Modern organizations are struggling to hire for a number of critical roles. From data security operations to engineering, disparate divisions within businesses are dealing with staffing shortages that stunt organizational growth and bring down the bottom line, Fast Company reported. However, one particular difficult-to-fill position is creating a unique brand of enterprise disruption: project manager.
Employers will have created more than 15 million new project management roles by 2020, according to research from the Project Management Institute (PMI), which supports 2.9 million project management professionals working around the globe. There are nowhere near enough qualified project managers to fill these roles, leaving businesses without key leadership. Businesses are already struggling to effectively coordinate internal initiatives due to this gap. For example, 90 percent of public sector organizations dealt with underperforming projects in 2016, according to research from KPMG.
In all, businesses worldwide stand to lose more than $200 billion as a result of the project management shortage, PMI reported. What can enterprises do to find qualified candidates for project manager positions? Many human resources staffers are implementing new training and certification programs in an effort to grow project managers from within, according to CIO. Others are working with C-level leaders to map out future organizational moves, predict rising project management needs and kickoff recruitment efforts years in advance.
Businesses that have yet to take these actions should consider doing so immediately, as the shortage will only get worse as time passes. Mark Bashrum, vice president of corporate marketing and enrollment for ESI International, told CIO that 60 percent of PMI members are over the age of 40, meaning many will soon age out of the workforce and leave even more roles unfilled.
With this problem growing, enterprises must act fast and find new methods for funneling talented project managers into their operations.