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Poor HR strategies may cause management skills gap
Corporations' failure to recruit executives in the downturn could lead to a management skills gap in some sectors.
That is according to the business consultancy firm PricewaterhouseCoopers (PwC), which claimed that companies who have sidelined their talent management strategies during the recession may experience a lack of executive leadership upon recovery.
Mick Holbrook, director of organisation and people development at PwC, highlighted the professional services firm's own recruitment policies in the last recession as an example of the pitfalls of poor talent management.
Speaking to HR Magazine, he said: "During the recession of the 1990s big firms experimented with reducing the graduate intake. When the upturn [arrived] management skills were in short supply and we were left with real gap."
Mr Holbrook added that this mistake could have serious consequences for a number of firms in the coming months, unless they are able to hire experienced individuals to fill executive gaps on a temporary basis.
The consultancy firm Deloitte suggested last month that similar problems could occur in the UK's IT industry in the near future, because of the sector's fast moving technological development, computing.co.uk reported.
Categories: Board & CEO