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 200 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 Stars offers 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.
©2010 Boris Groysberg (P)2010 Gildan Media Corp
"What if talent is more like an orchid, thriving in certain environments and dying in others? It's an interesting question, full of nature-versus-nurture overtones; we could debate it endlessly. But Boris Groysberg, a professor at Harvard Business School, has spoiled the debate with an unsporting move. He's gathered some data. And what he discovered forces us to rethink the argument." (Fast Company)
This is well-Delivered and interesting content. Although Groysberg's focus is narrow, he shines light on information useful for other hiring managers and job seekers alike. He points out the difference in the ways men and women consider new job opportunities based at least to some extent on their perspective on personal skills versus social networking and infrastructure support. Though I'd like to see a broader study, he does a good job explaining why he chose sell side analysts and concedes that these reasons limit applicability in different spheres.
business books fan
the facts in this book are well explained, and it is well rounded and commented with exemple to make all the things more real, for me the part which was fascinating was the part about women.
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