When visionary leaders share powerful knowledge, it’s not only a kind gesture but also a vital activity for driving change within the sourcing community. That’s why Nicholas Ammaturo, along with a few peers, founded the New York City Sourcing Leaders (NYCSL) group, a team of innovators that pride themselves on bettering the procurement industry through knowledge-sharing and collaboration. Ammaturo is the Senior Director of Global Procurement at Tapestry, a multinational luxury fashion holding company. Under his leadership, his team manages over $500 million in spend, encompassing categories from logistics and transportation to professional services to human resources and finance.
Read on for the latest lessons from the big apple’s most innovative procurement leaders, as told by Ammaturo himself.
Regardless of your role or industry, I’m fairly certain we have something in common. If you’re reading this, then that means you’re passionate, motivated, and determined to be successful. Now imagine the power of connecting with like-minded leaders, who get a thrill from sharing insights on the market’s trends and making their peers shine. This is what the New York City Sourcing Leaders are all about. At past events, we’ve covered “doing it all”, extreme sourcing stories, and top priorities for successful procurement operations.
One hot ticket item is the topic of hiring (and retaining) top talent. How can we raise high-performers in procurement?
At the most recent NYCSL gathering, we broached the subject and dove pretty deep to highlight the importance of a key emerging skill: marketing procurement and the impact it can have on retaining talent.
How do you educate your internal organization on what you do? It’s possibly the most critical aspect to both accelerating your own career and fostering talent. By mastering the skill of marketing procurement, you’ll delight stakeholders, engage suppliers, and help your team perform at an optimal level. When your team feels engaged and aligned with the rest of the business, they’ll have a stronger spring in their step and a deeper connection to what you achieve together.
I’m pleased to share insights from our round-table discussion. At each table, we had a valuable range of insights, all the way from the visionary CPO to the efficiency-focused category manager.
We touched on several topics, such as managing talent, identifying talent, structuring your organization for success, and increasing retention by marketing procurement. Several of these can be applied to any organization and industry, where we would apply a procurement lens:
Host an internal event. Think of creative ways to engage the larger organization with your greater procurement team. One idea is a procurement and stakeholder happy hour, where business partners can converse in a more casual format. Hosting a Travel Fair is another one that is very popular among the NYCSL crowd. It’s a great way to showcase your vendors while giving the larger organization a chance to meet them face to face and get educated on the services they provide. Make it even more engaging by having the travel vendors do raffles and give away prizes.
Pulse check your internal organization. If your larger organization does an engagement survey, invest in reviewing the results and taking them seriously. You are fortunate to have a mechanism to do so. If you don’t have a robust internal review process, you can easily do this with something as simple as SurveyMonkey. It’s important to do something to ensure you have a baseline and can continually monitor and adjust strategies.
Establish an internal presence on a company intranet. A great place to share pertinent information with the organization, policies, FAQ, org charts, etc. Think about how to make the page engaging & informative. Have some fun with it, try not to just focus on the rigidity & controls or policies.
Encourage your teams to manage internal talent profiles. A great way to facilitate conversations on everyone’s future aspirations. Many HR systems have these capabilities and many HR functions recommend associates to manage talent profiles. It’s important to be forward facing with your teams, having a clear trajectory and open communications channels are important to retention and motivating employees.
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