Symposium Experts Offer Tips for Winning the Talent War

 

The war for project talent rages around the globe — and many organizations are paying a heavy price because they can’t execute strategy.

Talent deficiencies hamper 40 percent of all strategy implementation efforts, according to the latest installment of PMI’s Thought Leadership Series, Talent Management: Powering Strategic Initiatives in the PMO. Unveiled at the PMO Symposium 2014, the series features surveys conducted with The Economist Intelligence Unit, PwC and Human Systems International.

“We know that organizations cannot find the right qualified people. … There’s a capacity issue, and then there’s a capability issue,” PMI president and CEO Mark A. Langley said during the symposium’s opening session.

According to the series, more than 70 percent of executives recognize talent management as a driver of strategy, but just 41 percent of organizations have a clear approach to strategic talent development.,

And this is where PMOs have a key role to play.

Yet as PMOs shift from a “run the business” model to a “change the business” model, talent sources must shift as well, Anthony Gayter, vice present of global program portfolio management at HP, said during the opening panel discussion on talent management.

PMOs have typically been run by former project managers, but many organizations are now also looking to business schools to find strategic talent. But there’s a problem: Although programs and projects are at the center of most organizations, traditional business school curricula don’t train students in project management.

Business schools have “to realize that project management isn’t just a series of project charts — it’s a strategic part of business going forward,” Mr. Gayter said.

During his keynote address, NASA chief knowledge officer Edward Hoffman, PhD, outlined what he called the “4 As” of talent management

• Ability: Establish governance to demonstrate the organization’s commitment to growth and development.
• Attitude: Create a knowledge-sharing environment by providing access to senior leaders.
• Assignments: Leverage projects to increase experience.
• Alliances: Build internal networks to facilitate communication and collaboration.

Just because someone has valuable skills doesn’t mean they’ll be motivated to advance in an organization, Dr. Hoffman said. Organizations must cultivate talent by offering meaningful work and offering opportunities for them to grow and develop.

“Most successful people have had assignments that are increasingly challenging and complex, and that give them the courage to move forward,” Dr. Hoffman said.

During another panel discussion on Tuesday, David Perna of PwC said the CEO mood shift from survival to growth is spurring questions about capabilities, such as:

• Can you attract and develop leadership and project management capability globally?
• Does your enterprise have the agility to recognize and respond quickly to new opportunities for innovation and growth?
• Do you have enough people to lead and manage your strategic initiatives?
• Does your employee culture foster commitment from top performers and innovators?

To win the talent war, organizations must rethink their approach, said Mary Lyons of PwC during the panel discussion. And that will require broad leadership support, commitment to cultural change and a solid business case to sustain momentum.

Executives and human resources leaders must also join forces and govern the talent improvement effort together.