What is the Desired Outcome of Assessing Procurement Competencies?
The desired outcome of Competency assessment is to gain a realistic view of whether your team has the necessary skills and knowledge to deliver high performance of their role-based tasks consistently.
Why is Assessing Procurement Competencies Important?
- Assessment of procurement competencies is an essential component of both employee and career development beyond the organization’s routine performance appraisals.
- Competency assessments provide information about potential knowledge deficits that interfere with the successful performance of role-based skills.
- If knowledge deficits exist, the Competency assessments can be instrumental in identifying specific areas of weakness and developing individualized development programs to address those areas, strengthen the participant’s knowledge base, and enhance on the job performance.
- Alternatively, the Competency assessment can provide evidence of proficiency that qualify certain participants as mentors, teachers, and leaders in the organizations setting.
Procurement Competencies and the link to organizational performance
- Procurement competency is an essential part of the organizational performance. A study of procurement excellence found that leading procurement organizations continue their journey toward procurement excellence by:
- Integrating with the business units and regions has increased their relevancy, influence, and impact.
- Expanding their use of leading practices.
- Achieving breakthrough financial results from procurement— delivering benefits at a rate ten times greater than the cost of their people, technology, and external support.
Leading procurement organizations have achieved these benefits by:
- Building high-performance teams as a catalyst for increased business alignment
- Reducing costs through category excellence
- Creating competitive advantage through supplier capabilities
- Investing in the procurement team to deliver durable, superior performance
Before you can start building the capacity to produce these benefits for your firm, you must first have developed a robust competency framework for your procurement organization, comprising the mission-critical competencies necessary to deliver on the business strategy. The competency framework is your blueprint for success.
Next, you must design the assessment capable of determining if your team has the required knowledge for their role and to identify any gaps. Gaps can be used to construct personal development programs to help raise your team’s performance towards your targeted level.
With our iProcure Platform, we bring the very best in assessment framework construction and delivering test that leads the market regarding validity, reliability and equitable outcomes.
Investing in the procurement team – What leaders do
To help ensure that their procurement organization will continue to deliver and sustain superior results, leaders are investing in their teams’ capabilities and the pursuit of procurement excellence.
Leaders invest to increase procurement team members’ capabilities, built around their competency framework. They use assessment results to develop a planned training and development roadmap, invest to ensure the skill advancement takes place, and routinely review the capabilities required to realize the procurement vision.
With the continued evolution of procurement and supply markets, leaders are actively addressing the needs their procurement team.
They use personal and career development opportunities to attract the best talent, and assessment outcomes to manage the movement of employees through the organization.
Leaders enhance their teams’ capabilities, by leveraging enabling assessment technologies to strengthen analytics and support critical knowledge management.
Almost all leaders capture and share procurement knowledge and invest in intellectual capital development. They train their teams to use conduct category management and manage their suppliers for competitive advantage.
If you would like to learn how we can help you develop your procurement team to greater heights and achieve procurement excellence, we would be pleased to listen to learn more about your situation and discuss your needs.