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Could the Great Resignation Lead to BETTER Procurement Talent?

By September 20, 2022May 29th, 2024No Comments

Since the start of the pandemic, people have left their jobs in droves. Some exited the workforce altogether, others switched jobs or industries, and many decided to take this opportunity to dabble in entrepreneurship. 

These numbers demonstrate just how staggering the impact has been on the global workforce:

  • One in five workers plan to quit their jobs in 2022 (PwC)
  • 44% of U.S. workers are currently looking for new jobs (CNBC)
  • As of January 2022, the U.K. had approximately 1.5 job openings per unemployed person (The Guardian)
  • 58% of Europeans report that they’re considering changing jobs this year (LinkedIn)

The opportunities for professionals are significant, as are the challenges for companies trying to fill open roles and prevent current employees from being overwhelmed.

The Great Resignation has led to a war for talent and procurement organizations have not been spared. With supply chain risk conditions persisting, and no signs of recovery on the horizon, companies are falling out of sync with operational requirements and consumer demand.

But rather than attempting to hire or tap into the gig economy, many companies are looking to professional services firms and strategic advisory services to close the talent gap. These teams offer the requisite experience, are well versed on best practices, and can be swapped out as needs change.

During this AOP Live session, Joe Payne, SVP, Source-to-Pay and Jennifer Ulrich, VP, Advisory from Corcentric answered live questions about:

  • Which roles and responsibilities naturally lend themselves to strategic advisory services
  • The advantages of leveraging consulting services to address in-house talent shortages
  • How they expect the Great Resignation to affect hiring managers and procurement organizations later this year and early next year

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