Computerworld has published a great interview with Douglas A. Ready, co-author of a recent article in the Harvard Business Review about "talent factories." While these pieces are specifically addressing the need to cultivate talent for management positions, their findings have implications for the project workforce as well.

The Computerworld interview is here: "How To Build a Talent Factory."

The abstract for the HBR article is here: "Make Your Company a Talent Factory," by Douglas A. Ready and Jay Conger.

In the HBR, Ready and Conger describe two case studies: Procter & Gamble and HSBC Group. Each of these companies has very different processes in place for attracting and cultivating talent, but they share these fundamental principles in common:

• Functionality–rigorously-followed business processes for recruiting, training, and succession management that are designed to align with real strategic objectives
• Vitality (a wonderful concept!)–a commitment to the emotional side of the equation, addressing how leadership’s daily actions foster passion and engagement.

What does this mean for line of business and project managers who have to recruit talent for project-based work? Douglas A. Ready states in the Computerworld interview that the principles of functionality and vitality can apply at any level:

By all means, start with the areas that you can control and influence. There are lots of lessons from talent factories that you can duplicate. Start with your function or region. Then talk up the successes you’ve had: stronger retention, better accept-to-offers ratios, stronger engagement scores — those can give you confidence that talent initiatives are starting to bring about results. Then colleagues may follow your lead.

Project managers, PMOs, HR, services organizations, and anyone who regularly manages and staffs project teams need also to be aware of Functionality and Vitality. Without talent to feed their project workforce, companies will lack or lose their competitive advantage. This applies not only to management positions but also to contractors or employees who are hired for contract work on or assigned to specific projects.