Category Manager - HR, Recruitment & Contingent in England

At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions. Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent. We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.

The Category Manager is the commercial owner of the HR, Recruitment and Contingent category and acts as an internal commercial consultant to the business. Success is measured by realised cost reduction across the category and by the value the business places on Procurement’s advice.

M&G Procurement is on a transformation journey, our objectives include:

• Identifying and delivering material, recurring cost reduction on M&G third-party spend;
• Materially improving how the business experiences Procurement, measured through an internal NPS.

To achieve these objectives, Procurement is moving from a business unit aligned, generalist model to a category structure that operates as an internal commercial consultancy. The UK team offers the business deep category knowledge, strategic sourcing capability and negotiation expertise, so that M&G can compete with its vendors on commercial strategy.

Key Responsibilities

• Build, own and execute the category strategy for HR, Recruitment and Contingent, based on a detailed understanding of supply market structure, vendor commercial models, cost drivers and market trends.
• Maintain living category plans covering market analysis, supply base segmentation, demand profiling, route to market and savings opportunities.
• Develop commercial strategies for key vendors well ahead of renewal, so that M&G negotiates from a position of insight and has credible alternatives.
• Lead high-value sourcing events and negotiations, including setting the negotiation strategy, BATNA and walk-away position, managing concessions and holding positions with incumbents.
• Manage senior supplier relationships under commercial pressure.
• Design sourcing events and evaluation criteria, and decide how much process each event needs based on its value, risk and complexity.
• Introduce competitive tension into renewals and new commitments.