5 reasons why millennials are perfect procurement candidates

Who is the generation Y employee?

There is plenty of reports on millennial behaviors, their adaptation abilities, their view, preferences and habits. Let’s look at some of them.

1. Constant change. A Gallup poll found that 21% of millennials change jobs during any given year, and 50 % of them are not going to stay at their current job for the next year.

2. Obsessed with technology and social media. Nielsen research shows that 74% of millennials think that technology significantly simplifies their work and 72% of millennials use Facebook actively as a communication platform. 84% of the generation Y representatives sleep with their smartphones under the pillow.

3. Influence on business growth and constant challenges. Millennials are mostly motivated by what they are doing and what impact on their coworkers and market they have rather than high salary. Organizational culture is more meaningful to them than formal work conditions.

4. Reward and recognition. They like to be rewarded and need constant feedback on their work. 72% of millennials, who get regular feedback are satisfied with their jobs.

5. They are not attached to traditional brands. They are willing to choose new products, follow trends and borders don’t really matter for them.

Why generation Y representatives can become good buyers?

Taking into account most popular millennial characteristics, it is quite obvious that they reflect most wanted and the best competencies of procurement team members.  

Changes.

Working as procurement professionals millennials may experience different aspects of the industry. Procurement teams expand their roles into other areas of the organization and millennials will find opportunities to grow and challenge themselves within the organization. Thanks to that millennials are more likely to keep the job and not to consider company or job profile changes.

Technology.

Procurement process automation seems to be inevitable (read Automation needed ASAP). Millennials are comfortable with technologies, they learn really fast and they are able to adopt a technology solution that systematizes procurement functions. They may be also great teachers for less technology driven employees.    

Influence on business growth.

Procurement and supply chain professionals directly impact a business’s sustainability and grow. Company strategy very often depends on buyer decisions. That’s why millennials as procurement professionals are satisfied with their jobs as they are not just members of the teams, but actually build business.

Rewards and recognition.

Contributing to the company’s bottom line through building relationships with suppliers and negotiating best contract conditions will be the most valuable feedback for a millennial. Taking care of company product quality and generating real savings make generation Y buyers strongly engaged. Measurable results provide regular feedback and make millennials feel satisfied with their job.

New trend.

A buyer who is seeking new trend and for whom the Internet has no secrets from, is able to find unexpectedly the best solutions. Attachment to traditional brands is not always most effective. Sometimes it is good to do a little research and trust new products or try something non- standard. For example, instead of prolonging a framework agreement with a tax corporation for many years, let’s try new (often cheaper) application. Or instead of buying a standard software, let’s try something from start-up offers.

Certainly, the innovative approach of millennials will not replace previous generations’ knowledge and experience. A perfect team includes a mix of approaches and experiences. It’s essential to take advantage of a team potential, taking into consideration individual competencies and characteristics. Then –  the success guaranteed!