Supply Chain Specialists Turnover Quickly Due COVID
From 2020-2021 due to the shipping crisis from the COVID pandemic, supply chain specialists have had a high turnover. The profession has become quite lucrative which could explain why supply chain managers were quitting their jobs last year at the highest rate since at least 2016., fueled by a mix of burnout and a desire for fatter paychecks.
LinkedIn compiled a range of data on behalf of Bloomberg. They calculated the rate of turnover by analysing its member profiles to determine the number of people who left their jobs each month. Back in 2016 there was a high rate of people quitting jobs which was called the “separation rate.” The rate this year was comparable with that of 2016.
For supply chain specialists, the average separation rate increased by 28 percent from 2020 to 2021, the highest rate since LinkedIn started tracking the data five years earlier.
Kory Kantenga, a Senior Economist at LinkedIn had this to say. “With increasing opportunities due to supply chain crisis, it comes as no surprise that supply chain managers have increasingly sought out greener pastures. Burnout is also part of the equation for the high turnover.”
As supply chain disruptions intensified at the height of the pandemic, companies went on an overdrive to hire more supply chain specialists. This meant they had a superb advantage in job mobility.
According to a survey conducted last year by recruitment firm DSJ Global, it showed that more than half of supply chain and procurement professionals expected their paychecks to increase in the next 12 months.
“Supply skills are in such high demand these days that job seekers can afford to be picky. Approximately 65-70 percent of supply chain professionals are open to learning about new job opportunities within six months of getting their current position,” said Emily Prendergast, an executive director at DSJ.
“Employers will need to act fast to secure the professionals they need to help their organisations navigate the challenges still to come, meaning hiring managers should be briefed as a matter of priority as soon as a vacancy is identified. With many candidates often having up to four or five job offers to choose from, speed to hire is more important than ever,” Scott Dance, director of procurement and supply chains at Hays, told Supply Management, the Official magazine of Chartered Institute of Procurement and Supply (CIPS).
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