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Excerpt--Reinventing Talent Management

    
 

Reinventing Talent Management: How to Maximize Performance in the New Marketplace

By William A. Schiemann
2009, 288 pages, Hardcover
ISBN: 978-0-470-45226-4
SHRMStore Item #: 61.13506

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FOREWORD

“Our people are our most important asset”

This is the management mantra I have heard during my career of more than 30 years in the field of human resource management. But where this phrase was once rattled off by executives and managers as trite and meaningless rhetoric (because they never really meant or acted on it), today it’s quite different. Today, this phrase is uttered in hushed and fearful tones by executives and managers acknowledging and contemplating the challenges of delivering value within their organization through people. In short, the rhetoric has been taken over by the reality.

As business and organizational leaders have confronted this new reality, they have looked for new ways to better understand, measure, and manage this important asset. While they may understand intuitively the importance of their talent strategies to organizational success, they yearn for a model that allows them to conceptualize, measure their progress, and leverage this asset to add greater value.

For many, the push for a new model arose in the context of rapid growth and change in their organizations or industries. How do we get a handle on the value of the growing enterprise when so much of it is related to the talent we find, keep, or lose? But the value of such a model becomes even more important during significant economic turmoil. How can we fully value our organizations in a chaotic environment when we can’t really assess the equity we’ve built through our talent management? How do we make decisions regarding our very survival when we don’t fully appreciate whether or not we can execute new strategies with the talent we have, and don’t fully appreciate the talent we’ll need?

With this book, Dr. Schiemann has provided such a model. The book represents a fresh approach to talent management by presenting a fresh concept in the People Equity framework.

Based on sound research, insight and experience garnered from more than 70 academics, C-suite executives, practitioners, and talent Thought Leaders, Bill has provided information, tools and ideas for challenging old ways of thinking. And thankfully, yours doesn’t have to be a huge organization to apply them. In short, the People Equity framework provides the human resource management field with a model similar to what Process Re-engineering, the Balanced Scorecard, and Six Sigma did for other elements of the business.

In a global economy with periods of booms and bust, Bill’s People Equity framework is a welcome addition to the knowledge we’ll all need to survive and thrive.

—Susan R. Meisinger, SPHR, JD, Retired CEO, Society for Human Resource Management

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