Getting Back to Basics

A 2 percent economic growth rate for 15 years would increase the demand for executives by about a third. Meanwhile, supply is moving in the opposite direction: the number of US 35- to 44-year-olds will decline by 15 percent from 2000 to 2015. Companies must therefore make talent management a top priority, create and perpetually refine their employee value proposition, and source and, above all, develop talent systematically while removing underperformers.

 This is a quotation from McKinsey and Co from a paper on talent management.  So when was it written?  Last week, last month or last year?  Actually they wrote and published it in 1998 (Number 3).  It has been republished for Premium Subscribers here.  And guess what?  Nothing much has changed apart from increasing competition from economies like China and India for the very same talent. China has a looming talent shortage, yes China!  Isn’t talent the issue of the next decade for most companies in most places?

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