With unemployment rising and the economy taking its toll on businesses, undoubtedly and unfortunately more and more sourcing professionals are or will be looking for work. So right now, many resumes are being updated and interview preparations begun.
When you submit your resume and get called for an interview, the hiring manager will want to dig deep into how qualified you are. So I’ve put together this three-part series to help you better understand what’s on the mind of your future sourcing boss. Today’s installment discusses the common question on the minds of hiring managers: “Was this reported cost savings real?”
Most seasoned sourcing professionals know that it is a good idea to include measurable results on their resumes. So seeing lines like “Achieved $15 million in cost savings” or “Reduced cost by 4% each year” on a resume isn’t unusual.
But hiring managers know that different companies have different standards for recording cost savings. They will want to know if those cost savings would meet the criteria for legitimate cost savings in their organizations.
So, when interviewing, be prepared to demonstrate how those cost savings actually hit the bottom line. If you reduced your prices by 20% but only had 50% compliance, then some hiring managers will consider taking credit for the entire cost savings number to be misleading.
If you can verify how each and every dollar of cost savings you claim on your resume had actually impacted your previous employer’s P&L, you will go a long way towards convincing your future sourcing boss that you are the right candidate for the job. Be prepared to defend your cost savings numbers just as if you were presenting them to the CEO of the organization for which you achieved them.
If your cost savings numbers are believed to be more legitimate than other candidates, it will definitely be an advantage to you.
Stay tuned for parts II and III of this series coming soon.