Knowledge Base - Executive Search
The Search for Talent
Over the past decade, talent has become more important than capital, strategy, or R&D. Think about the sources of competitive advantage that companies have. Capital is accessible today for good ideas and good projects. Strategies are transparent: Even if you’ve got a smart strategy, others can simply copy it. And the half-life of technology is growing shorter all the time.
For many companies, that means that people are the prime source of competitive advantage. Talented people, in the right kind of culture, have better ideas, execute those ideas better – and even develop other people better. As Larry Bossidy, the CEO of AlliedSignal told us, “At the end of the day, we bet on people, not strategies.”
Why is that a good idea? The world is changing so fast, it’s difficult to see around corners. Things don’t always work. And when they don’t work, what you can fall back on is talent.
By Ed Michaels, Director-McKinsey Co.