Talent rules! Talent is a company's most important asset. This book shows why talent must be managed to generate maximum profits for the organization. The Talent Era presents a complete strategy for leveraging talent to maximize business value. Author Subir Chowdhury helps you discover how to measure talent and explains why there's more to attracting talent than raising salaries. He also discusses how managers handle talented subordinates, how to measure the value of talent, and much more.
The Talent Era Author: Subir Chowdhury Table of Contents Table of Contents Introduction: Welcome to the Talent Era. Not Just Sports and Entertainment Anymore. The Effects of Free Agency. The Impact of Unions. The End Game. What Do We Mean by “Talents”? Why This Book? 1. The Talent Value Chain. Talent Breeds Innovation. Five Links in the Idea-Talent Chain. Five Ways to Create Value. The IDEA Value Cycle. 2. Winning the Creative War. Talent and Environment. Winning by Leveraging Talent. Talent to Meet the Competition. Talent Is Key in Mergers. Continuous Development Cycle. On-Time Obsolescence. 3. Talent: Engine of the New Economy. Talent Creates. Talented Leaders Win. Seven Differences between Talents and Knowledge Workers. How Can Knowledge Workers Become Talents? People Quality Management (PQM). The Power of Mind: Positive Thinking. 4. The Elements of a Talent-Friendly Organization. Talent Satisfaction Measurement System. Organizational Management System. Talent As Customer, Talent As Supplier. Compensation. Summary. 5. Talent Management System. Four Elements of the TMS. Benefits of the TMS. Attracting Talents. Keeping Talents. Managing Talents. Identifying Talents. The Challenges of TMS. Summary. 6. The Growth Rule. Positive Challenge. Grass-Roots Education. Cross-Functional Capability. Support for Change. Seven Laws of Fusion of Talents. Launching an Idea Bank. 7. Talent Development Budget. Value-Driven Cost Structure. Contingency Plan for Talents. The Power of Developing Talent. Summary. 8. Return on Talent. Knowledge Generated and Applied. Investment in Talent. ROT Measurement. Three Examples of Calculating ROT. Optimize ROT. 9. The Seven Secrets of Talent. 1. Search for the Dream. 2. Evaluate Your Strengths and Weaknesses. 3. Cultivate Discipline and Determination. 4. Render Ideas and Actions Inseparable. 5. Embrace Positivity. 6. Take a Never-Give-Up Attitude. 7. Show a “Next” Mentality. Example of the Talent SECRETS: Michael Jordan. Bibliography.Acknowledgments.Index.About the Author. Description Talent rules! Talent is a company's most important asset. This book shows why talent must be managed to generate maximum profits for the organization. The Talent Era presents a complete strategy for leveraging talent to maximize business value. Author Subir Chowdhury helps you discover how to measure talent and explains why there's more to attracting talent than raising salaries. He also discusses how managers handle talented subordinates, how to measure the value of talent, and much more. Excerpt It was late 1969, and the Amazing Mets had just won the World Series. The United States was in a turbulent time. The civil rights movement, the assassinations of Martin Luther King and Robert Kennedy, and the moon landing dominated the headlines. Riots had erupted across the country; music, theater, movies, and TV shows explored uncensored territory; and, yes, the Mets had won. The world had turned upside-down. But of all those events in the late sixties, the one that might seem inconsequential had one of the biggest impacts in the long term. You see, it was the Mets rather than the Cardinals who won the National League championship.Throughout the 1960s, the Cardinals had been a powerhouse. In 1969, the Cardinals had won three of the previous five years and were expected to win again. They had Bob Gibson, Lou Brock, and several other fine players. But the Cardinals had been ruled with an iron fist, and one outstanding player voiced a complaint that had been brewing for years. Curt Flood was one of the greats: He was a three-time all-star, played a record 226 games without an error, was awarded seven Gold Gloves, and was a lifetime .293 hitter in an era when pitchers dominated. With Flood, the Cards had won three National League pennants and two World Series. It was his eleventh year in the league in 1969. Whereas Flood was making $90,000 at the time, many players were making less than $10,000. Under baseball's reserve clause which had been in effect in one form or another since the game began a team owned a player. If a player would not sign an agreement with his team, he had the option of quitting baseball, but he could not play for another team. Players were traded from team to team, sometimes against their wishes. This was the way it was, and, although many had grumbled about it, no one had tried to buck the system. But after losing the pennant in 1969, the Cards, who viewed Flood as a troublemaker despite his obvious skills, decided to trade him to the Phillies. Flood refused to go and on January 16, 1970, filed a lawsuit claiming that the reserve clause violated the antitrust act and should be eliminated. In the end, Flood lost the suit. He sat out the 1970 season and was traded to the Washington Senators in 1971. After thirteen games, he decided the atmosphere was too difficult and retired from the game. But the damage had been done Flood's suit had broken the dam. In 1975 it was official: Andy Messersmith and Dave McNally won their case against the reserve clause, and free agency was born.In 1976, the average baseball player received eight times what the average person received in compensation. By 1994, baseball salaries had reached fifty times the average salary. Free agency had changed the game, other sports, and everyone's perception of what a worker was worth. No longer were wages a suppressed topic that management dictated. Curt Flood cut his career short based on his conviction that he was in effect a slave to baseball and that he should be free to go out and seek whatever employment he could. He had seen the impact of free agency not only on the game of baseball, but also in every walk of life. But Flood had opened up the gates. His action opened a new era an era when people evaluate their own talent and expect to get what they are worth. At first, it was confined to sports. Basketball players quickly figured out that there are only five guys out there generating a lot of revenue, and so they ought to be paid for it. Football followed suit. Soon each top tennis player, each top golfer, each top player in any sport is a very visible Talent (in this book we will capitalize the word... Author Bio Subir Chowdhury Subir Chowdhury is Executive Vice President of the American Supplier Institute. Hailed by The New York Times as "leading quality expert," he is the best-selling author of Management 21C: Someday We'll All Manage This Way, The Talent Era, and The Power of Six Sigma (all from Financial Times Prentice Hall). His works are cited frequently in the national and international media. ce Hall). His works are cited frequently in the national and international media.
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