A recent report by PMI determined several key factors in acquiring and retaining PM talent and some great tips on best practices.
Organizations need to lead and direct projects and programs—not just manage them. The well-rounded project manager not only has the technical project management skills, but also the strategic and business management skills-, and leadership skills.
When organizations focus on developing and managing strategic talent, they assure the business has the necessary skill sets. And the more mature an organization is in managing strategic talent, the better its performance compared with peers in executing projects that meet business goals, implementing strategic initiatives, increasing revenue, and improving financial performance.
Analysis shows that by focusing on the following six areas—proven predictors of highly mature organizations in managing talent—will boost talent management capability:
- Moving resources from current assignments to next opportunities effectively
- Identifying replacement candidates due to turnover or churn
- Creating broad succession plans across organizational boundaries
- Linking advancement and succession processes
- Stimulating adoption and analytics use among business leaders
- Making required investments in HR technology and proactively improving platforms
Managing project management talent is a matter of having the skill sets to succeed—aligning talent and strategy demonstrates the will to succeed. By focusing on skill and will, organizations ensure they are positioned to execute, grow, and meet the challenges of the future, confident and prepared.
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Here is the full PMI report.
