The Battle for Talent

I'm beginning to wonder if this whole "battle for talent" thing is a bit of a snare and a delusion that companies are going to get themselves caught up in. I recently read an article that talked about the likelihood that there will be a shortage of something like 3 million managers by 2010. That's only three years away and companies appear to already be scrambling to replace their departing and retiring middle managers. What I am finding interesting, however, is that many of them seem to be looking for an almost exact replacement for the person they just lost. In other words a highly trained specialist.

Even if companies are able to fill some of these "specialist" positions in the short run, that does still not help with their more macro problem of an overall shortage. It would seem to me that companies today should treat the talent pool much in the way that sports teams do. That is take the most talented person available and help them grow into the position. In other words focus on hiring less specialized employees and go looking for the best generalists available. Sure they may not have the absolute specific skills that the departing person has, but in the long run their ability to address needs across multiple jobs and functions will probably be more valuable than having someone who can only handle one or two specialized jobs.

What's your company's strategy for addressing the coming talent shortage? Are you trying to replace the people who are leaving today, or are you taking a more strategic view of hiring and looking for people who can contribute more broadly to your organization. It may require an adjustment to your business model and management structure today, but it will pay off in the end.