MCIPS Member of the Chartered Institute of Procurement & Supply — a professional certification for experienced procurement managers. Like a CPA but for buying.
Retention How well a company keeps its employees from leaving for other jobs. High retention = people stay. Low retention = revolving door.
Turnover The rate at which employees leave and must be replaced. 40% turnover means 4 out of 10 people leave each year and you start over.
CIPS Chartered Institute of Procurement & Supply — the main global professional body for procurement. Sets standards, runs training, and grants certifications worldwide.
Employee Value Proposition The full package of pay, benefits, training, and career growth a company offers — not just the salary. Think of it as "why would someone want to work here?"
Center of Excellence A central team of specialists who own strategy, tools, and best practices. Like a central training academy that makes the whole procurement team stronger.