The truth about talent : a guide to building a dynamic workforce, realising potential, and helping people to succeed PDF
Preview The truth about talent : a guide to building a dynamic workforce, realising potential, and helping people to succeed
The Truth About Talent The Truth About Talent A guide to building a dynamic workforce, realizing potential and helping leaders succeed Jacqueline Davies and Jeremy Kourdi This edition first published in 2010 Copyright © 2010 John Wiley & Sons Ltd. Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom Under the Jossey-Bass imprint, 989 Market Street, San Francisco CA94103-1741, USA www. jossey-bass.com For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www. wiley.com The right of the author to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. 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, recording or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Designations used by companies to distinguish their products are often claimed as trademarks. All brand names and product names used in this book are trade names, service marks, trademarks or registered trademarks of their respective owners. The publisher is not associated with any product or vendor mentioned in this book. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold on the understanding that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional should be sought. Library of Congress Cataloging-in-Publication Data Davies, Jacqueline. The truth about talent : a guide to building a dynamic workforce, realizing potential, and helping leaders succeed / by Jacqueline Davies and Jeremy Kourdi. p. cm. ISBN 978-0-470-74882-4 (hardback) 1. Employee motivation. 2. Personnel management. 3. Ability. I. Kourdi, Jeremy. II. Title. HF5549.5.M63D38 2010 658.3'14–dc22 2010014530 A catalogue record for this book is available from the British Library. Typeset in 10.5 on 15 pt Monotype Janson by Toppan Best-set Premedia Limited Printed in Great Britain by TJ International Ltd., Padstow, Cornwall This book is for our children and in particular, Alix who has recently arrived and Jacqueline’ s young nieces Ella and Mia. We look forward to a future where you can fulfil all of your potential at work. Contents Introduction 1 Recognizing the talent ‘doom loop’ 3 About our research 6 Seven key insights 6 How this book is organized 7 1 We Are All Talent Now 13 What we mean by talent 19 Talent ecology and the truth about talent 20 The truth about talent 24 We are all talent now 27 Talent is abundant and diverse 27 The talented are those who generate value, not merely those who can get to the top 27 Potential is discretionary 27 Growing and engaging talent is at the core of leadership 28 HR must reinvent itself to deliver practices for a ‘workforce of one’ 28 Talented people are attracted to talented places 28 2 A New Way of Thinking About Talent 31 How organizations think about talent 31 What we mean by talent 32 How talent management is changing 34 A fragmented, fluctuating supply of labour 36 viii The Truth About Talent From the credit crunch to the capability crunch 37 Connected consumption 38 Where we are today: the problem with current views of ‘talent’ in organizations 39 The belief that the future can be managed: from succession to scenario planning 40 The belief that we can spot our future leaders today (and manage their careers) 42 The march of the ‘high potentials’ 42 Potential for what? 44 Being insightful 45 Moving beyond the usual suspects ... 47 The rise of discretionary potential 49 A more tangible view of talent 50 How do you make a difference? 52 Leadership refl ections 52 3 Talent Diversity: You Need to Believe It to See It 55 The link between talent and diversity 55 Meritocracy and diversity – sources of talent 56 Boiled frogs and Chilean potatoes ... why diversity is vital 58 Diversity – the best way to future-proof your business and avoid homogeneity 60 A new war for talent 63 Practical actions that will begin making a difference 64 Leadership refl ections 66 4 Strategy – Beginning With the End in Mind 69 Strategy – the first priority 71 Future thinking and scenarios 72 Why future thinking and scenarios are valuable 72 Learning from the past, preparing for the future 76 Checklist: using scenario thinking 77 Developing strategy 80 The essence of successful strategies 80
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