Mick Holbrook, director of organisation and people development at PwC, highlighted the professional services firm's own recruitment policies in the last recession as an example of the pitfalls of poor talent management.
Speaking to HR Magazine
said: "During the recession of the 1990s big firms experimented with reducing the graduate intake.
When the upturn [arrived] management skills were in short supply and we were left with real gap."
added that this mistake could have serious consequences for a number of firms in the coming months, unless they are able to hire experienced individuals to fill executive gaps on a temporary basis.