Paying a little more for talent is OK. But diminishing returns follow to anyone, including an organization like the Yankees, who pays 3x as much for the same number of "employees" as their competitors. Case in point – the Cleveland Indians, who crushed the Yankees with less than 1/3 of the New York payroll (61M to 195M). Flash to Game …
Cost of Talent – Lessons from George Steinbrenner and Moneyball…
By now, you’ve heard that George Steinbrenner (owner of the New York Yankees) fired a manager with 4 World Championships – Joe Torre. While firings happen and the big wheel keeps on turning, it made me think a little bit about the cost of talent and what your money actually buys you. First, a little history. The Yankees have always …
Why “Cash Money” Won’t Save Your Best Talent…
Check out my article at workforce.com (Money Won’t Buy You Love) that went in 2007 if you have time… The theory? Your managers will tell you that cash is king when it comes to retaining top talent. The truth is, you’ll never deliver enough money to keep the stars from moving across the street if they want to. It takes …
Talent Primer – The Cost of Reinventing Yourself
Earlier this week I profiled the recent research concluding that today’s American men have less income than their fathers’ generation did at the same age, according to a new analysis by the Economic Mobility Project. My conclusion? That globalization has turned many jobs into commodities, which means those jobs likely get shut down and performed somewhere else over time. As …
Talent Economics – Our Parents (on average) Made More Than Us, and It’s Complicated…
Are we all destined to be George Costanza? Offspring who never deliver on the dreams our parents envisioned for us? There’s some hand wringing going on about the viability of the American Dream, as today’s American men are reported have less income than their fathers’ generation did at the same age, according to a new analysis by the Economic Mobility …