Post #857 – July 29, 2020
Suffering Human Capital Obsolescence: Partners Doing the Same Old Schtick!
In most firms, my observation is that we seriously over-invest in the efficiency (“let’s provide a discount” or “do more for less”) arena and under-invest in having partners working to build their skills – in order to deliver greater recognized value.
As a general rule, firm leadership needs to help partners understand that they are in competition will millions of other professionals all over the world, capable of doing the same work that they can do, and that the sad news is that: “nobody owes you a career. To continue to be successful you must continually dedicate yourself to retraining your individual competitive advantage.”
In the long run, superior competitiveness derives from having an ability to build skills faster than competitors, and with the kind of knowledge and skills that germinate new practice niches.
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