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Talent Management and the Older Worker Graeme Martin

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 talent management rests? What are the implications for older workers? What practical questions remain to be answered?.

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Talent Management and the Older Worker Graeme Martin

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  1. Talent Management and the Older WorkerGraeme Martin

  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. 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 Talent drives reputations and is attracted by reputations, but talent can also damage reputations Employee loyalty and trust fading: employers reaping what they have sown (CIPD, 2006)? The rise of idiosyncratic careers and the cult of ‘celebrity’

  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. Some Evidence 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 Three quarters of senior-human resources managers said that “attracting and retaining” talent was their number-one priority (Wooldridge, 2007) The ‘irrational’ search for the Charismatic CEO and growing inequality/returns to talent 83% of workers are likely to search for new job; 1990s employability and ‘death of careers’ rebounding on employers

  6. So What’s the Solution? Talent Management and its assumptions?

  7. Talent Management: Some Core assumptions? 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’

  8. The Human Capital (or Talent) Equation HR & Leadership Drivers Talented Individuals HUMAN CAPITAL INVESTMENT AND DEPLETION ‘IQ’ OF EXTENDED ENTERPRISE (ITS INTELLECTUAL CAPITAL) INNOVATION AND ENTERPRISING PUBLIC SERVICES HR & Leadership Drivers

  9. The Human Capital/Talent Delusion? HUMAN CAPITAL INVESTMENT AND DEPLETION Delusions 1 & 2 SOCIAL CAPITAL INVESTMENT (GOODWILL, TRUST, BONDING & BRIDGING) ‘IQ’ OF EXTENDED ENTERPRISE (ITS INTELLECTUAL CAPITAL) INNOVATION AND ENTERPRISING PUBLIC SERVICES Delusion 3 ORGANIZATIONAL CAPITAL (DATABASES, STRUCTURES, ROUTINES AND PROCESSES

  10. A Talent-based Recipe for an Enterprising Organizations and Public Services(based on Dyer and Ericksen, 2007) Top-down plan Bottom-up: shared mindset Workforce alignment Acquiring talent: pre-qualify source Workforce Scalability – Right numbers Right types of people Right places Doing right things Releasing employees: outplacement Enrich talent pool: diversity, fit and (serial in)competence Facilitate interpersonal connectivity: Increase absorptive capacity Workforce fluidity Expand role orientations Unleash talent pool Align incentives

  11. The ‘New (super) Capitalism’ and Social Deficits (Richard Sennett, 2006; Robert Reich, 2007, Mark Moore, 2007)

  12. Throwing babies out with the bathwater: Dealing with the ‘Universal Paradox’ in Management – integration and innovation

  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. Thank you g.martin@mgt.gla.ac.uk www.managingpeoplebook.com www.gla.ac.uk/crmp

  15. Selected References

  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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