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To date, research into urban economics, regional science and economic geography has predominantly focused on the firm and industry as the key units of analysis in order to understand economic development; however, the past few decades have seen a growing interest in the role played by talent in the knowledge economy. This book provides an essential overview of the skills revolution. It presents key milestones of the changes in economic development in the past few decades and explains the motivation behind the rise of talent, as well as its importance for cities and economies. It also offers advice on how to attract and manage talent – a major determinant of competitiveness for countries and regions around the world. In closing, the book explains the underlying theories and provides practical examples for students, researchers and practitioners alike.
The global race for talent is on, with countries and businesses competing for the best and brightest. Talented individuals migrate much more frequently than the general population, and the United States has received exceptional inflows of human capital. This foreign talent has transformed U.S. science and engineering, reshaped the economy, and influenced society at large. But America is bogged down in thorny debates on immigration policy, and the world around the United States is rapidly catching up, especially China and India. The future is quite uncertain, and the global talent puzzle deserves close examination. To do this, William R. Kerr uniquely combines insights and lessons from business practice, government policy, and individual decision making. Examining popular ideas that have taken hold and synthesizing rigorous research across fields such as entrepreneurship and innovation, regional advantage, and economic policy, Kerr gives voice to data and ideas that should drive the next wave of policy and business practice. The Gift of Global Talent deftly transports readers from joyous celebrations at the Nobel Prize ceremony to angry airport protests against the Trump administration's travel ban. It explores why talented migration drives the knowledge economy, describes how universities and firms govern skilled admissions, explains the controversies of the H-1B visa used by firms like Google and Apple, and discusses the economic inequalities and superstar firms that global talent flows produce. The United States has been the steward of a global gift, and this book explains the huge leadership decision it now faces and how it can become even more competitive for attracting tomorrow's talent. Please visit www.hbs.edu/managing-the-future-of-work/research/Pages/default.aspx to learn more about the book.
The microscope on talent is in sharp focus and HR has more programmes and processes to manage talent than ever before. Yet many CEOs continue to see talent management as an escalating risk. The truth is that market realities across the world are so fundamentally different that one size solutions almost never succeed. Talent Economics is a refreshingly new, outside-in view on talent, which brings workforce analysis, management practice and strategy together. It uses economic inquiry as a discipline to present a brand new perspective in talent management - as simply put - economics is the study of how the forces of supply and demand allocate scarce resources. Talent Economics presents business leaders an opportunity to step back and understand the ebb and flow of global talent, before translating this new understanding into a winning strategy.
The Economics of Talent Management and Human Capital is an academic book that offers a comprehensive overview of the concept of talent and its relationship with human capital and creativity. Written by leading experts in the field, the book highlights the shift in the US economy towards valuing talent, resulting in growing income inequality. The book proposes critical steps to address this issue: talent acquisition departments must lower expectations and practice self-discipline, investors should prioritize value creation over short-term gains, and the government must regulate the relationship between hedge funds and pension funds, tax carried interest as ordinary income, and revisit the overall tax structure. One of the book's unique contributions is its interdisciplinary approach, bringing together insights from economics, psychology, sociology, and management. This approach makes the book relevant for researchers and practitioners in a range of fields. This book serves as a guiding influence for policy and practice. It provides valuable insights into talent management and human capital, and is essential reading for academics, policymakers, business leaders, and anyone interested in the future of work and economic development.
How to Leverage Talent You Don’t Own Campbell Soup Company and PepsiCo seek advice from anthropologists to understand customer tastes and preferences. Google and Intel engage experts in social science and biomechanics to assess how people think about and use technology. Companies are gaining advantage through a new capability—strategic use of external experts—made possible by technology and the globalization of talent. Leaders everywhere recognize that “lean,” “agile,” and “fast” strategies require new ways to access and leverage—without owning—key talent to fill critical gaps. As managers seek nontraditional sources of strategic talent and experiment with fast, flexible ways of engaging these experts, they need a new roadmap. This book delivers that roadmap. It tells you how to assess, choose, attract, develop, support, and retain your external talent. Authored by thought leaders and bestselling authors in leadership and talent management who teach and consult globally, Agile Talent reveals how companies such as Apple, Uber, Airbnb, Google, IBM, and Bain Capital organize and manage new forms of talent in innovative ways. Supported by survey data and packed with tools and templates for applying these ideas, this book is the ultimate guide for winning the next war for talent.
The authors lift the veneer off 'employability' to expose serious problems in the way that future workers are trying to manage their employability, how companies understand their human resource strategies and government failure to come to terms with the realities of the knowledge-based economy.
Presents a set of positive changes in corporate strategies, industry norms, regional policies, and national laws that will incentivize talent flow, creativity, and growth.
The Times (UK) book of the year! Meritocracy: the idea that people should be advanced according to their talents rather than their birth. While this initially seemed like a novel concept, by the end of the twentieth century it had become the world's ruling ideology. How did this happen, and why is meritocracy now under attack from both right and left? In The Aristocracy of Talent, esteemed journalist and historian Adrian Wooldridge traces the history of meritocracy forged by the politicians and officials who introduced the revolutionary principle of open competition, the psychologists who devised methods for measuring natural mental abilities, and the educationalists who built ladders of educational opportunity. He looks outside western cultures and shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocratic system. Wooldridge also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.
The art and science of talent search: how to spot, assess, woo, and retain highly talented people. How do you find talent with a creative spark? To what extent can you predict human creativity, or is human creativity something irreducible before our eyes, perhaps to be spotted or glimpsed by intuition, but unique each time it appears? Obsessed with these questions, renowned economist Tyler Cowen and venture capitalist and entrepreneur Daniel Gross set out to study the art and science of finding talent at the highest level: the people with the creativity, drive, and insight to transform an organization and make everyone around them better. Cowen and Gross guide the reader through the major scientific research areas relevant for talent search, including how to conduct an interview, how much to weight intelligence, how to judge personality and match personality traits to jobs, how to evaluate talent in online interactions such as Zoom calls, why talented women are still undervalued and how to spot them, how to understand the special talents in people who have disabilities or supposed disabilities, and how to use delegated scouts to find talent. Talent appreciation is an art, but it is an art you can improve through study and experience. Identifying underrated, brilliant individuals is one of the simplest ways to give yourself an organizational edge, and this is the book that will show you how to do that. Talent is both for people searching for talent and for those who wish to be searched for, found, and discovered.