Acquiring talent

A company like Google has few fixed assets - it lives off its knowledge, embedded in the talent of its workforce. Having the capability to attract and select individuals who have the necessary competencies and whose values fit with the organization is a high priority for Google and other successful international firms. In this chapter we build on the story of Google to introduce the concept of ‘talent’ in the context of multinational firms and to discuss challenges in talent management. The main part of the chapter discusses how companies can effectively recruit and select employees. We first describe how multinationals should develop global employer brands that help them attract suitable individuals while offering attractive employee value propositions to both the existing work force and to potential job candidates. We then focus on the process through which companies select new employees. While there exists a large body of research on the validity of different employee selection methods that can guide firms in their hiring practices, the popularity of specific selection tools varies across countries. Advances in data science are opening new possibilities as well as challenges for the forerunners in the application of artificial intelligence to recruitment. We conclude the chapter by discussing ways to increase diversity when recruiting talent