The Talent Advantage: How to Attract and Retain the Best and the Brightest

226 Pages·2009·1.37 MB·English

by  Alan Weiss

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Enriched by their broad knowledge of business Praise for A W A N D N A NC Y MACK AY
growth and executive psychology, Weiss and MacKay THE TALENT ADVANTAGE C E
show you how to become an effective, well-rounded K I If you were applying for your job today, would
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leader. Their guidance will give you the tools to S your human resources department hire you?
build the skills, the savvy, and the structure your “The Talent Advantage gives each of us the opportunity to learn Y T H E
organization needs to attract and retain top talent, new ways to accelerate leadership development. Do yourself and your Your answer refl ects directly on your company’s
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maximize departmental effi ciency, and create new employees a huge favor—invest your time in reading this book.” T ability to recognize true talent. To build business,
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avenues of profi tability. —PETER BLAKE W TA LENT move development into new areas, and consistently
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CEO, Ritchie Bros. Auctioneers T innovate, it’s necessary to have the contacts and un-
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derstanding of the best in your industry. A handful
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“The Talent Advantage is the quintessential road map for A of HR representatives has the business savvy to make
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ALAN WEISS is a consultant, anyone who wants to become a successful business leader!” T and nurture those connections. But the majority
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speaker, and bestselling author of —BJORN MOLLER of that knowledge rests in the hands of the most
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Getting Started in Consulting and CEO, Teekay Corporation CA successful executives, who often have their eye fi xed
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Million Dollar Consulting. His fi rm, AL A DVA N TAG E on the bottom line, instead of the line of succession,
Summit Consulting Group, Inc., “Drawing on a wide variety of practical examples, the N that can make or break an organization.
has worked with clients such as authors explain how to create extraordinary leaders through DE

Merck, Hewlett-Packard, GE, Mercedes-Benz, State effective succession planning. The book is a fantastic mix of R As executive coaches with a deep understanding of
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Street Corporation, The Times Mirror Company, stories, wisdom, and practical advice.” T change and challenges in a wide range of industries,
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the Federal Reserve, The New York Times Company, —CRAIG CAMPBELL T Alan Weiss and Nancy MacKay deliver a straight-
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and over 500 other leading organizations. His blog Partner, PricewaterhouseCoopers N HOW TO ATTRACT AND RETAIN from-the-hip critique of the structural obstacles
is www.contrarianconsulting.com. T that impede true progress, and the solutions-based,
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“The Talent Advantage will make you think about talent E THE BEST AND THE BRIGHTEST accountability-driven measures that you must take
Dr. NANCY MacKAY is President management in a new way. The book is full of practical strategies that BD to nurture profi table talent while ensuring business
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and cofounder of MacKay & Associ- can be applied immediately to strengthen your talent pool.” growth and success. The Talent Advantage gives you
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ates Advisors Inc. She coaches and —PAUL WILSON TV the edge with:

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facilitates six CEO networks involv- President, Mark’s Work Wearhouse A
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ing over seventy CEOs. Her clients D • Guidance on a viable succession plan for
include Ritchie Bros. Auctioneers, “Talent is an essential competitive advantage in the TN B B leadership positions at every level
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Teekay Corporation, PricewaterhouseCoopers, RBC new economy. This book is full of practical tips and techniques to • E xamples of executive leadership crises, the
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Royal Bank, TELUS, Methanex, Best Buy, and many give companies an edge in the war for talent.” obstacles they faced, and how they fi xed their
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other leading organizations. For more information, —CHAD HILEY RA problems
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please visit www.mackayandassociates.ca. Vice President, Human Resources, Barrick Gold Corporation G • Ways to create accountability for executives,
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HR, and new employees themselves as their
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JACKET DESIGN: CHRIS WALLACE EE careers develop
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JACKET IMAGE: CHESS PIECES © LES CUNLIFFE/AGE FOTOSTOCK T • Techniques to give HR a voice and real
power in the building of both business
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• W ays to break down the communication silos
that inhibit information sharing throughout
a company
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John Wiley & Sons, Inc.
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Copyright © 2009 by Alan Weiss and Nancy MacKay. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying,
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the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978)
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Publisher for permission should be addressed to the Permissions Department, John
Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, [phone], fax (201)
748-6008, or online at http://www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have
used their best efforts in preparing this book, they make no representations or
warranties with respect to the accuracy or completeness of the contents of this book
and specifi cally disclaim any implied warranties of merchantability or fi tness for a
particular purpose. No warranty may be created or extended by sales representatives
or written sales materials. The advice and strategies contained herein may not be
suitable for your situation. You should consult with a professional where a ppropriate.
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commercial damages, including but not limited to special, incidental, consequential, or
other damages.
For general information on our other products and services or for technical
support, please contact our Customer Care Department within the United States at
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ISBN: 978-0470-45056-7
Printed in the United States of America
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To my mother and father, Jack and Roseanna Weiss.
— Alan Weiss
With love and appreciation to Rob, Garrett, and
Devon, who bring me joy and happiness every day
of my life.
— Nancy MacKay
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Contents
Acknowledgments xi
Introduction xiii
About the Authors xv
Chapter 1 Why Leaders Must Fight the Battle 1
Human Resources is to Talent Search as
Airplane Food is to Fine Dining
Strong leaders attract strong people 3
Threatened subordinates sink the ship 8
Staff functions are, well, staff functions 13
Would YOU be hired by your own HR
department today? 17
Chapter 2 The Five Failings of Non-Extraordinary
Leaders (and their cures) 21
The Leaders’ Dysfunctions Become
Everyone’s Dysfunctions
Priorities: Not making the priority list 23
Assessment: Not knowing it if you tripped over it 27
Exemplar: Setting the wrong example
(cognitive dissonance) 30
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CONTENTS
Connections: Career development divorces
succession planning 31
Women: Not understanding male fi lters 33
Chapter 3 The Three Priorities of the
Talent-Seeking Leader 39
How to Accelerate and Simplify the
Search for Top People
Winning the war for talent: People 42
Strategy development: Involving the
right people 45
Strategy execution: Creating a culture of
accountability for results 48
Chapter 4 Talent is More Than Pure Performance 57
We’re Not Talking About Performing Seals
What is talent and why does it matter? 59
The difference between good and
outstanding 65
Talent “outs” 68
Assessing your resources: The talent test 70
Chapter 5 The Semi-Renewable Resource 75
You Can Replant Trees, but Talent
Doesn’t Grow so Easily
If talent were readily renewable, every
company would be excellent 77
Trees don’t move, talent does 84
Talent isn’t forever—it can obsolesce 88
The last thing you need is parity 90
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