Search Results for: skills

Three quarters of recruiters think young people aren’t prepared for working life

Three quarters of recruiters think young people aren’t prepared for working life

by • News, Workplace

The new report, Changing Face of the Youth Labour Market, claims to uncover a number of worrying insights into employers' perceptions of young workers and their readiness for working lifeA new poll from the the CIPD suggests that many UK employers believe young people aren’t ‘job-ready’ and lack important workplace skills, with a fall in earning and learning opportunities cited as a key reason. The new report, Changing Face of the Youth Labour Market, claims to uncover a number of worrying insights into employers’ perceptions of young workers and their readiness for working life. The study suggests that only just over a quarter (28 percent} of employers who hired individuals aged 16-24 in the past year believe that young people are well-prepared for the world of work. (more…)

Older workers will be essential in a changing global economy

Older workers will be essential in a changing global economy

by • News, Wellbeing, Workplace

A new report from consulting firm Bain & Company underscores the rising importance of older workers as global populations age and labour markets face growing talent shortagesA new report from consulting firm Bain & Company underscores the rising importance of older workers as global populations age and labour markets face growing talent shortages. The study focuses on the demographic of employees aged 50 and above, whose experience, stability, and institutional knowledge make them invaluable assets to businesses. It reveals that while older workers often demonstrate adaptability, problem-solving abilities, and a strong work ethic, organisations frequently overlook their contributions due to outdated stereotypes and rigid employment practices. (more…)

Slow progress on sustainable buildings, RICS report claims

Slow progress on sustainable buildings, RICS report claims

by • News

While demand for sustainable buildings and investment remains steady, particularly in regions such as Europe, significant gaps persist in terms of skills, knowledge, and financial incentivesThe latest sustainability report from the Royal Institution of Chartered Surveyors (RICS) highlights the continued challenge of embedding sustainable practices within the built environment, despite some signs of progress. While demand for sustainable buildings and investment remains steady, particularly in regions such as Europe, significant gaps persist in terms of skills, knowledge, and financial incentives. (more…)

Sick days rise 41 percent over last three years as business productivity falls post-pandemic

Sick days rise 41 percent over last three years as business productivity falls post-pandemic

by • News

sick daysSick days have surged by 41 percent over the past three years as employers continue to struggle with declining levels of productivity. The latest Hiring Trends Index by Totaljobs, surveying 1000 UK HR decision-makers, highlights how this rise in absenteeism is perpetuating a cycle of poor business performance affecting both employers and employees. (more…)

If firms want people to ‘return to office’, they should offer a better experience

If firms want people to ‘return to office’, they should offer a better experience

by • Flexible working, News, Property

A new report from the British Council for Offices (BCO) argues that if employers want their staff to 'return to office', they need to approach the workplace in the same way they would their customers by creating spaces that offer experiences workers actively seek outA new report from the British Council for Offices (BCO) argues that if employers want their staff to ‘return to office’, they need to approach the workplace in the same way they would their customers by creating spaces that offer experiences workers actively seek out. The report, titled Towards Experience Utopia, claims to serve as a comprehensive guide for creating optimal working environments that integrate the best aspects of both remote and in-office work. Commissioned by the BCO Occupiers Group, which includes major employers like NatWest, PwC, Deloitte, and Goldman Sachs, the report highlights how the shift towards hybrid working has transformed the expectations of employees. (more…)

Employers need to be proactive to address problem of sexual harassment at work

Employers need to be proactive to address problem of sexual harassment at work

by • Comment, Workplace

In today's evolving workplace landscape, the issue of sexual harassment at work and the work-related environment remains a pressing concernIn today’s evolving workplace landscape, the issue of sexual harassment at work and the work-related environment remains a pressing concern for employers and employees alike. Recent surveys have shed light on the pervasive nature of this problem, revealing that a significant portion of workers continue to experience sexual harassment at work not only from colleagues, but also from third parties such as suppliers, customers and patients. As new legislation approaches, it’s imperative for employers to take reasonable anticipatory steps to prevent sexual harassment at workplace to improve workplace culture, the organisation from expensive and damaging claims and its workforce from such abhorrent conduct. (more…)

Over 57 and looking for work? Forget it, say HR managers

Over 57 and looking for work? Forget it, say HR managers

by • News, Workplace

Millions of people aged 57 and over in the UK are being overlooked when looking for work, as employers consider this age too oldMillions of workers aged 57 and over in the UK are being overlooked for job opportunities, as employers increasingly consider this age ‘too old’ to hire, according to a new poll. The survey, conducted by Totaljobs, claims that a third of people over 50 worry they will struggle to find work due to age discrimination, with one in seven reporting being rejected for jobs because of their age. The study suggests that two-fifths of HR decision-makers have faced pressure to hire younger candidates, placing older workers at a disadvantage when looking for work. In response, more than a fifth of over-50s have chosen to omit their age from their CVs, while a quarter hesitate to apply for roles, fearing potential bias. (more…)

The future of procurement: navigating a digital and strategic evolution

The future of procurement: navigating a digital and strategic evolution

by • Company news

In recent years, procurement has transformed from a back-office function to a strategic driver of business valueIn recent years, procurement has transformed from a back-office function to a strategic driver of business value. As global supply chains become more complex and businesses strive for greater efficiency, sustainability, and agility, the future of procurement is set to change even more dramatically. Technological innovations, data-driven insights, and a shift in priorities are reshaping the way organizations manage their sourcing, purchasing, and supplier relationships.

This article explores the future of procurement, focusing on the trends, technologies, and strategies that will define this critical business function in the coming years.

 

 

 

 

  1. The Rise of Digital Procurement

One of the most significant trends shaping the future of procurement is digital transformation. Traditional procurement processes, which were often manual and time-consuming, are being replaced by automated, digital solutions. Technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA) are streamlining procurement workflows, enhancing transparency, and improving decision-making.

Artificial Intelligence (AI) and process orchestration are transforming procurement by streamlining complex tasks and improving overall efficiency. As highlighted in Tonkean’s blog, AI can eliminate time-consuming manual work like managing approvals, chasing stakeholders, and navigating complex systems. The use of AI-powered orchestration allows procurement teams to unify systems, automate routine tasks, and facilitate collaboration. This leads to faster cycle times, better process adoption, and more time for high-value strategic work, ultimately positioning procurement as a key business partner.

 

Key Areas of Digital Transformation:

– Automation of Routine Tasks: Tasks like purchase order creation, invoice processing, and supplier matching can now be fully automated, allowing procurement professionals to focus on more strategic initiatives.

– AI-Driven Insights: AI can analyze vast amounts of data to identify trends, predict demand, and assess risks, enabling more informed decision-making.

Impact:

The adoption of digital technologies will lead to faster procurement cycles, reduced errors, and significant cost savings. Procurement professionals will need to adapt to new tools and skills, such as data analytics and AI-powered decision-making, to remain competitive.

 

  1. Data-Driven Decision-Making

Data is becoming the new currency in procurement. With the vast amount of data now available through various channels—supplier data, market trends, and performance analytics—procurement teams have the opportunity to make more strategic decisions. Advanced analytics tools are enabling organizations to turn raw data into actionable insights, optimizing procurement strategies for cost reduction, risk management, and supplier performance.

How Data Impacts Procurement:

– Supplier Relationship Management: Data analytics can help procurement teams evaluate supplier performance, identify key areas of improvement, and foster stronger, more collaborative relationships.

– Risk Mitigation: Predictive analytics can forecast potential supply chain disruptions, allowing organizations to proactively manage risks such as supplier bankruptcies, geopolitical instability, or natural disasters.

– Cost Optimization: By analyzing purchasing patterns and market trends, procurement professionals can negotiate better contracts, reduce maverick spending, and ensure cost savings across the board.

Impact:

The ability to harness and analyze data will be critical for the future of procurement. Organizations that leverage data to drive decisions will be able to build more resilient and cost-efficient supply chains.

 

  1. Sustainability and Ethical Sourcing

As consumers, investors, and regulators increasingly prioritize sustainability, procurement teams must align with corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. This shift means that procurement will play a central role in ensuring that businesses source goods and services from environmentally and ethically responsible suppliers.

Key Areas of Focus:

– Sustainable Sourcing: Procurement teams will need to ensure that suppliers adhere to environmentally friendly practices, such as reducing carbon emissions and minimizing waste.

– Ethical Labor Practices: Ensuring that suppliers comply with labor laws, prevent human rights abuses, and foster fair working conditions will become a priority.

– Circular Economy: Procurement will increasingly focus on sourcing products that can be recycled, reused, or repurposed, contributing to a more circular economy.

Impact:

Sustainability will no longer be optional for procurement teams. To remain competitive and compliant, procurement professionals must prioritize ethical and sustainable practices in their sourcing strategies.

 

  1. Supplier Collaboration and Innovation

In the future, procurement will shift from a transactional function to one that focuses on collaboration and innovation. Instead of simply managing suppliers, procurement teams will work more closely with them to co-create value and drive innovation. This shift will require a new approach to supplier relationships, one that emphasizes trust, transparency, and mutual benefit.

Key Changes:

– Supplier Collaboration: Rather than viewing suppliers as vendors, procurement teams will treat them as partners in innovation. This collaboration can lead to the development of new products, improved processes, and shared efficiencies.

– Long-Term Relationships: Procurement will focus on building long-term, strategic partnerships with suppliers, ensuring that both parties can innovate and grow together.

– Innovation Hubs: Some organizations may establish innovation hubs or programs where procurement teams and suppliers collaborate on research and development, bringing cutting-edge products and services to market faster.

Impact:

Collaboration with suppliers will become a competitive advantage, enabling organizations to innovate, adapt to market changes, and deliver more value to customers.

 

  1. The Strategic Role of Procurement

As procurement evolves, its role within the organization will become more strategic. Instead of being seen as a cost-saving function, procurement will increasingly contribute to business growth, innovation, and resilience. This shift will require procurement professionals to develop new skills and capabilities, such as strategic thinking, cross-functional collaboration, and leadership.

Key Areas for Strategic Focus:

– Procurement as a Value Creator: Procurement will move beyond cost-cutting to create value through innovation, risk management, and sustainability.

– Cross-Functional Collaboration: Procurement teams will work more closely with other departments, such as R&D, marketing, and finance, to align procurement strategies with broader business objectives.

– Leadership and Influence: Procurement leaders will need to influence key stakeholders and contribute to strategic decision-making at the executive level.

Impact:

The strategic elevation of procurement will lead to greater influence within organizations, enabling procurement professionals to drive business success through innovation, resilience, and sustainability.

 

 Conclusion

The future of procurement is one of transformation and opportunity. As digital technologies, data-driven decision-making, sustainability, and supplier collaboration reshape the procurement landscape, professionals in this field will need to adapt and embrace new skills and strategies. By doing so, they will not only optimize procurement processes but also contribute to the long-term success of their organizations.

Procurement is no longer just about sourcing the best deal—it’s about building resilient, ethical, and innovative supply chains that drive business

GenAI will change the nature of work and encourage people to spend more time working together

GenAI will change the nature of work and encourage people to spend more time working together

by • AI, Flexible working, News

UK chief executives see implementing Generative AI (GenAI) as an opportunity to change the nature of work and create highly skilled workforces without reducing the number of jobs in the marketUK chief executives see implementing Generative AI (GenAI) as an opportunity to change the nature of work and create highly skilled workforces without reducing the number of jobs in the market, according to KPMG’s 10th annual CEO Outlook survey. KPMG surveyed more than 1,300 CEOs around the world – 150 in the UK – in July and August, revealing that two thirds of UK CEOs (65 percent and 76 percent globally) see GenAI as a positive disruptor with 68 percent (65 percent globally) agreeing that GenAI remains a top investment priority. (more…)

Third of people would like workplace AI ban, half feel jobs are insecure

Third of people would like workplace AI ban, half feel jobs are insecure

by • AI, News

A new poll from CYPHER Learning claims that one in three workers would like to see AI banned from the workplace, while nearly half express concern that AI poses a threat to their future job securityA new poll from CYPHER Learning claims that one in three workers would like to see AI banned from the workplace, while nearly half express concern that AI poses a threat to their future job security. The study, suggests that women, workers over the age of 55, and those in clerical or manual labour roles feel most at risk. The survey of 4,543 workers across the US, UK, and Mexico found that AI is reshaping job roles, with 63 percent of respondents reporting that AI technologies has already changed the skills required for their jobs. More than half of those surveyed (52 percent) believe that AI will either completely transform or have a major impact on their roles within the next two years. As a result, 38 percent of workers anticipate the need for retraining due to job obsolescence, and almost half (45 percent) are worried about their future job security. (more…)

Most people don’t feel that workplace conflict is resolved at their firm

Most people don’t feel that workplace conflict is resolved at their firm

by • News, Workplace

Just over a third of employees (36 percent) who experienced workplace conflict in the past year feel it has been fully resolvedOnly around a third of employees feel the conflict they experienced at work has been fully resolved, according to a new poll from the CIPD.  According to the survey, eight in 10 (81 percent) employers feel they are doing enough to prevent and manage bullying and harassment at work, but just over a third of employees (36 percent) who experienced workplace conflict in the past year feel it has been fully resolved. (more…)

UK see largest contraction in Labour Force since the 1980s

UK see largest contraction in Labour Force since the 1980s

by • Business, News, Workplace

The final report from the two-year Commission on the Future of Employment Support claims that the UK needs ‘once-in-a-generation reform’ to boost growth and improve living standards in the face of a huge contraction in the country’s labour force. The report suggests that the UK is one of the few developed nations where employment has fallen post-pandemic. The UK has dropped from having the eighth-highest employment rate globally to fifteenth. Had the original position been maintained, the economy would be £25 billion larger annually, with public finances £16 billion better off. (more…)

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