Investing in Talent is Good for the US and the World

April 29, 2016

Karl Marx predicted capitalism would ultimately fail because paid work would alienate us from our true selves. Fast forward 250 years, and we view what we do at work as an essential part of who we are as people. That is why today’s worries about the future of work are so important—not only economically, but also socially and psychologically. At Wharton’s 2016 People Analytics Conference Byron Auguste, former number two in President Barack Obama’s National Economic Council, told me that the cause of America’s jobs problem isn’t outsourcing, automation, or migration; it’s “market failure” in the labor market —both how we hire people, and how we develop talent. Byron helped found Opportunity@Work to “re-wire” the American labor market, with an agenda that Reid Hoffman believes could significantly move the dial on inclusion and diversity in Silicon Valley. He made two big points in our conversation: Resumes (what we have done) matter too much in the hiring process relative to capability (what we can do), and this is being made worse by the recent move to algorithmic sifting of job applications. Developing talent suffers from a big collective action problem. For any employer, it is rational to spend scarce resources luring talent developed than to develop talent in house. Do otherwise, and you risk losing the talent you have invested in. Rational individual behavior generates a badly suboptimal societal outcome. Auguste thinks the solution to both problems is “just-in-time,” skills-based training. If government won’t pay for this, philanthropy and non-profits should. I agree with him. That is one important reason Wharton has made such a big push in MOOCs and online learning. They provide a convenient and affordable way for people all around the world to acquire the business skills they need to succeed at work. At the Penn Wharton China Summit, […]

Investing in Talent is Good for the US and the World

What is Your Level of Aspiration?

April 27, 2016

What’s your level of aspiration? Robert Keidel discusses our tendency to underachieve and how setting higher goals can allow us to reach our true potential.

What is Your Level of Aspiration?

The 10% Entrepreneur

April 25, 2016

Julio German Arias Castillo discusses balancing a traditional career path with aspirations of entrepreneurship and the ways in which “The 10% Entrepreneur” by Patrick McGinnis provides a roadmap for hopeful entrepreneurs.

The 10% Entrepreneur

The Strengths Spectrum

April 22, 2016

Alissa Finerman discusses understanding our strengths, and using them effectively to move toward our goals.

The Strengths Spectrum
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