Narrowing the Talent Gap
Summary
As a result of economic growth and increasing projectization, the demand for project managers is expected to soar in the coming decade. At the same time, the collective impact of demographic trends, retirements, and cultural shifts in the workplace, will create a shrinking talent pool that is insufficient to meet demand. PMI and PwC’s latest global research indicates there is a lack of awareness, or perhaps some complacency, among project-based organizations of the risks that lie ahead, and the potential detrimental impact that the talent crisis will have on projects and their ability to meet strategic goals in the future.
This paper highlights what organizations can do to minimize the impact of the crisis. Our research points to actions that make it easier to attract, develop and retain talent, as evidenced by the strategies taken by ‘high-performing’ organizations – those we have called front-runners – who find recruiting project managers less challenging. And we discuss the need to refresh the image of the profession to one where project managers are viewed as strategic partners and changemakers rather than tactical troubleshooters.