More than half of procurement professionals are unsatisfied with their pay cheques, despite the profession’s wages rising above the UK average.
The latest procurement salary guide by recruiters Hays found 56% of procurement employees reported a high level of salary dissatisfaction, and almost a quarter of those surveyed stated they intended to leave their current job because it lacks future opportunities.
Overall, more than half (57%) of professionals in the sector are planning to move jobs in the next 12 months and a shortage in skills – while pushing wages up – is having a negative impact on employees.
Just under half (45%) of procurement employees rated their work-life balance as very poor on average.
Scott Dance, director of Hays Procurement and Supply Chain, said: “Skills shortages have the potential to severely limit growth, hinder productivity and damage employee moral at a critical time.
“In particular, a drive for managerial talent with strategic experience may be hindered by continued skills shortages requiring employers to reassess attraction and retention policies.”
The average procurement and supply chain professional’s salary has increased 2.1% over the past year, above the overall UK average of 1.8%, Hays found. This rises to 3.6% for procurement managers and senior buyers and to 4% in the public sector.
Businesses themselves were optimistic about the coming year, despite the economic and political uncertainties, said Dance. Around half (53%) expect business activity to increase over the next year and more than two thirds (67%) are planning to recruit.
But nearly two thirds (61%) of procurement employers reported moderate skills shortages over the last year, compared to 55% over the whole economy, while a further 16% said they were experiencing severe shortages.
As a result, 45% of employers said these shortages were negatively affecting employee morale and more than a fifth (21%) said absenteeism caused by workplace stress had increased, above the UK average of 16%. Half of firms said this was impacting productivity.
“We therefore suggest that organisations look to make workforce planning a key strategic priority, investing in their employer brand, and use contingent workers for more than just projects,” said Dance.
“Employers need to ensure they can attract the best people and alleviate some of the pressure on their existing workforce.”
Hays salary guide is based on job listings, offers and candidate registration, as well as a survey of almost 17,500 employers and employees, including more than 700 working in procurement.
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