HR procurement is the process of strategically acquiring and managing talent and resources to meet an organization's needs. This includes sourcing, recruiting, and hiring employees, as well as procuring necessary supplies, technology, and services like training programs and benefits packages. The goal is to find qualified individuals and resources that align with company objectives, while managing costs and optimizing performance. 

Key functions of HR procurement

·       Talent acquisition: 

This is the primary focus and involves identifying job requirements, forecasting staffing needs, and executing the full recruitment and hiring process. 

·       Resource management: 

Procuring necessary goods and services, such as office supplies, training programs, benefits administration, and HR software solutions. 

·       Strategic alignment: 

Ensuring that new hires and acquired resources align with the organization's goals and culture. 

·       Performance and retention: 

Monitoring employee performance and managing the employee lifecycle, including onboarding, development, and termination, to improve retention. 

Steps in the HR procurement process

1.    Human Resource Planning: 

Determining the number and type of employees needed through methods like job analysis and demand forecasting. 

2.     Sourcing and Recruitment: 

Attracting and identifying qualified candidates through various channels. 

3.     Selection and Negotiation: 

Evaluating applicants, selecting the best fit, and negotiating employment terms and compensation. 

4.     Placement and Onboarding: 

Placing the new employee in the correct role and integrating them into the organization. 

5.     Ongoing Management: 

Monitoring performance, managing benefits, and ensuring a positive and compliant work environment.