When it comes to procurement compensation, every survey and report reveals the same trends we have seen year after year. Sure, according to some, the pay gender gap is narrowing – although, for women entering the C-Suite as CPOs, the gap is actually widening.
Another finding is that procurement still has a long way to go compared to other professions. For example, CFOs make considerably more money than CPOs. CFOs make between $377,796 and $555,289 annually, if you want specific numbers. Their CPO counterparts earn between $203,500 US and $266,545.
These reports - which are informative and useful, tell you where the profession is in earning capability. However, it doesn't tell you where it should go and how to get there. In other words, to change the numbers, you might have to change the game.
Joining Procurement Insights' Jon Hansen will be a panel of industry thought leaders who will answer the compensation question through the introduction of a variety of different (and creative) models, including:
- Commission-based Sourcing
- Creating a Self-Funding Subsidiary
- Establishing an Internal but Independent Outsourced Service
Register now to secure your spot for this for this first-time, once in a lifetime discussion on compensation.