The Mismanagement of Talent : Employability and Jobs in the Knowledge Economy

This book lifts the veneer of 'employability', to expose serious problems in the way that future workers are trying to manage their employability in the competition for tough-entry jobs in the knowledge economy; in how companies understand their human resource strategies and endeavor to recruit the managers and leaders of the future; and in the government failure to come to terms with the realities of the knowledge-based economy. The demand for high-skilled, high waged jobs, has been exaggerated. But it is something that governments want to believe because it distracts attention from thorny political issues around equality, opportunity, and redistribution. If it is assumed that there are plenty of good jobs for people with the appropriate credentials then the issue of who gets the best jobs loses its political sting. But if good jobs are in limited supply, how the competition for a livelihood is organized assumes paramount importance. This issue, is not lost on the middle classes, given that they depend on academic achievement to maintain, if not advance the occupational and social status of family members. The reality is that increasing congestion in the market for knowledge workers has led to growing middle class anxieties about how their off-spring are going to meet the rising threshold of employability that now has to be achieved to stand any realistic chance of finding interesting and rewarding employment. The result is a bare-knuckle struggle for access to elite schools, colleges, universities and jobs. This book examines whether employability policies are flawed because they ignore the realities of 'positional' conflict in the competition for a livelihood, especially as the rise of mass higher education has arguably done little to increase the employability of students for tough-entry jobs. It will be of interest to anyone looking to understand the way knowledge-based firms recruit and how this is influenced by government policy, be they Researchers, Academics and Students of Business and Management, Industrial Relations, Human Resource Management, Politics or Sociology; Human Resource Management or Recruitment Professionals; or job candidates. The Knowledge Economy Conjures A World Of Smart People, In Smart Jobs, Doing Smart Things, In Smart Ways, For Smart Money, Increasingly Open To All Rather Than A Few. Glossy Corporate Brochures Present A Future In Challenging, Exciting, And Financially Rewarding Jobs For The Winners In This Competition For Fast Track Management Appointments. They Also Convey An Image Of Enlightened Employers Actively Seeking To Diversify Their Talent Pool, Reflected In Their Approach To Identifying, Hiring, And Retaining Outstanding Talent. We Are Told That The Challenge Confronting Governments Around The World Is To Enhance The Employability Of The Workforce. Every Effort Must Be Made To Expand Access To Higher Education, Dismantle Barriers To Talent Regardless Of Social Circumstances, Gender, Or Skin Colour, And To Harness Human Creativity And Enterprise To Meet The Demands Of The New Economy. The Mismanagement Of Talent Comes To A Different Conclusion.^ Those Leaving The World Of Mass Higher Education Find Themselves In A Scramble For Jobs With Increasingly High Stakes For The Winners And Losers. The Mismanagement Of Talent Examines What Determines The Outcome Of This Race When A Degree Loses Its Badge Of Distinction. It Shows How Some Students Are Playing 'the Game' To Win A Competitive Advantage And What Really Happens In The Selection Events Of Leading-edge Employers. It Also Argues That Talent Is Being Mismanaged By Employers That Have Yet To Come To Terms With The Realities And Possibilities Of Mass Higher Education.^ The Mismanagement Of Talent Will Be Thought-provoking And Controversial Reading For Those Concerned With The Way Knowledge-based Firms Recruit And How This Is Influenced By Government Policy, Be They Researchers, Academics, Or Students Of Business And Management, Industrial Relations, Human Resource Management, Politics, Or Sociology; Professionals Working In University Careers Services, Hrm, Training, Or Recruitment Generally; Or Job Candidates Themselves.--jacket. 1. The Promise : Some Promising Questions ; The Study ; Lifting The Veneer Of Employability -- 2. The New Competition : The Win-win Scenario ; Redefining Employability ; The Rise Of Personal Capital -- 3. What Knowledge Economy? : A Knowledge Economy ; What Knowledge Economy ; Nice Work, If You Can Get It -- 4. The War For Talent : Talent Management: A Strategic Business Challenge ; The Rising Demand For High-calibre Managerial Talent ; Meeting The Demand For Talent When The Career Bargain Has Been Broken ; All For The Best ; Talent: A Limited Commodity? ; Diversity: Tapping The Pool For Talent? ; The War For Reputational Capital ; Managerial Talent: A Historical Interlude -- 5. The Science Of Gut Feeling : Pythagoras' Legacy ; Making Up People ; Hidden Persuaders -- 6. Players And Purists : Pt. 1. Great Expectations ; Pt. 2. The Games People Play -- 7. Picking Winners : Pt. 1. The Rhetoric Of Competence ; Pt. 2. Winners And Losers -- 8. The Wealth Of Talent : The Wrong Metaphor ; Talent: A Limited Commodity? ; Talent Spotting ; Enhancing The Diversity Of Talent ; From Sponsored Mobility To Contest Mobility -- 9. The Great Training Robbery : Peddling Employability ; Degrees Of Worth: Why Some Are More Equal Than Others ; People Are Our Most Valuable Asset ; The Price Of Success. Phillip Brown And Anthony Hesketh With Sara Williams. Includes Bibliographical References (p. [233]-262) And Index. Contents......Page 8 List of Figures......Page 10 List of Tables......Page 11 1. The Promise......Page 12 Some Promising Questions......Page 13 The Study......Page 15 Lifting the Veneer of Employability......Page 17 The Win–Win Scenario......Page 26 Redefining Employability......Page 33 The Rise of Personal Capital......Page 42 3. What Knowledge Economy?......Page 52 A Knowledge Economy......Page 53 What Knowledge Economy?......Page 58 Nice Work, if You Can Get It......Page 69 4. The War for Talent......Page 76 Talent Management: A Strategic Business Challenge......Page 77 The Rising Demand for High-Calibre Managerial Talent......Page 80 Meeting the Demand for Talent when the Career Bargain has been Broken......Page 81 All for the Best......Page 82 Talent: A Limited Commodity?......Page 87 Diversity: Tapping the Pool for Talent?......Page 91 The War for Reputational Capital......Page 95 Managerial Talent: A Historical Interlude......Page 97 Conclusion......Page 99 Introduction......Page 102 Pythagoras’ Legacy......Page 105 Making Up People......Page 119 Hidden Persuaders......Page 123 Introduction......Page 126 Part One: Great Expectations......Page 127 Part Two: The Games People Play......Page 135 Conclusion......Page 156 7. Picking Winners......Page 158 Part One: The Rhetoric of Competence......Page 159 Part Two: Winners and Losers......Page 172 Conclusion......Page 197 Introduction......Page 200 The Wrong Metaphor......Page 202 Talent: A Limited Commodity?......Page 204 Talent Spotting......Page 209 Enhancing the Diversity of Talent......Page 214 From Sponsored Mobility to Contest Mobility......Page 220 Conclusion......Page 222 Peddling Employability......Page 226 Degrees of Worth: Why Some are More Equal Than Others......Page 229 People are Our Most Valuable Asset.........Page 232 The Price of Success......Page 237 Conclusion......Page 242 Notes......Page 244 B......Page 274 C......Page 275 E......Page 277 G......Page 279 I......Page 280 K......Page 281 M......Page 282 O......Page 283 P......Page 284 R......Page 285 S......Page 286 T......Page 287 W......Page 288 Z......Page 289 The knowledge economy conjures a world of smart people, in smart jobs, doing smart things, in smart ways, for smart money, a world increasingly open to all rather than a few. Glossy corporate brochures present a future in challenging, exciting and financially rewarding jobs for the winners in the competition for fast track management appointments. They also convey an image of enlightened employers actively seeking to diversify their talent pool, reflected in their approach to identifying, hiring and retaining outstanding talent. We are told that the challenge confronting governments around the world is to enhance the employability of the workforce. Every effort must be made to expand access to higher education, dismantle barriers to talent regardless of social circumstances, gender, or skin colour, and to harness human creativity and enterprise to meet the demands of the new economy. The Mismanagement of Talent comes to a different conclusion. Those leaving the world of mass higher education find themselves in a scramble for jobs with rising stakes for the winners and losers. The Mismanagement of Talent examines what determines the outcome of this race when a degree loses its badge of distinction. It shows how some graduates are playing 'the game' to win a competitive advantage and what really happens in the selection events of leading-edge employers. It also argues that talent is being mismanaged by employers that have yet to come to terms with the realities and possibilities of mass higher education. The Mismanagement of Talent will be thought-provoking and controversial reading for those involved in the recruitment of graduates, and those concerned with the way knowledge-based firms recruit and the impact of higher education policy: Professionals working in university careers services, HRM, training, or recruitment generally; Researchers, academics, or students of Business and Management, Human Resource Management, Public Policy, Education, or Sociology; and Job candidates themselves - the 'players' and 'purists' described in the book. 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 This work lifts the veneer of 'employability', to expose serious problems in the way that future workers are trying to manage their employability in the competition for tough-entry jobs in the knowledge economy