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If you’re hiring a Project or Transformation professional this quarter, here are some things you need to know…
Successful projects don’t just happen. And whilst there are many parties involved in the successful delivery of a project or transformation programme, Project management is often inconspicuous, as its success lies in the absence of problems, cost overruns, time delays, and deferred project or program delivery.
Project and Transformation talent are often the unsung hero’s in an organisation. So, finding the right talent to deliver your organisations project or transformation programme is important.
In Barden we know the Projects and Transformation landscape and we know the talent that exists in that space. Here are a few considerations that might be helpful if you are thinking of bringing new project or transformation talent into your organisation in the coming months.
# 1 Project and Transformation professionals – verticals
In Barden we categorise Project and Transformation professionals across 3 different verticals as follows:
- Subject Matter Expert
- IT / Technology Expert
- Project Management expert – Function & Technology Agnostic
This can be a very useful way to categorise the type of talent you are looking for within your organisation. It will of course be dependent on the project or programme of work you are looking to deliver. It is worth noting that most projects will have a number of these verticals; for example when delivering an Enterprise Resource Planning project a technology project manager with expertise in delivering ERP projects will work alongside SME’s in areas such as Record to Report, Order to Cash, Finance & Controlling. Let’s explore the verticals in more detail including typical characteristics and examples.
An important aspect to highlight at this point is Change Management, as it forms an integral part of all projects. It recognizes that successful project outcomes not only depend on technical aspects but also on how well people adapt to and embrace the changes. It ensures a structured approach to handling the human side of change. Effectively managing and communicating changes to stakeholders helps mitigate resistance, fosters a positive organizational culture, and maximises the likelihood of successful project implementation and long-term transformation success.
#2 Base/Salary Considerations
In order to define the “Vertical” outlined above a number of variables must be considered and will include internal and external factors. The variables that are relevant to the role you are hiring for matter a lot and will play an important factor in defining the base salary and overall remuneration package. Bespoke salary advice based on your unique set of requirements is always the best approach to benchmark salaries for the talent required in the project and transformation space. We have provided below some general guides along with an overview of the variables to consider, some include:
- Technology or SME expertise – a project requiring specialized skills in areas such as agile methodologies, system and IT expertise or specific industry expertise can contribute to higher salaries.
- Project Complexity – The complexity and scale of the projects managed often comes with higher compensation.
- Industry and Sector – Project and transformation talent working in sectors like finance, financial services or IT may receive higher compensation due to the specialized knowledge and complexities associated with these industries.
- Responsibilities and Scope – Project managers overseeing a portfolio of projects or managing cross-functional teams may receive higher salaries compared to those handling smaller, less complex projects.
- Market Demand & talent availability – The demand for project management and transformation professionals in a particular region or industry can influence salaries and may lead to increased compensation.
- Location – a key factor in salary levels. For example, you can expect a 10-15% reduction on salary scale when considering appointments outside of Leinster.
Useful resources for project and transformation professionals are included below including support services for those operating in the Contract space. For statistical and reward information see salary data from The Project Management Institute & Professional Development.
- The Project Management Institute – Salary guide
- Professional Development – Salary guide
- Contracting Plus – Services for those operating as a Contractor on the Irish market, including daily rate calculator, tax considerations, accounting services & useful insights.
- Fenero – Contracting solutions including tax and accounting services.
Context is very important when considering salary guides as consideration of variables above is a relevant factor. For bespoke advice please contact our team; Catherine.drysdale@barden.ie (Leinster) or jane.olden@barden.ie (Munster).
#3 Talent Availability
Here are some data points about the Project and Transformation talent pool in Ireland this quarter:
#4 Projected Challenges for the next 12 months
The Project Management Office within any organisation will continue to play a vital role, especially in the context of the heightened focus on business transformation. Nonetheless, the profession is likely to face some challenges as we enter into the new year. Some of those to consider include:
- Digital Transformation: With the continued advancements in technology including technologies like GenAI, machine learning and automation, project management professionals need to get on top of how these technologies can and will enhance their roles. They should be viewed as enablers, focusing on how AI-powered project management tools can streamline tasks, optimize decision-making processes, and enhance overall project outcomes.
- Remote Work Dynamics: The continued shift to remote and hybrid work models will continue to pose challenges for project management in terms of team collaboration, communication, and maintaining project visibility. Defining if advanced technology can be used to enhance planning and collaboration across remote teams.
- Cybersecurity considerations: With increased utilisation of digital tools, project managers need to be vigilant about cybersecurity threats and ensure the protection of sensitive project data. They should work closely with relevant stakeholders in the business to ensure areas of concern are highlighted and addressed to minimise any risk.
(This information is accurate as per January 2024 and will be updated periodically. Data sources include Barden Proprietary Data, LinkedIn Analytics and other 3rd party data sources. If you have a request and would like real-time information to inform your hiring decisions contact Catherine Drysdale at catherine.drysdale@barden.ie or Jane Olden at jane.olden@barden.ie)