The War for Talent - Hardcover

Michaels, Ed; Handfield-Jones, Helen; Axelrod, Beth

Hardcover

ISBN 10: 1578514592 ISBN 13: 9781578514595

Publisher: Harvard Business Review Press, 2001

Synopsis

In 1997, a groundbreaking McKinsey study exposed the "war for talent" as a strategic business challenge and a critical driver of corporate performance. Then, when the dot-com bubble burst and the economy cooled, many assumed the war for talent was over. It's not. Now the authors of the original study reveal that, because of enduring economic and social forces, the war for talent will persist for the next two decades. McKinsey & Company consultants Ed Michaels, Helen Handfield-Jones, and Beth Axelrod argue that winning the war for leadership talent is about much more than frenzied recruiting tactics. It's about the timeless principles of attracting, developing, and retaining highly talented managers - applied in bold new ways. And it's about recognizing the strategic importance of human capital because of the enormous value that better talent creates.Fortified by five years of in-depth research on how companies manage leadership talent - including surveys of 13,000 executives at more than 120 companies and case studies of 27 leading companies - the authors propose a fundamentally new approach to talent management. They describe how to: create a winning EVP (employee value proposition) that will make your company uniquely attractive to talent; move beyond recruiting hype to build a long-term recruiting strategy; use job experiences, coaching, and mentoring to cultivate the potential in managers; and, strengthen your talent pool by investing in A players, developing B players, and acting decisively on C players.Central to this approach is a pervasive talent mindset - a deep conviction shared by leaders throughout the company that competitive advantage comes from having better talent at all levels. Using practical examples from companies such as GE, The Home Depot, PerkinElmer, Amgen, and Enron, the authors outline five imperatives that every leader - from CEO to unit manager - must act on to build a stronger talent pool. Written by recognized authorities on the topic, this is the definitive strategic guide on how to win the war for talent.

About this title

Review:

Talent, as defined by Ed Michaels, Helen Handfield-Jones, and Beth Axelrod, is shorthand for a key employee who possesses "a sharp strategic mind, leadership ability, communications skills, the ability to attract and inspire people, entrepreneurial instincts, functional skills, and the ability to deliver results." It's also, they contend in The War for Talent, an overarching personnel characteristic that companies of all kinds will require throughout their organizations in order to survive the competitive recruiting era that we appear to be entering. Michaels, Handfield-Jones, and Axelrod, authors of a 1997 McKinsey Quarterly article that uncovered a definitive connection between top performers and superior corporate achievement, spent the intervening years studying 13,000 executives in 27 companies to identify the programs and behaviors that help today's foremost firms attract and retain the best kinds of employees. The authors outline five common "imperatives" that they found these companies employed to strengthen their talent pools ("Embrace a Talent Mindset," "Craft a Winning Employee Value Proposition," "Rebuild Your Recruiting Strategy," "Weave Development into Your Organization," and "Differentiate and Affirm Your People") and construct a practical framework for making it happen in your company. --Howard Rothman

From the Back Cover:

"The seminal book on the most significant problem facing all organizations."
-Warren Bennis, Distinguished Professor of Business, University of Southern California and Author of Managing the Dream

"The one resource your competitors cannot duplicate-perhaps the only one-is the pool of managerial talent you create and cultivate. In my experience, the ROI on doing this well can be dramatic and immediate. Especially valuable for CEOs, this book describes clearly and powerfully how to attract, develop, assess, and retain leaders."
-Mike Ruettgers, Executive Chairman, EMC Corporation

"Increasingly, there is a global battle for the best talent involving both companies and governments. This book describes five powerful principles that are applicable in any company and in any country for winning the war for talent."
-Daniel Vasella, M.D., Chairman and CEO, Novartis AG

"The War for Talent is the definitive playbook for talent management. Packed with original insights and game-changing ideas, it outlines action plans that all managers ought to consider. This book is an indispensable guide for learning how to apply the art and science of building your organization's talent."
-Julian Kaufmann, Vice President, Leadership and Organization Development, AOL Time Warner, Inc.

"This landmark book shifts the 'war for talent' discussion from metaphor to battle plan. This book will profoundly shape management agendas-of the survivors."
-John Hagel, Chief Strategy Officer, 12 Entrepreneuring

"McKinsey's The War for Talent offers valuable insight into what people want from their employers today. It shows how to strengthen a firm's human capital to significantly improve business performance. Every manager will benefit from reading it."
-Douglas A. Warner III, Chairman, JPMorgan Chase & Co.

"Here at last is a book that takes us beyond the rhetoric and sets out a bold plan of action for actually winning the war for talent. Any CEO or any company that does not have talent as a burning business priority risks its future."
-Frank Cicutto, CEO, National Australia Bank

About this edition

• Publisher: Harvard Business Review Press
• Publication date: 2001
• ISBN 10: 1578514592
• ISBN 13: 9781578514595
• Binding: Hardcover
• Edition number: 1
• Number of pages: 240