Product managers play an increasingly central role within any software startup. Research led by Chandra Gnanasambandam, Martin Harrysson, Shivam Srivastava, and Vaish Srivathsan on the McKinsey Product Management Index shows PMs are deeply involved in almost all aspects of product success.

The same research shows that despite PMs being a top priority for software CEOs, they are often neglected when it comes to talent management. “The Product Management Talent Dilemma” explores this paradox between the rising importance of PMs and the under-investment in resources and systems dedicated to finding and developing high-performing ones. The authors outline four specific levers software companies can use to correct this imbalance and formalize a system for recruitment and growth:

1. Articulate a leadership development model for product managers
2. Enable ways for PMs to have continuous growth and learning opportunities
3. Design an end-to-end learning journey for PMs
4. Make hiring a strategic priority. Top senior PMs report spending up to 5% of their time on recruiting

The full article contains further insights from the McKinsey Product Management Index and, among other things, covers the five core capabilities and enabling structures that develop top-tier PMs.

For more insights, please “Join Fuel” (above) and follow us on LinkedIn and Twitter.