The Art of Talent Acquisition Procurement – from Transactional to RFPs

As a Talent Acquisition (TA) leader, there are a vast number of hats you wear, ranging from a tech expert to a commercial leader. One vital skill that is often left to be learned on the job is TA procurement – an area where your prowess is absolutely essential for the effective and efficient management of your function and budget. Let's delve into this more.?

?

Firstly, it's important to know that procuring solutions in TA isn’t a one-size-fits-all approach, much like running two recruitment campaigns that might appear identical but demand unique strategies. A range of factors determine how you approach procurement. From time constraints to the complexity of the service you're buying, your own understanding of the product or service, or the rules and processes your company has in place, all need to be weighed in.?

?

Procurement roles and responsibilities might range from you being the sole decision-maker to having a full team of stakeholders depending on the complexity of your company. Regardless, understanding and clearly articulating these responsibilities at the start of the process is crucial.?

?

Moving on, let's talk about transactional procurement. At times, your purchase may be small-scale or a simple point solution, rendering a complex process unnecessary. This does not mean all checks and evaluations should be disregarded. On the contrary, due diligence must be done albeit on a reduced scale.?

?

Here's a nugget for you - a Request for Information (RFI) is an effective way of addressing procurement challenges. An RFI is a questionnaire that asks vendors for general information about their company and the solutions they offer. Think of it as a tool that educates you, the buyer, about the potential vendors, thereby facilitating informed decision-making.?

?

Contrarily, a Request for Proposal (RFP) signifies readiness to buy and that a contract is forthcoming. An RFP process is all about structure, trust, integrity, and intelligence, which is why running a robust RFP process requires upfront planning to ensure the best outcomes.?

?

It's crucial to build your RFP around some key factors - vendor's supply capability, their understanding of your needs, their financial stability, and their regulatory compliance. Be mindful of the size of the deal while building an RFP and balance the need for detail against the risk of 'no bid' decisions from vendors.?

?

The procurement journey doesn't end with selecting a vendor, though. Contractual negotiations mark the beginning of a partnership with your vendor. It’s not a battle or a poker game, but a mutually beneficial relationship. Make sure to disclose any 'hard lines' or firm requirements upfront to avoid surprises later.?

?

Lastly, remember the importance of implementation. Successful implementation and vendor management are paramount to ensure that the negotiated contract terms are met, and the defined KPIs are achieved. A well-conducted vendor implementation process is the cornerstone of a robust supplier relationship.?

?

For a more detailed and comprehensive guide on this topic, check out our Talent Acquisition Insights Series , where you’ll find series of insights papers and accompanying support packs, designed for HR, TA & Business leaders looking to examine, improve and/or build their capability in hiring top talent effectively.? Produced by the team at Join Talent, the only practitioner built & led management consultancy and embedded talent solutions provider in the market.?