Protect Your Compensation From 2003's Mid-Year Budget Cuts

PurchTips edition #14

 

Click here for the printer-friendly version.

Will 2003 Be Like 2001 And 2002?

In the past two years, many companies have made mid-year budget cuts. What type of spending has been targeted? The compensation of hard working people like you and me, that's what. Compensation has been slashed in the following ways:

  • Layoff of staff
  • Reductions of salaries
  • Cuts to benefits
  • Elimination of training

What's going to happen to your compensation in 2003? Is there any way to guarantee that you'll get the compensation that you are expecting as of today? Unfortunately, for three of the above categories, there may be nothing you can do. You can't have your employer pay this entire year's benefits now. You won't get your entire year's salary now. But, you can begin taking advantage of the dollars earmarked for your personal training and development. And you should put this aspect of your compensation to work before it falls victim to "Mid-Year Budget Cut 2003." Request permission to attend training today.

By utilizing this year's training compensation now, you will not only be getting training, but as a more skilled purchasing professional, you may be able to justify amnesty from the other type of compensation cuts. Or, if you were to be laid off, you'd have a better chance of getting a new job than those who procrastinated when it came to modernizing their skills. And there is a ton of competition for those few good purchasing jobs.

I know this may sound like a sales pitch from a training company. But, in this message to you, I am not suggesting that you purchase our training. Purchase any good training. From one purchasing professional (me) to another (you), don't turn away the compensation that you deserve. Best wishes for a fully compensated 2003

Do You Want a More Rewarding Procurement Career?

Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.

Earning your SPSM® Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM® Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!

Download

Need Better Performance From Your Procurement Team?

Are you a procurement leader whose team isn't achieving the results you know are possible? Maybe it's not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.

You need a performance improvement plan that's easy to implement and quick to produce results. The NLPA can help.

Download our whitepaper "The Procurement Leader's Guide To A More Successful Team." You'll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.

Download

Are You Getting The Most Out of Your NLPA Membership?

Members of the NLPA get more than just articles like this by email. As a member, you also get access to:

  • The Procurement Training & Certification Starter Kit
  • The latest Purchasing & Supply Management Salaries Report
  • Leading-Edge Supply Management™ magazine
  • Members-only webinars 10x per year
  • And more!

If you haven't been taking advantage of these benefits, why not log in and start now?

LoginJoin