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Managing Talent in an
Uncertain Age
Peter Cappelli
Professor and Director
Center for Human Resources
The Wharton School
What is Talent
Management? Why
should we care about it?
The
issue is money.
The supply chain analogy -
$
and nt
n
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t
nsa elopm
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p
v
Com ing/De
n
Trai
Value
Time
Different
practices
made
Open
markets in
the early years
times
The Rise of thedifferent
Planning Approach
sense at
12-18mo training
18-21 month job rotation
Hi potential program accelerated promotions
75% execs had > 5yrs on corporate staff
40% execs began in marketing/sales
Detailed workforce and succession plans 15 years out
Dependability
Stability
Imagination
Originality
Self-expression
Cooperation
System B
Rank candidates on a scale ofSatisfactory Improving Needs Improvement
Thinks critically
Shows initiative
Physical resistance
Self-expression
Creative ability
Restructuring is non-stop
AMA survey 49% have downsizings even during the boom years
Fortune 500 now employ as many as 20 years ago
63 percent cutting in one division and expanding in another
Cuts happened faster in this downturn than any time before
Employee Tenure: Down with employer/ Up with occupation
Planning is out
In the management ranks - 2003 SHRM firm
survey 60% have no succession planning
of any kind
What changed
on the employee side?
How did they respond to end of lifetime
employment?
50% of Workers
75% of Workers
Units
Dollars
Units
Dollars
Units
Dollars
Stock Grant
Face Value
50
shares
$500
100
shares
$1,000
1,000
shares
$10,000
Vacation Days*
7 days
$652
10
days
$1,400
15
days
$2,769
Bonus
Opportunity
$1,000
$1,000
$5,000
$5,000
$10k
$10,000
10%
$3,750
20%
$7,500
35%
$15,000
Potential
Salary in Five
Years
$6,000
$6,000
$15k
$15,000
$35k
$35,000
One-time
Retirement
Contribution
$5,000
$5,000
$20K
$20,000
$50k
$50,000
I would leave
for
Salary
Increase*
Characteristics in First
Employers*
Challenging
Please
rate assignments
the importance of each of the following in
Company a
values
balance
between personal life and career
choosing
first
employer
Competitive benefits
Competitive salary
Financial strength
High-achiever program
Immediate responsibility
Likeable/inspiring colleagues
Opportunity to specialize
Secure employment
Preferred
by 2007
Ranking
2006
Google
McKinsey & Company
Goldman Sachs
Bain & Company
The Boston Consulting
Group
1
2
3
4
20.58%
16.31%
13.95%
10.99%
2
1
3
4
10.89%
Apple Computer
10.78%
Microsoft
General Electric
Nike
Bank of America
Citigroup
Morgan Stanley
Johnson & Johnson
Starbucks
Lehman Brothers
7
8
9
10
11
12
13
14
15
7.82%
7.71%
7.21%
6.91%
6.82%
6.75%
6.73%
6.66%
6.49%
16
8
12
18
6
10
9
22
13
Employer
Ranking
2007
Preferred
by 2007
Ranking
2006
16
17
18
19
6.28%
6.19%
6.19%
5.58%
15
11
17
20
Walt Disney
20
5.23%
14
21
5.11%
21
22
23
24
25
26
27
28
29
30
4.80%
4.71%
4.70%
4.44%
4.24%
4.13%
4.11%
3.99%
3.82%
26
23
19
27
32
24
31
34
33
Employer
JPMorgan Investment
Bank
Yahoo!
IBM
BMW
Coca-Cola
Amazon.com
3M
Toyota
Target
American Express
Preferred industries: Management consulting (22%), Financial services (22%) , Consumer goods (16%)
UNIVERSUM
GRADUATE
AttractiveSURVEY
Characteristics: Industry leadership (38%) , Attractive location(s) (26%), Innovation (25%)
2007
Managing
the Costs
Costs
of
1. Avoid Mismatch
Balance
Make
and Buy
Uncertainty
#2 Managing Uncertainty
and the Costs of Being
Poor quality of long-term forecasts is issue so.
Wrong
The logic of portfolios for managing uncertainty
Improve responsiveness
and nt
n
o
i
e
t
nsa elopm
e
p
v
Com ing/De
n
Trai
Value
Time
The
Challenge
is Earning
a
Reducing
upfront costs
finding cheaper
delivery options
Return
#4 Balancing Employee
Interests
How
muchMaster
control
should employees
The Chess
model
Downside:
have
over Best
development?
candidates can go elsewhere
BUY THIS
BOOK