Talent Management and the
Older Worker
Graeme Martin
Outline
Why the interest in talent management?
 How good are the underlying
theories/assumptions and evidence on
which t...
The War for Talent Revisited: Something
New?
(Martin & Hetrick, 2006; Economist, Oct 7th
, 2006, CIPD, 2007, etc)
Brainpow...
The truth about markets: why some
nations are rich but most remain poor?
‘The distinction between the
role of shareholders...
Some Evidence
The ‘irrational’ search for the
Charismatic CEO and growing
inequality/returns to talent
Intangible assets n...
So What’s the Solution?
Talent Management and its
assumptions?
A focus on human capital in a knowledge economy
 individual performance equals organizational performance
A focus on scar...
The Human Capital (or Talent)
Equation
HUMAN CAPITAL
INVESTMENT AND
DEPLETION
‘IQ’ OF EXTENDED
ENTERPRISE (ITS
INTELLECTUA...
The Human Capital/Talent
Delusion?
HUMAN CAPITAL
INVESTMENT AND
DEPLETION
‘IQ’ OF EXTENDED
ENTERPRISE (ITS
INTELLECTUAL
CA...
A Talent-based Recipe for an Enterprising
Organizations and Public Services (based on
Dyer and Ericksen, 2007)
Workforce
S...
The ‘New (super) Capitalism’ and Social
Deficits (Richard Sennett, 2006; Robert Reich, 2007, Mark Moore, 2007)
 Liquid mo...
Throwing babies out with the bathwater:
Dealing with the ‘Universal Paradox’ in Management –
integration and innovation
Ca...
Some Key Questions for the Older
Workforce Agenda
What do they want from work?
How does this differ among different
grou...
Thank you
g.martin@mgt.gla.ac.uk
www.managingpeoplebook.com
www.gla.ac.uk/crmp
CIPD (2006) Talent Management
Economist (Oct 7th
, 2006) A survey of talent, Economist Newspapers
Christensen, C., et al (...
CIPD Survey 2007
 At 65, 38% propose to carry on working, half full-time;
one-third undecided
 Different motivations for...
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Talent management-and-the-older-worker-graeme-martin2681

  1. 1. Talent Management and the Older Worker Graeme Martin
  2. 2. Outline Why the interest in talent management?  How good are the underlying theories/assumptions and evidence on which talent management rests? What are the implications for older workers? What practical questions remain to be answered?
  3. 3. The War for Talent Revisited: Something New? (Martin & Hetrick, 2006; Economist, Oct 7th , 2006, CIPD, 2007, etc) Brainpower and talent in knowledge-based economies/organizations Population changes worldwide, international labour markets and HR supply chains The rise of idiosyncratic careers and the cult of ‘celebrity’ Employee loyalty and trust fading: employers reaping what they have sown (CIPD, 2006)? Talent drives reputations and is attracted by reputations, but talent can also damage reputations
  4. 4. The truth about markets: why some nations are rich but most remain poor? ‘The distinction between the role of shareholders and employees was clear when shareholders bought the plant and employees worked in it. But the principal assets of the modern company are knowledge, brands and reputations, which are in the head and hands of employees…’ (John Kay, 2004, p. 58)
  5. 5. Some Evidence The ‘irrational’ search for the Charismatic CEO and growing inequality/returns to talent Intangible assets now worth 70% of value of companies (S&P index); From 20% in 1980 By 2025, no of people of working age to fall in Europe sharply coupled with retirements – the Tayside problem 83% of workers are likely to search for new job; 1990s employability and ‘death of careers’ rebounding on employers Three quarters of senior-human resources managers said that “attracting and retaining” talent was their number-one priority (Wooldridge, 2007)
  6. 6. So What’s the Solution? Talent Management and its assumptions?
  7. 7. A focus on human capital in a knowledge economy  individual performance equals organizational performance A focus on scarce and valuable people (the power curve) – the exclusive rather than inclusive approach A focus on buy rather than make  Outsiders create innovation  Easier to buy rather than make – we need to hit the deck running and we can ‘talent spot’ A focus on potential rather than experience  a ‘liquid modern’ or unknowable world – ‘in the face of change, the experienced are helpless – an inch wide and a mile deep’ Talent Management: Some Core assumptions?
  8. 8. The Human Capital (or Talent) Equation HUMAN CAPITAL INVESTMENT AND DEPLETION ‘IQ’ OF EXTENDED ENTERPRISE (ITS INTELLECTUAL CAPITAL) INNOVATION AND ENTERPRISING PUBLIC SERVICES Talented Individuals
  9. 9. The Human Capital/Talent Delusion? HUMAN CAPITAL INVESTMENT AND DEPLETION ‘IQ’ OF EXTENDED ENTERPRISE (ITS INTELLECTUAL CAPITAL) INNOVATION AND ENTERPRISING PUBLIC SERVICES SOCIAL CAPITAL INVESTMENT (GOODWILL, TRUST, BONDING & BRIDGING) ORGANIZATIONAL CAPITAL (DATABASES, STRUCTURES, ROUTINES AND PROCESSES Delusions 1 & 2 Delusion 3
  10. 10. A Talent-based Recipe for an Enterprising Organizations and Public Services (based on Dyer and Ericksen, 2007) Workforce Scalability – Right numbers Right types of people Right places Doing right things Workforce fluidity Workforce alignment Top-down plan Bottom-up: shared mindset Acquiring talent: pre-qualify source Releasing employees: outplacement Enrich talent pool: diversity, fit and (serial in)competence Facilitate interpersonal connectivity: Increase absorptive capacity Expand role orientations Unleash talent pool Align incentives
  11. 11. The ‘New (super) Capitalism’ and Social Deficits (Richard Sennett, 2006; Robert Reich, 2007, Mark Moore, 2007)  Liquid modern world of short term relationships with ‘careerless’ organizations  Potential (serial incompetence) celebrated and craftsmanship devalued Four social deficits  Decline of loyalty, which depends on being valued  Organizations need talented people more than talented people need organizations: the identification problem  Decline of trust in organizations and leadership  Decline of organizationally-specific knowledge  The tension between shareholder & consumers on the one hand and citizens and public value on the other
  12. 12. Throwing babies out with the bathwater: Dealing with the ‘Universal Paradox’ in Management – integration and innovation Can create reputations: talented people with unique human capital create difference and value But also destroys them – the Enron effect and legitimacy Sometimes good for knowledge acquisition and innovation But not so good for sharing and exploitation Promotes aggressive competition and dynamic organizations and an /enterprising public sector At the expense of expressive/connected organizations – the ruthless organization Focus on internal organization At expense of organizational networks Focus on potential and serial incompetence At the expense of experience and craft
  13. 13. Some Key Questions for the Older Workforce Agenda What do they want from work? How does this differ among different groups How can we best make use of what their skills and talents? To what extent are employers planning now for the ageing workforce? What will this mean for performance management in organizations?
  14. 14. Thank you g.martin@mgt.gla.ac.uk www.managingpeoplebook.com www.gla.ac.uk/crmp
  15. 15. CIPD (2006) Talent Management Economist (Oct 7th , 2006) A survey of talent, Economist Newspapers Christensen, C., et al (2006) Seeing what’s next: using the theories of innovation to predict industry change. Boston: Harvard Business School Press Groysberg, B., Nanda, A. and Nohria, N (2004) The risky business of hiring stars. Harvard Business Review, May, 92-100 Lepak, D., et al., (2007) Value creation and value capture. Academy of Management Review, 32: 180-194 Martin, G. and Hetrick, S (2006) Corporate Reputation, Branding and People Management. Oxford: Elsevier Butterworth Heinemann Michaels, E., Handfield-Jones, H. and Axelrod, B. (2001) The War for Talent. Boston, MA: Harvard Business School Press Pfeffer, J. & Sutton, R.E. (2006) Hard Facts, Dangerous Half-Truths and Total Nonsense: Profiting from Evidence-based Management. Harvard Business Review Press Rosenzweig, P. (2007) The Halo Effect…and Eight Other Business Delusions… New York: Free Press. Sennett, R. (2006) The Culture of the New Capitalism, New Haven, Ct: Yale University Press. Spector, B (2003) HRM at Enron: the un-indicted co-conspirator. Organizational Dynamics 32, 207- 220 Subramaniam, M. & Youndt, M. A. (2005) The influence of intellectual capital on the types of Innovative capabilities. Academy of Management Journal, 48: 450-463. Selected References
  16. 16. CIPD Survey 2007  At 65, 38% propose to carry on working, half full-time; one-third undecided  Different motivations for different socio-economic groups  More flexible working arrangement Opportunity to use existing skills Worthwhile job Flexible leave Financial benefits they value Participative and friendly culture  Few employers considered the impact of ageing workforce on their HR policies/rewards  Rewarding loyalty and service can be appropriate  Well-being a key issue

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