Talent on Demand: Managing Talent in an Age of Uncertainty

Talent on Demand: Managing Talent in an Age of Uncertainty

by Peter Cappelli

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Executives everywhere acknowledge that finding, retaining, and growing talent counts among their toughest business challenges. Yet to address this concern, many are turning to talent management practices that no longer work--because the environment they were tailored to no longer exists.

In today's uncertain world, managers can't forecast their business needs accurately, never mind their talent needs. An open labor market means inevitable leaks in your talent pipeline. And intensifying competition demands a maniacal focus on costs. Traditional investments in talent management wind up being hugely expensive, especially when employees you've carefully cultivated leave your firm for a rival.

In Talent on Demand, Peter Cappelli examines the talent management problem through a radical new lens. Drawing from state-of-the-art supply chain management and numerous company examples, he presents four new principles for ensuring that your organization has the skills it needs--when it needs them. In this book, you'll discover how to:
· Balance developing talent in-house with buying it on the open market
· Improve the accuracy of your talent-need forecasts
· Maximize returns on your talent investments
· Replicate external job market dynamics by creating an in-house market that links available talent to jobs

Practical and provocative, Talent on Demand gives you the ideas and tools you'll need to match the supply of talent to your demand for it--today and tomorrow.

Product Details

ISBN-13: 9781422163504
Publisher: Harvard Business Review Press
Publication date: 03/03/2009
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 280
File size: 657 KB

About the Author

Peter Cappelli is a professor of management at the Wharton School, Director of Wharton's Center for Human Resources, and a research associate at the National Bureau of Economic Research in Cambridge, MA.

Table of Contents

The Talent Management Problem     1
Why Traditional Talent Management No Longer Works
The Rise of Talent Management     27
The End of an Era     57
A New Model of Talent Management The Four Principles for Matching Talent Supply and Demand
The Make-Versus-Buy Decision     105
The Problem of Uncertainty in Talent Demand     131
The Return on Talent Management Investments     165
Managing an Internal Market to Match Talent to Jobs     205
Promises and Challenges of the Talent on Demand Model     229
Notes     241
Acknowledgments     259
Index     261
About the Author     281

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Talent on Demand: Managing Talent in an Age of Uncertainty 5 out of 5 based on 0 ratings. 2 reviews.
bab77 on LibraryThing More than 1 year ago
Peter Capelli, a professor at the Wharton school of business, describes how organizations managed talent from the early 1900s to 2007. He describes how employees who worked for large corporations in the 1950s through the 1970s often worked for one company until retirement at age 65. Their career paths were planned years in advance by senior management. He uses case studies of companies including Sears, General Electric, and Standard Oil to show how employees spent years training for upper-level management. Employees were chosen for higher-level jobs based in part on ¿potential for advancement¿ (Capelli, p. 51).Now most employees change companies change companies several times in their careers, and the paths to senior management are less certain. I especially enjoyed the last part of the book because the case studies were more recent; the author focuses on talent management in the last 10 years. Companies have used internal job boards and informal mentoring relationships to improve retention and make sure that employees have the opportunity to use their talent within the company, instead of for a competitor.Also, the author discusses the cost of training employees and the importance of finding a way to recoup that cost. Often, companies develop special developmental projects just for the purposes of training the employee. Employees should be assigned to projects that are useful to the company¿s bottom line. Managers who use some of the ideas in the book to improve retention may save money because they will be less likely to lose employees to other companies.
RolfDobelli More than 1 year ago
Talent management, like every other aspect of business, has changed so dramatically that decision makers aren¿t sure where to turn. For years, corporations used ¿traditional succession plans¿ to ensure smooth leadership transitions. Those plans are no longer effective. Hiring from the outside, a trend that once rapidly gained popularity, did not turn out to be a panacea. Author Peter Cappelli believes companies cannot eliminate unpredictability ¿ they can only contain it. He finds that supply chain management approaches can cut the expense and boost the effectiveness of talent management. The keys to managing talent, he says, are reducing your exposure to risk and being responsive to your employees. You may not find a complete solution to your future leadership issues here, but getAbstract believes Cappelli¿s approach is a significant step forward.