PEOPLE & SKILLS
STATE OF FLUX
2014 GLOBAL SRM RESEARCH REPORT
134
TRAINING INVESTMENT
We see steady progress as SRM becomes better defined and organisations establish their preferred operating model. Part of this increased understanding of SRM is of the skills and competencies required, and that is where the supply and demand gap starts to emerge. The message is clear and simple: SRM depends to a huge degree on the interaction between people. + Our people do not possess the requisite skills to performthe role to its full potential. In particular they lack the so called ‘softer’ relationship management and development skills. + We are not currently investing sufficiently in training to develop their skills. = Sub-optimal SRM.
Closely related to, and without doubt a causal factor for the situation described above, is the apparent decline of investment in training. Our research suggests it is lower now than when we started in 2009. At that time over half of companies responding to our survey said they were at least making a moderate investment in SRM related training. By 2012 that had fallen to 43% and in 2014 the figure is 39%. Yet companies who we’ve identified as leaders in SRM (i.e. demonstrating benefits from investing in SRM) are also the ones that are making the training investment. Training needs to reflect the operating model and should include the SRM core teammembers, SRM practitioners and members of the wider cross-functional team, executive and suppliers.
COMMITMENT TO TRAINING
At this point it appears that only 50% of companies are planning to carry out any SRM specific training in the next 12 months. Amongst leaders, fast followers and followers, the figure is higher but not at a level that will change the picture appreciably. SRM is a people-led activity and we must invest in people as our greatest asset. Plans and budgets need to be put in place now to up- skill SRM people and deliver its true potential.
Essentials
ö ö Manage performance with goals and objectives that drive both delivery and appropriate behaviours. ö ö Ensure execution through cross-functional teams becomes the norm. Contact us on +44 (0)2078 420 600 or email us at
ö ö Define and position the SRM role to attract and retain the best talent. ö ö Create a specific skills / competencies inventory and conduct capability assessments. ö ö Train for both technical and behavioural skills across the SRM core team; SRM practitioners; and operational teams, executives and suppliers. ö ö Give serious consideration to the relative merits of a dedicated role versus a combined role.
enquiries@stateofflux.co.uk to discuss people and skills development.
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