A new book, Talent Wins: The New Playbook for Putting People First, by Ram Charan, Dominic Barton, and Dennis Carey will be out March 6. The review for this book suggests that hiring talent has nothing to do with any talisman and that tampering with the old ways of hiring is not enough; but rather smashing them to smithereens is a better idea.
Maybe in the past, companies with good HR Departments would feel lucky (their idea of a good talisman for talent). According to the review, this new book suggests that talent must lead strategy and that a job this big needs the CEO. HR veterans everywhere are rolling their eyes and slapping their foreheads saying, “Gosh! Why didn’t WE think of that!” I know, your invitation to “sit at the table” seems perpetually lost in the mail. OK, I’ll be nice, because the book seems to be on point.
Further, the search for top talent is not only important, but a global issue – even in Russia. In fact, an article written by several Russian authors states: “The main source of profit for any company is its talented employees.” Borisova, Silayeva, Saburova, Belokhvostova, and Sokolova (2017). Moreover, another source suggests (and this is NOT a political statement) that countries, such as the U.S.A. that are not rich with available recruits in technology, need to open their doors a little wider to bring in technical talent from countries that are rich in tech talent. Otherwise, this much needed talent will migrate, literally, to other countries that are more welcoming. That being the case, some of that talent and technology must already be in place.
We are using technology increasingly to find, recruit, and retain top talent. This is happening across all industries. According to one hospitality expert, that industry needs to conduct better training and invest in technology. The pharmaceutical industry is looking at technology to become a way of life. The retail industry looks at technology as a source for creating job opportunities. An example of this might be in knowledge heavy industries. One company uses technology to perform “persona mapping.” Persona mapping is a tool to incorporate the “talent leading strategy” concept from the book. Persona mapping helps both recruit and retain talent fitting organizational business strategies. Technology companies do use technology for recruiting and retention, but wrap your head around this statement from an HR executive… “In the current scenario, the HR function is seeking candidates with the right skills, or those who have undergone skilled-based training, coupled with the appropriate personality traits, and the trend shall continue.” (Singh, 2018). In the automobile industry AI is helping hire top talent. In the oil and gas industry, “gig economy” uses top talent for specific gigs or projects, and on it will continue for the tools of technology and talent to come together to find top talent. So back to what I believe is the main premise of the book and that is why finding top talent is more important today than in the past?
The authors suggest that for organizations to succeed, that valuing people as much as money or finances of the company is essential. The authors go on to assert that “people are the value creators in the new digital age” (Carey, 2018) and that’s CEOs need to look at their company different and better manage these “value creators.” Since I don’t have the book, for a clearer understanding, a little more research is in order. One source suggests that the real reason talent today is more valuable than ever is because of the need for so many technical skills and to further complicate finding, hiring, training, and retaining this top talent, is the rapid changes occurring in technology. In other words, even if an organization has the right, top talent today, in two to five years, that top talent will be obsolete! Therefore, the article surmises that searching for top talent will never end. Tamper with this talent talisman all you want! This is job security for everyone!
Graphic credit: BigStock.com Copyright: stef_nazarenko
Borisova, O.N.; Silayeva, A.A.; Saburova, L.N.; Belokhvostova, N.V.; Sokolova, A.P. (2017, January). Talent Management as an Essential Element in a Corporate Personnel Development Strategy. Academy of Strategic Management Journal. 2017 Special Issue. Vol. 16, p 31-46. Retrieved from Dekalb County Online Public Library.
Carey, D. (2018, February ). The Path to High-Level Talent. Korn Ferry Institute
Healy, R. (2012, March). Why Recruiting the Right Talent Matters Now More Than Ever. www.brazen.com
Singh, G. (2018, January). Hiring Trends for 2018. Human Capital. Vol 21, Issue 8, p. 18-30.
Shapiro, G. (2018, January). Why the U.S. Must Welcome Top Talent Before it Travels Elsewhere. Investors Business Daily. P. 1. Retrieved from Dekalb County Online Public Library.