Chasing Stars The Myth of Talent and the Portability of Performance

ISBN-10: 0691154511
ISBN-13: 9780691154510
Edition: 2012
Authors: Boris Groysberg
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Description: It is taken for granted in the knowledge economy that companies must employ the most talented performers to compete and succeed. Many firms try to buy stars by luring them away from competitors. But Boris Groysberg shows what an uncertain and  More...

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Book details

List price: $16.95
Copyright year: 2012
Publisher: Princeton University Press
Publication date: 3/25/2012
Binding: Paperback
Pages: 504
Size: 6.50" wide x 9.50" long x 1.25" tall
Weight: 1.474
Language: English

It is taken for granted in the knowledge economy that companies must employ the most talented performers to compete and succeed. Many firms try to buy stars by luring them away from competitors. But Boris Groysberg shows what an uncertain and disastrous practice this can be.After examining the careers of more than a thousand star analysts at Wall Street investment banks, and conducting more than two hundred frank interviews, Groysberg comes to a striking conclusion: star analysts who change firms suffer an immediate and lasting decline in performance. Their earlier excellence appears to have depended heavily on their former firms' general and proprietary resources, organizational cultures, networks, and colleagues. There are a few exceptions, such as stars who move with their teams and stars who switch to better firms. Female stars also perform better after changing jobs than their male counterparts do. But most stars who switch firms turn out to be meteors, quickly losing luster in their new settings.Groysberg also explores how some Wall Street research departments are successfully growing, retaining, and deploying their own stars. Finally, the book examines how its findings apply to many other occupations, from general managers to football players.Chasing Starsoffers profound insights into the fundamental nature of outstanding performance. It also offers practical guidance to individuals on how to manage their careers strategically, and to companies on how to identify, develop, and keep talent.

Boris Groysbergis a Professor in the Organizational Behavior unit at Harvard Business School. Previously, he worked at IBM. His first book,Chasing Stars, was published in 2010.Michael Slindis a communications professional. He has worked atFast Companymagazine and Harvard Business School.

Acknowledgments
Introduction
Talent and Portability
Moving On
Analysts' Labor Market
The Limits of Portability
Do Firms Benefit from Hiring Stars?
Facets of Portability
Stars and Their Galaxies: Firms of Origin and Portability
Integrating Stars: The Hiring Firm and Portability of Performance
Liftouts (Taking Some of It with You): Moving in Teams
Women and Portability: Why Is Women's Performance More Portable than Men�s?
Implications for Talent Management: Developing, Retaining, and Rewarding Stars
Star Formation: Developmental Cultures at Work
Turnover: Who Leaves and Why
A Special Case of Turnover: Stars as Entrepreneurs
Measuring and Rewarding Stars' Performance
Lessons from Wall Street and Elsewhere
Appendix
Notes
Index

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