Truth about Talent

Jacqueline Daviesis a respected HR leader with 18 years' experience in strategic human resource management. She has led the global talent agendas in two FTSE top 10 companies and driven executive integration programmes for two of the largest acquisitions in corporate history. Jacqueline is a recognised thought leader in how companies can deploy talent strategies to achieve commercial advantage. Jacqueline is a non-executive director of two charities and has recently been appointed to the Advisory Board on Leadership Ethics at the Bristol Business School. She can be contacted at truthabouttalent@btinternet.com. Jeremy Kourdiis a writer and executive coach. His experience includes commercial leadership, writing and coaching expertise gained with leading brands. During his career he has worked in Europe, North America and the Middle East with a range of organizations including HSBC, Pearson, London Business School, IMD and he was Senior Vice-President with The Economist Group. For further information visit www.LeadershipExpertise.com.

• Introduction 1Recognizing the talent ‘doom loop’ 3About our research 6Seven key insights 6How this book is organized 71 We Are All Talent Now 13What we mean by talent 19Talent ecology and the truth about talent 20The truth about talent 24We are all talent now 27Talent is abundant and diverse 27The talented are those who generate value, not merely those who can get to the top 27Potential is discretionary 27Growing and engaging talent is at the core of leadership 28HR must reinvent itself to deliver practices for a ‘workforce of one’ 28Talented people are attracted to talented places 282 A New Way of Thinking About Talent 31How organizations think about talent 31What we mean by talent 32How talent management is changing 34A fragmented, fluctuating supply of labour 36From the credit crunch to the capability crunch 37Connected consumption 38Where we are today: the problem with current views of ‘talent’ in organizations 39The belief that the future can be managed: from succession to scenario planning 40The belief that we can spot our future leaders today (and manage their careers) 42The march of the ‘high potentials’ 42Potential for what? 44Being insightful 45Moving beyond the usual suspects ... 47The rise of discretionary potential 49A more tangible view of talent 50How do you make a difference? 52Leadership reflections 523 Talent Diversity: You Need to Believe It to See It 55The link between talent and diversity 55Meritocracy and diversity – sources of talent 56Boiled frogs and Chilean potatoes ... why diversity is vital 58Diversity – the best way to future-proof your business and avoid homogeneity 60A new war for talent 63Practical actions that will begin making a difference 64Leadership reflections 664 Strategy – Beginning With the End in Mind 69Strategy – the first priority 71Future thinking and scenarios 72Why future thinking and scenarios are valuable 72Learning from the past, preparing for the future 76Checklist: using scenario thinking 77Developing strategy 80The essence of successful strategies 80Checklist: developing your strategy 82Implementing strategy 83Communicating strategy 84HR strategy at work 85Strategic tools for HR 861. Devising the right people strategy 872. Designing and refining the organization’s structure and focus 873. Influencing and enhancing the culture and environment 874. Developing future leaders 885. Understanding critical capabilities 886. Managing performance and reward 887. Involving people and increasing satisfaction 898. Learning and managing knowledge 899. Staying focused, flexible and managing HR services 89Leadership reflections 905 Hire and Wire: Developing Your Organization’s Talent Ecology 93Finding and nurturing talent 93Managing your talent ecology 95The impact of the external market 96The pivotal link with strategy 96Talent – a valuable Trojan horse 97Talent loves talented company 98The forgotten role of structure 100From structure chart to social capital 101The importance of networks 103The nature of talented teams 104Adopting new habits 105How culture can make or break a talent strategy 106Digging big holes 107The revenge of the bell curve 109Cultures that attract talent 110Developing the talent ecology 113Aiming for a ‘fly wheel’ effect 114Leadership reflections 1146 Getting Personal: The Workforce of One 117Bringing your talents to work 117Life just got personal – the trend to mass customization 118The rise of the employer brand 119The value of segmentation 120Understanding memetics 122Segmenting talent 124Techniques for rating performance 124Using employee data 125Getting beneath the Employee Value Proposition 126Leadership reflections 1287 Engaging With Talent 131Employee engagement: what it is and why it matters 131The benefits of engagement 132What affects employee engagement? 133Three-factor theory 136Engagement and the three factors 138Checklist: connecting employee enthusiasm with business success 139The rule of 150: Gore Associates 145Sears and the service-profit chain 147Creating a climate for engagement 148Understanding what doesn’t work 149Getting people engaged 149Leadership reflections 1518 The Meaning of Work 155The meaning of work 155The importance of meaningful work 159People – more than ‘human resources’ 159Making work more meaningful 160Leadership refl ections 1629 Leading for Talent 165The challenges of 21st century leadership 166Globalization, interconnectedness and interdependence 168Increasing complexity 170The challenge of sustainable growth 171The need for innovation 172Changing attitudes, rising expectations 173Organizations are changing 176Knowledge matters 177A new approach to leadership 178The business case 179People are the answer (specifically, their head, heart and guts) 180Understanding your leadership style 181Understanding different leadership styles 182Taking leadership seriously 184Leadership reflections 18810 Techniques for Realizing Talent in Your Whole Workforce 191Leading with your heart 192Balance the needs of individuals and the business 193Know yourself and connect emotionally to others 193Stay self-aware 194Develop empathy 195Remain in control 196Use different styles of working 196Develop emotional intelligence (EQ) 198Inspire trust 199Use visioning to increase collaboration and understanding 215Develop creativity and innovation 217Build a diverse team and empathic approach 218Using intellect, intelligence and insight 219Rethinking 219Reframing 220Focusing on results and getting things done 221Developing and articulating a point of view 222Courageous leadership 223Taking risks with incomplete data 223Balancing risk and reward 224Acting with unyielding integrity 224Communicating 225Empowering people 227Coaching and developing talent 229Conclusion: Creating a Talent Flywheel 235See talent in context 237Treat everyone as talent 238Focus on value creation 238Make work personal 239Build everyone’s capability 239Take leadership seriously 240Tend your talent ecology 240Appendix: Researching the Truth About Talent 243Research acknowledgements 245Index 249

"[The authors] take a robust and critical view of the effectiveness of talent management in large organisations." (Developing Leaders, October 2010) "... offers some very interesting ideas about breaking out of the old talent scenario... a most stimulating read." (Business Executive, November 2010)