Procurement professionals in UK received an average payrise of 4.9%, compared to the national average of 3.4%, according to the 2020 CIPS/Hays Procurement Salary Guide and Insights report.
More than 5,000 procurement professionals took part in the global survey which found the UK average salary for all procurement and supply professionals was £48,415.
The report emphasised the need for soft skills, and “influencing skills” was cited as the most important attribute for procurement professionals at senior levels.
Internal stakeholder management was identified in a list of top five skills in demand at all except operational and managerial levels, demonstrating the need to raise the profile of procurement relationship management.
Procurement and supply managers have experienced tough circumstances in the last year, even before the Covid-19 pandemic with Brexit uncertainty and global trade disputes.
Malcolm Harrison, group CEO, CIPS said: “With this backdrop and with the findings of the report, it’s obvious that this profession remains in high demand. When I started
in procurement, there were two goals – continuity of supply and value across the supply chain.
“Now procurement and supply chain professionals must protect corporate reputation, create an environment for best investment opportunities, increase innovation, grow the business and beat off competition, implement digitalisation and the maintenance of sustainable supply chains.
“That sounds like a lot, and the necessary range of skills, both technical and soft skills that are required, create the professionals of choice eagerly sought by businesses large and small, and develops our professionals into potentially the CEOs of the future.”
The report found there had been a small narrowing of the gender pay gap at the advanced professional level, by two percentage points to 33%, compared to 2019.
“It is clear that organisations have much work to do in order to face up to and proactively address this issue: for men and women alike, salary is the most important issue when considering moving to a new employer and so, in order to retain talented women in the profession, gender pay equality must be addressed,” the report said.
Procurement professionals in London continue to receive the highest salaries. However, competition for talent between the regions has led to the most significant increase in salaries in Scotland, from £40,430 in 2019 to £48,087 in 2020, as the country seeks to invest more and more in the financial services sector.
The guide also identified the value of CIPS qualifications, with MCIPS professionals earning on average 17% more than their non-qualified counterparts, up two percentage points on 2019.
Scott Dance, director, Hays Procurement and Supply Chain, added: “The events of the opening few months of 2020 have been unprecedented, leaving many professionals and organisations to adapt to a new way of working and to rapidly changing situations.
“One thing the Covid-19 crisis has allowed procurement and supply chain teams to demonstrate is just how invaluable their role is in keeping vital services across the world afloat, including healthcare, social care and food supply chains, to name just a few. As we enter into the new era of work, this importance will continue to develop.”
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