. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Coaching Having live, dynamic encouragement and guidance can make all the difference in the development process: Built in accountability (and credit) Challenge yourself to put it into practice Step up and BE a coach or mentor Who will you approach?
- 14. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay With What Content? The problem isn’t finding content, it is finding the RIGHT content. Choose your channel Leverage social media Find a curator Pick something and go! Resist inertia!
- 15. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Role Of Technology
- 16. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Digital And Talent Transformation In Parallel Start with what’s currently in house. Don’t be intimidated by what’s new. Identify and resolve non-digital chokepoints. Step up for a new role – even if you’re not fully qualified (yet).
- 17. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Key Takeaways No one is better positioned to be an advocate for you than YOU! Think about the role that others can play in your development process, and what you can give in return. Beware inertia!! Digital transformation provides ample opportunities to grow and gain new experiences. Seize them!
- 18. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Feel Free To Reach Out! Kelly Barner LinkedIn: https://www.linkedin.com/in/kelly-barner-6884443/ Twitter: @BuyersMeetPoint Email: Kelly@buyersmeetingpoint.com
- 19. +1 866 563 9219 info@zycus.com www.zycus.com Thank You
Editor's Notes
- These challenges represent the reality of skills development today. Making things worse is the notion – deserves or not – that traditional training programs are overly tactical. So we tell ourselves we’re too strategic for standardized training & development, that we don’t have time anyway, that the lack of budget means upper management doesn’t prioritize skills development… and we do nothing. Years come and years go and our performance reviews come down to actual work, savings, and stakeholder feedback. As much weight as I place on the first three challenges here, more often than not, I think our lack of motivation to train comes down to the fourth. Too many skills development programs are static and become dated. This is not a challenge unique to procurement – all functions face this challenge to some degree, but procurement may feel it most keenly because we are also going through a larger transformation and realignment that changes what procurement does and what skills we need to have on the team. Training used to be step by step, behaviorally oriented. Anything that can be taught that way today is more likely to be handled by robotic process automation.
- If you think training is a fluffy topic, look at the axes on this chart. A split focus on sustainability and organizational impact go to the heart of what procurement teams are trying to accomplish. This distinction in terms is one that we will refer back to throughout this presentation – and it is important. It is something like the tactical v. strategic divide that we see elsewhere in our work. Do we need to be tactically effective? Absolutely. But that is merely a basic qualification. In order to excel – and that’s what we’re looking to do right? Not to be sufficient, but to stand out and push the boundaries of what is possible – we need to develop skills and capabilities. The only exception I might have to this chart is that it seems to say that your organizational impact falls as soon as you start training – and that’s not always the case. If there is a specific weakness, impact will actually increase quickly but unsustainably, like a blip, before continuing the downward trajectory you see here. We’ll talk about baseline in a couple of slides – this is something to consider then.
- Advantage: think of all the things you do today that actually count as development. Research for cost modeling, negotiation prep, category strategy development, best practices. They are different than how do I… and find a series of steps. All of this is development. You just need some structure, a way to track your progress. Reality: No one else knows exactly what you need or want to learn about, and which skills/capabilities you need to strengthen. Most have little to do with procurement (except where you will apply them in your current role). For instance: influence building, executive-level communication, strategy development,
- The fact that you’re interested in this topic means your off to the right start. You know that with a little help, you are capable of much more than what you can do today. From a team perspective – ask yourself this: do you want to work on a team with someone who doesn’t want to be capable of more? Objectivity: If your baseline is no good, you’re going to invest time in the wrong areas and miss your mark. Get someone else’s input – whether they work at your company or not. We’ll come back to this idea later in the presentation when we talk about coaching and mentorship. Think back to the slide where we talked about the organizational impact and sustainability of training v. development. I think this is the exception to the downward trajectory of training. If you assess your current state, and either on your own or through a third party identify a tactual or training-based weakness, plug it and plug it fast. Don’t allow yourself to leave lose strings. For instance: if you struggle to read financial statements, or don’t feel confident about the negotiating basics, or could use formal instruction in project management, get the training you need. It’s not an issue to have a weakness, it is a problem to keep it. Formality: Be specific but be bold. A driving objective should have some stretch to it. Tip: write it down. “being better informed” or “being better prepared” might sound perfectly logical in your mind, but they look a little thin on paper. What role do you want to be in or be qualified for? What is your timeline? Why? Knowing why you are investing in yourself is important to measuring the effort. Did you get feedback from a manager that you’ve hit a capability wall? Is there a specific position you’d like to fill? Are you priming yourself for a transition to another role in the company? These are all different trajectories. You’ll have to manage and publicize your progress differently for each one.
- We tend to focus on the second part of Newton’s first law of motion – an object in motion stays in motion. But the law opens with the inverse: an object at rest stay at rest. If you’re not investing in your own professional development, then you can consider yourself at rest. Changing that requires a great deal of energy and discipline. I was a rower in high school and college. In sprints races we would start against a dock, with someone holding the stern in place. An eight – even a women’s eight – is 62 feet long. Put 9 people in it (eight rowers and a coxswain) you’re talking about serious weight and inertia. We would never start with a full stroke front to back. We’d do a regular sequence of partial strokes. Half, ¾, ¾, half, whole. Think about that when you try to take on too much at the start of a self driven talent development effort. Better to just get moving (baby steps you might say) then to shift heaven and earth on day one. Not only will it be less disruptive to your other work, you’re more likely to actually carry through. Spend 15 minutes a day, 4 days a week, and by the end of the average month you will have invested 4 hours in your capabilities. 48 hours – or two full days – by the end of the year.
- Keeping in mind that we’re working hard to break the inertia of not investing regularly in self-development, it is important to put a plan in place to make sure you don’t reach the point of good intentions and then stop there. Just like signing up for a gym membership doesn’t make you healthier, good intentions do nothing if they aren’t back up by action. Having a plan to hold yourself accountable depends on the kind of worker you are. - Disciplined: accountability to self. Maybe you can just make it happen. If that’s the case, good for you! If that doesn’t sound like you, you’re not alone. Don’t waste any energy judging yourself for that. - Organized: if you have a formal plan for your professional development, something that’s a must, you can use that to hold yourself accountable. Check off boxes on a calendar, add a task into your calendar, make sure it hits your to do list. However you manage your time today, make sure that professional development is included. Don’t allow it to become a ‘different’ effort. - Responsive: Telling someone else about your plans can add an additional degree of accountability regardless of your work style. It can be someone in the office, a manager, a colleague, a friend, or it can be someone at home. What you need is someone who will ask every week or so, “How’s it going?” ”Have you learned anything new?” “Do you feel it is making a difference in your work?” To that point, being self-driven doesn’t mean you have to go it alone. You can develop with a buddy, making the effort more fun, increasing your engagement, and holding yourself accountable all at the same time.
- The idea of coaching is something that may exist in an informal sense if your organization, but just like a professional development plan, you’ll get a whole lot more out of it if you formalize things. Not only will it assure you stay on track, having someone else that knows what you’re up to can really pay off. Old adage about coming in early v. staying late… always remember that you are your own best advocate. It is easier to work with a coach than it is to find a natural way to drop the hint at the coffee machine that you’re been working on strengthening your capabilities. Well la-de-da for you! It is only in the application of what you learn that your performance will start to noticeably change. If someone else knows what you’ve been learning about, they can keep an eye open for when you should be drawing on that new information. We talked about having a study-buddy of sorts. Keep in mind that it doesn’t need to be a direct peer or manager in order to work. If you select someone a step or two down the chain from you, or just someone new to your company, you get the accountability and credit for being a coach in your own right. There may be someone that immediately pops into your mind as the perfect coach – but don’t make the decision too quickly. Maybe your coach should be outside of procurement. Maybe your coach should be someone that you know can help you take the next step based on their current influence or who has an impressive network. Speaking of that, there may be someone in your virtual network (outside of your company) that would make an ideal mentor. Keep all your options open – go back to the reason you gave for WHY you want to develop your skills and capabilities, and make sure that even the selection of your coach moves the ball forward.
- We are lucky that there is so much great content published in the world on a daily basis, and we have unprecedented access to it. Channel: I’m a reader. I read two newspapers a day and several business magazines a week. But that’s me. Some people love podcasts, others videos, and still others infographics or complex charts and tables. I’m also a fan of webinars like this one. Find the channel that is best for you and your development goals and see if there is a way to have it come to you. Social Media: What are your colleagues sharing and commenting on? This includes Twitter, LinkedIn, maybe even Facebook. It may also give you a hint as to what subject areas and capabilities you need to focus on – if everyone else is talking about something and you don’t know what it is – start there. Curation: For example: Art of Procurement, Hal Good, Thinkers 360. Inertia: Letting the decision of what to read get in the way of you reading allows the inertia to win. Don’t fall for that!!
- Up until now, pretty much everything we’ve discussed is general professional development advice. But procurement is in a very specific place. How should trends around digital transformation be allowed to influence our investments in individual professional development?
- Innovation starts at home – are you using all of the functionality that your procurement platform has to offer? I can remember from my days in consulting back at Emptoris, pre-IBM acquisition, we would occasionally be called in to help with RFP responses that involved our more complex functionality. How many items, specs, bid fields multiplied out can the system handle? Can suppliers submit alternate bids? How about optimization? Advanced analytics? And then in many cases, we would win the contract and begin the implementation and they didn’t even know who their top suppliers were. They were sourcing via email. Their learning curve was so steep that it would be years before they were ready for alternate supplier bids and optimization scenarios. BUT – all smart organizations get there eventually. The shame of it is that companies often have access to functionality that they don’t even know about. Learn about top technology trends. The usual suspects: machine learning, AI, RPA, etc. Make sure you are generally conversant on all of these technologies, understand where in the world and in what industries they are being piloted, and learn as much as you can. The whole point of digital transformation is to centralize and get processes off paper. Be on the lookout for paper or places where information has to be transferred/re-keyed from one system to another. Elevate them for resolution, and fully expect to be part of the effort. Digital transformation is often a project-based effort. Look for opportunities to take a formal role. Ask to be involved if you need to. You can educate yourself on the way. Chances are, no one else is better qualified than you are.