In the past talent was largely an issue for Human Resources personnel. Now, in an era characterized by workforce heterogeneity and changing environments, talent is an important issue for managers themselves. This book explains the organizational transformations that have occurred and the new talent challenges managers have to confront.

In the past talent was largely an issue for Human Resources personnel. Now, in an era characterized by workforce heterogeneity and changing environments, talent is an important issue for managers themselves. This book explains the organizational transformations that have occurred and the new talent challenges managers have to confront.

Employers who refuse to adapt to the expectations of younger generations are losing out on top talent, as they leave for positions at companies with more modern practices. Learn what companies need to do to fit into the new normal in the workplace. Generation Y sees the world differently than any other generation in modern memory. And nowhere is this more evident than in the workplace. The astronomical shifts that this generation has seen in the economy, technology, and the world have changed what they want from life and work--which is not a 9-5 existence for forty-plus years, leading to a typical retirement at sixty-five. What older generations call a poor work ethic from a spoiled generation, Gen Y sees as a different way of doing things. Companies that don’t get on board risk losing the diverse, young talent that is critical for them to be able to compete. Companies that take the time to listen realize that what Gen Y is asking for isn’t that crazy; in fact, it’s better in many ways. A demand for work-life balance isn’t a cry for fewer work hours--it’s a cry to be able to work from outside the office beyond a rigid 9-5 schedule (which can lead, ironically, to Gen Y employees working even more hours than you expected). Leaving a job after a couple years isn’t an inability to commit--it’s a need to learn more, expand their experience, and develop their career at a faster pace, something that is helpful to companies that hire those individuals, including your own. Elevating nontraditional benefits over financial benefits is a step toward creating an emotional connection to the company where employees spend the majority of their time and invest significant mental and emotional efforts. The need to work for a company with a purpose is a reflection of the power that social media has had on the social consciousness. This book will explore what’s behind these shifts in the character of the emerging workforce. It shows that, as Gen Y assumes managerial positions, the nature of leadership and business will change over the next few decades in irrevocable and profound ways.

In the past talent was largely an issue for Human Resources personnel. Now, in an era characterized by workforce heterogeneity and changing environments, talent is an important issue for managers themselves. This book explains the organizational transformations that have occurred and the new talent challenges managers have to confront.

The term “talent management” refers to managing the entire employee lifecycle, from attracting and hiring to promoting and finding a successor upon retirement.clear understanding of the organization's current and future business strategies. Identification of the key gaps between the talent in place and the talent required to, drive business success A sound talent management plan designed to close the talent gaps. It should also be integrated with strategic and business plans Accurate hiring and promotion decisions .Connection of individual and team goals, to corporate goals, and providing clear expectations and feedback to manage performance. Development of talent to enhance performance in current positions as well as readiness for transition to the next level. A focus not just on the talent strategy, itself, but the elements required for successful, execution. Business impact and workforce effectiveness measurement during and after implementation. Management Leaders are Making Inroads There's no doubt about it - the struggle for top talent has gotten more intense 2009.As a result, more and more leading-edge companies are looking to identify, foster and develop better performance from within. And they're making huge inroads towards winning the war. The Success Stories section of the report will explore several specific examples of these changes at work. India is well known for its entrepreneurial and highly-educated talent base, and is the third largest pool of scientists, engineers and technicians, after the US and Russia. More and more attention is being paid to how it will continue to develop its intellectual and managerial talent and management practices in order to achieve an international standard that will take it into the future. The country's centuries-old history of entrepreneurship across almost every industry sector has been founded on its people's sound business fundamentals and passionate commitment to success.

Praise for Reinventing Talent Management "Bill Schiemann's book is a comprehensive presentation of the need to better understand, measure, and increase organizational people equity. It clearly transforms concepts that have historically been considered less tangible into actionable imperatives. Today more than ever, it's essential that leadership maximizes alignment, capabilities, and engagement within their organizations." —Paul Schultz, President and COO, Jack in the Box Inc. "Reinventing Talent Management has arrived just in time. Given the challenging times we face today, recruiting and retaining the very best people is now more important than ever. Bill has developed a unique innovative framework on how to do this, as well as provided a broad array of practical approaches to putting the theory into action." —Keith Lawrence, Director, Human Resources, Procter & Gamble "Reinventing Talent Management is an outstanding blend of research and practice. It reports compelling research on the value of investing in talent and offers specific recommendations on how to develop people equity through alignment, capabilities, and engagement. The book confirms what good people managers do and offers specific guidelines for those wanting to upgrade their people management skills." —Dave Ulrich, Professor, Ross School of Business, University of Michigan, and Partner, The RBL Group "Bill makes the case for reinventing talent management and tells us how to do it. The book is loaded with good examples and must-take actions that lead to a winning talent management strategy." —Edward E. Lawler III, founder and Director, Center for Effective Organizations, Marshall School of Business, University of Southern California, and author of Talent: Making People Your Competitive Advantage "Talent management certainly needs to be reinvented-this book does it! Read, learn, redo!" —Dr. Richard Beatty, Professor of Human Resource Management, Rutgers University "Reinventing Talent Management provides an accessible framework that offers pragmatic ways to better understand how investments in human capital and talent can be measured and linked to financial returns." —Dr. John Boudreau, Professor and Research Director, Center for Effective Organizations, Marshall School of Business, University of Southern California

There is no HR-related topic more popular in the business press than performance management (PM). There has been an explosion in writing on this topic in the past 5 years, condemning it as a failure and calling for fundamental change. The vast majority of organizations use the same basic process which I call “Last Generation Performance Management” or PM 1.0 for short. Despite widespread agreement that PM 1.0 is failing, few companies have abandoned it or made fundamental changes to it. While everyone agrees it is broken, few agree on how to fix it. Companies continue to tinker with their systems, making incremental changes every few years with no lasting improvement in effectiveness. Employees continue to achieve amazing things in organizations every day, despite this process not because of it. Nothing has worked because organizations, business leaders and HR professionals focus on PM practices instead of the fundamental purpose of PM and the paradigms, assumptions, and beliefs that underlie the practices. Companies ask their performance management process to do too many things and it fails at all of them as a result. At the foundation of PM 1.0 practices is the ideology of a meritocracy and paradigms rooted in standard economic and psychological theories. While these theories were adequate explanations for motivation and behavior in the 19th and 20th centuries, they fail to account for the increasingly complex nature of organizations and their environments today. Despite the ineffectiveness of PM 1.0, there are powerful forces holding it in place. Information on rigorous, evidence-based recommendations is crowded out by benchmarking information, case studies of high-profile companies, and other propaganda coming from HR think tanks and consultants. Business leaders and HR professionals learn about common practices not effective practices. This book confronts the traditional dogma, paradigms, and practices of PM 1.0 and holds them up to the bright light of scientific scrutiny. It encourages HR professionals and business leaders to abandon PM 1.0 and it offers up a more appropriate purpose for PM, alternative paradigms to guide them and practical solutions that are better supported by scientific research, referred to as “Next Generation Performance Management” or PM 2.0 for short.