Whether you're ready or not, we Gen Y-ers are spreading through the workforce like wildfire. And what's next? Gen Z is just around the corner from joining the party. Should companies have prepared for this change? YES. If changes were not made for the immersion of Gen Y-ers, take that as a learning opportunity, and implement "next" practices in preparation for the next round of Millennials, Gen Z. The Millennial generation has a much different take on the workforce and what the future looks like. This is neither a good nor a bad thing. It is exactly what it sounds like: different.
Let's talk stereotypes.
Millennials: pretentious know-it-alls who possess a dire need for instant gratification...whether they deserve it or not.
Baby Boomers: People typically old enough to be our parents who firmly believe in their systematic ways...Why? Because they said so!
Is there some validity to both stereotypes? Sure. But I think it's more prudent to say that baby boomers DO know what they’re doing...after all, they've been out there doing it for much longer than us rugrats. However, do we Millennials have a fresh take on new practices? Of course! So where do we go from here? We have two TOTALLY different generations TRYING to work together. My attempt at a compromise:
Ashley Walsh, Marketing, Social Media and University Outreach Coordinator, SIG
Oil and Gas firms had a rough ride in 2014; the oil price dropped to below $50 USD a barrel, salary freezes were implemented and thousands of staff members were laid off. As the purse strings of oil and gas producers tighten, the importance of controlling costs and managing spend become ever more apparent. In order to succeed in the changing oil and gas environment, firms need to first understand how to get more from the money they spend (enter procurement). Listed below are a number of the key areas that oil and gas firms are likely to focus on over the coming 12 months. Also outlined is the critical role that procurement functions can play in helping their organization to achieve success in these areas.
Diptarup Chakraborti, Vice President, Global Marketing, Zycus
Since the New Year has arrived, it's time now for the annual onslaught of Procurement Prognostications for 2015. Of course a year from now, what actually transpires may bear little resemblance to what was predicted – and who really goes back and reconciles results with resolutions anyway? But at least in this case, an educated guess can be made as to what procurement leaders will actually be focused on in 2015, based on their responses to a recent joint survey conducted by Zycus and The Hackett Group of over 200 procurement leaders and practitioners.
Richard Waugh, Vice President, Corporate Development, Zycus Inc
What is the source of procurement's value to the enterprise? How do organizations become more effective and efficient in achieving sustainable cost savings? How can procurement deliver even greater value to the enterprise? These questions are essential to the continuous improvement of the sourcing and procurement function. They are the questions at the foundation of the IBM Institute for Business Value (IBV) Chief Procurement Officers (CPO) Study which examines the "journey to value" for procurement organizations – and details the specific procurement strategies that drive business results and bottom-line impact. The study, based on a survey of more than 1,000 procurement executives across more than 40 countries, takes a deeper look at "procurement role models," the 100+ companies in the study that achieved the most impressive revenue and profit performance relative to their industry peers. The research identifies three common attributes that tend to separate these procurement role models from the pack. These high-performing procurement organizations:
Matt McGovern, Market Segment Manager - IBM Procurement and Contract Management Solutions