BlackRock and the asset management talent war
It has become axiomatic that leaders have no more important duty than hiring outstanding people, and that continually hiring great people is the only sustainable competitive advantage. In the final analysis, though, how many companies actually have systemic procedures in place that help ensure the best outcomes? How many leaders truly spend the time required to recruit, develop and retain the superstars of their industry?
According to a case study in the latest edition of Harvard Business Review, one answer to that question is BlackRock. The authors of the article say what interested them about BlackRock — founded 25 years ago by eight partners and built into what is now the world’s largest asset manager — is that the firm continues to excel. The article concludes that BlackRock’s formula for success is a companywide embrace of a talent strategy that is “purpose-driven, perf