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Killing it like a hooker in Hong Kong

The straight talk on talent shortage

I loved this quote in the WSJ today:

“When executives talk about a talent shortage in their ranks, they’re really talking about a commitment shortage,” which stems partly from pay inequality, says Rakesh Khurana, an associate professor at Harvard Business School. “The greater the inequality, the less willing employees are to learn specific company ways of doing things that aren’t going to be useful to their next employer.”

He says less than one-third of M.B.A. graduates from elite business schools are pursuing corporate management jobs, compared with two-thirds in 1970.

WSJ Link

Unbelievably true. I’ve seen this in every damn company in Singapore and Asia. As Chief Exec of a corporate, you’ve gotta hold down costs, meaning the compensation of the people who work for you, while keeping your staff.  Keep em happy enough to stay with you, but pay them as little as possible…

The second point, that less than one third of elite b school grads head to corporate jobs, is absolutely true. WSJ surveys of b schools for example, which are somewhat different from other surveys because they ask corporate recruiters which b schools they like, show HBS and GSB at the bottom, because students there have many other options than the typical corporate training program. Notably consulting, private equity, hedge funds and investment banking.

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April 28, 2008 Posted by | Uncategorized | , , | Leave a comment