In the past talent was largely an issue for Human Resources personnel. Now, in an era characterized by workforce heterogeneity and changing environments, talent is an important issue for managers themselves. This book explains the organizational transformations that have occurred and the new talent challenges managers have to confront.

Employers who refuse to adapt to the expectations of younger generations are losing out on top talent, as they leave for positions at companies with more modern practices. Learn what companies need to do to fit into the new normal in the workplace. Generation Y sees the world differently than any other generation in modern memory. And nowhere is this more evident than in the workplace. The astronomical shifts that this generation has seen in the economy, technology, and the world have changed what they want from life and work--which is not a 9-5 existence for forty-plus years, leading to a typical retirement at sixty-five. What older generations call a poor work ethic from a spoiled generation, Gen Y sees as a different way of doing things. Companies that don’t get on board risk losing the diverse, young talent that is critical for them to be able to compete. Companies that take the time to listen realize that what Gen Y is asking for isn’t that crazy; in fact, it’s better in many ways. A demand for work-life balance isn’t a cry for fewer work hours--it’s a cry to be able to work from outside the office beyond a rigid 9-5 schedule (which can lead, ironically, to Gen Y employees working even more hours than you expected). Leaving a job after a couple years isn’t an inability to commit--it’s a need to learn more, expand their experience, and develop their career at a faster pace, something that is helpful to companies that hire those individuals, including your own. Elevating nontraditional benefits over financial benefits is a step toward creating an emotional connection to the company where employees spend the majority of their time and invest significant mental and emotional efforts. The need to work for a company with a purpose is a reflection of the power that social media has had on the social consciousness. This book will explore what’s behind these shifts in the character of the emerging workforce. It shows that, as Gen Y assumes managerial positions, the nature of leadership and business will change over the next few decades in irrevocable and profound ways.

In the past talent was largely an issue for Human Resources personnel. Now, in an era characterized by workforce heterogeneity and changing environments, talent is an important issue for managers themselves. This book explains the organizational transformations that have occurred and the new talent challenges managers have to confront.

There is no HR-related topic more popular in the business press than performance management (PM). There has been an explosion in writing on this topic in the past 5 years, condemning it as a failure and calling for fundamental change. The vast majority of organizations use the same basic process which I call “Last Generation Performance Management” or PM 1.0 for short. Despite widespread agreement that PM 1.0 is failing, few companies have abandoned it or made fundamental changes to it. While everyone agrees it is broken, few agree on how to fix it. Companies continue to tinker with their systems, making incremental changes every few years with no lasting improvement in effectiveness. Employees continue to achieve amazing things in organizations every day, despite this process not because of it. Nothing has worked because organizations, business leaders and HR professionals focus on PM practices instead of the fundamental purpose of PM and the paradigms, assumptions, and beliefs that underlie the practices. Companies ask their performance management process to do too many things and it fails at all of them as a result. At the foundation of PM 1.0 practices is the ideology of a meritocracy and paradigms rooted in standard economic and psychological theories. While these theories were adequate explanations for motivation and behavior in the 19th and 20th centuries, they fail to account for the increasingly complex nature of organizations and their environments today. Despite the ineffectiveness of PM 1.0, there are powerful forces holding it in place. Information on rigorous, evidence-based recommendations is crowded out by benchmarking information, case studies of high-profile companies, and other propaganda coming from HR think tanks and consultants. Business leaders and HR professionals learn about common practices not effective practices. This book confronts the traditional dogma, paradigms, and practices of PM 1.0 and holds them up to the bright light of scientific scrutiny. It encourages HR professionals and business leaders to abandon PM 1.0 and it offers up a more appropriate purpose for PM, alternative paradigms to guide them and practical solutions that are better supported by scientific research, referred to as “Next Generation Performance Management” or PM 2.0 for short.

Submitted Assignment from the year 2016 in the subject Business economics - Personnel and Organisation, grade: 1.0, University of applied sciences, Düsseldorf, course: Human Resource Management, language: English, abstract: Due to globalization and demographic changes, the context in which companies are operating has become more competitive and more complex. In fact, a new context has emerged, characterized by changes in the business environment including the market of potential candidates, which have led to the international challenge or “war for talent”, companies are facing today. Thus, there has been a transformation of the importance regarding the role and strategic management of talents within an organization which has meanwhile already become one of the top priorities in many companies. As a professional talent management can have a decisive influence on the future success and sustainability of an organization, many companies are seeking for suitable strategies and their operative implications to remain competitive.

Praise for BEST PRACTICES in TALENT MANAGEMENT "This book includes the most up-to-date thinking, tools, models, instruments and case studies necessary to identify, lead, and manage talent within your organization and with a focus on results. It provides it all—from thought leadership to real-world practice." PATRICK CARMICHAEL HEAD OF TALENT MANAGEMENT, REFINING, MARKETING, AND INTERNATIONAL OPERATIONS, SAUDI ARAMCO "This is a superb compendium of stories that give the reader a peek behind the curtains of top notch organizations who have wrestled with current issues of talent management. Their lessons learned are vital for leaders and practitioners who want a very valuable heads up." BEVERLY KAYE FOUNDER/CEO: CAREER SYSTEMS INTERNATIONAL AND CO-AUTHOR, LOVE 'EM OR LOSE 'EM "This is a must read for organization leaders and HR practitioners who cope with the today's most critical business challenge—talent management. This book provides a vast amount of thought provoking ideals, tools, and models, for building and implementing talent management strategies. I highly recommend it!" DALE HALM ORGANIZATION DEVELOPMENT PROGRAM MANAGER, ARIZONA PUBLIC SERVICE "If you are responsible for planning and implementing an effective talent and succession management strategy in your organization, this book provides the case study examples you are looking for." DORIS SIMS AUTHOR, BUILDING TOMORROW'S TALENT "A must read for all managers who wish to implement a best practice talent management program within their organization" FARIBORZ GHADAR WILLIAM A. SCHREYER PROFESSOR OF GLOBAL MANAGEMENT, POLICIES AND PLANNING SENIOR ADVISOR AND DISTINGUISHED SENIOR SCHOLAR CENTER FOR STRATEGIC AND INTERNATIONAL AFFAIRS FOUNDING DIRECTOR CENTER FOR GLOBAL BUSINESS STUDIES