Workforce of One
How to personalize career management so as to attract and retain top talent?
Author(s): Susan M. Cantrell, David Smith
Publisher: Harvard Business Press
Date of publication: 2010
Manageris opinion
In a globalized and diversified talent market, companies that wish to attract and retain top talent must treat every employee as an “individual asset.” This means replacing standardized HR practices with personalized practices, that is, adapted to the strengths, motivations, interests and career aspirations of each employee. Individualizing career paths is, in fact, beneficial in many ways, as it helps to reduce staff turnover and increase the company’s overall productivity and profitability.
The authors suggest four approaches to establish a personalized career management system: segmentation, modular options, simple shared rules, and customized itineraries defined by the concerned individuals. Each approach is illustrated with examples of pioneers in the particular domain, e.g., Best Buy, Microsoft or Men's Wearhouse, which highlight the corresponding benefits and challenges. This very practical and structured book thus provides a helpful roadmap to any company wishing to personalize its talent development, without sacrificing the advantages of more standardized HR management practices, such as control, efficiency and equity.
In a globalized and diversified talent market, companies that wish to attract and retain top talent must treat every employee as an “individual asset.” This means replacing standardized HR practices with personalized practices, that is, adapted to the strengths, motivations, interests and career aspirations of each employee. Individualizing career paths is, in fact, beneficial in many ways, as it helps to reduce staff turnover and increase the company’s overall productivity and profitability.
The authors suggest four approaches to establish a personalized career management system: segmentation, modular options, simple shared rules, and customized itineraries defined by the concerned individuals. Each approach is illustrated with examples of pioneers in the particular domain, e.g., Best Buy, Microsoft or Men's Wearhouse, which highlight the corresponding benefits and challenges. This very practical and structured book thus provides a helpful roadmap to any company wishing to personalize its talent development, without sacrificing the advantages of more standardized HR management practices, such as control, efficiency and equity.
