How Procurement Impacts Staff Wellbeing and Job Satisfaction

Staff wellbeing and retention is in sharp focus for all businesses, following a turbulent and challenging time with the global pandemic.

 

The fallout has led to  a shift in working styles, as burnout and ‘The Great Resignation’ have impacted many organisations.

 

With 7 out of 10 HR (human resources) representatives currently confirming employee wellbeing is on the senior leaders’ agenda.

 

How can Procurement meaningfully impact / support us in managing this?

 

The profile and understanding of procurement and its reach has increased dramatically in recent years.

 

Procurement has been at the forefront of problem solving during the pandemic, from facilitating short notice IT purchases to accommodate more home workers, and managing supply chain resilience on a global scale in light of unprecedented supply shortages, logistical issues, and workforce challenges.

 

There has been a real recognition that procurement can meaningfully impact and support strategic change, it’s not simply about ‘jumping in to negotiate a deal’.

 

With 51% of organisations actively taking a strategic approach to wellbeing and a third of organisations increased their budget for wellbeing benefits in 2021/22, procurement plays a key role in ensuring the strategy is delivering on these elements:

 

  • Achieving the most commercially advantageous solution considering current and future organisational needs, ensuring adaptability to flex as the organisation changes and grows
  • Evaluating innovations and peer reviewing solutions to ensure suitability
  • Deliver the best ROI and optimal product and service solutions based on a business’ exacting needs, avoiding over / under specifying
  • Understanding the options with market profiling and capability assessments
  • Validating and vetting suppliers to ensure businesses are partnering with capable, credible and suitable partners
  • Establishing robust service delivery and performance management solutions to optimise output at commencement and throughout the contract term.

 

In what areas can procurement add-value?

 

From management of benefits from pension/insurance brokers, pension schemes, healthcare services, occupational health services through to flexi-benefits platforms and HR Software, the supply solutions directly impacting staff wellness and job satisfaction are wide ranging.

 

As companies continue to establish their ‘new normal’ in terms of remote versus office-based working and team collaboration and support, procurement is pivotal in supporting in identifying the right technology solutions, at the right price, meeting immediate needs and future proofing technology solutions to enable organisations to flex, change and grow.

 

Another area where procurement is having a significant impact is an organisations ESG (Environmental, Social and Governance) agenda and how this is managed in collaboration with a business’ supply chain. With 60% of employees feeling motivated and passionate about their work when the purpose aligns with their values, employees’ wellbeing, sense of fulfilment and success improves when businesses adopt sustainability practices.

 

But, once organisation have their own staff wellness and wellbeing strategies in place, it’s essential they look to their wider reach and impact, Calathea is a resource that businesses around the UK, and indeed globally, will increasingly come to rely on, to ensure they are partnering with suppliers that align to their values and also those of their business partners.

 

Sources: CIPS, See Change Magazine