Assuming luck is irrelevant, success is fundamentally based on talent and effort. Talent is the skills and knowledge someone possesses. Effort is how much someone works. Someone can be talented, but lazy, or someone could be not talented, but hard-working. That person has to work hard to compensate for the lack of skill.
Key Takeaways:
- A recent industry report by Deloitte based on over 2,500 leaders from 90 countries showed that most employers are ill-prepared to tackle key talent identification challenges.
- Furthermore, scholars have recently argued for a more collectivistic approach to talent management, suggesting that individual stars are less important than previously thought, and that overpaying them could harm team performance.
- In any organization or group, a few people will make a disproportionate contribution to the collective output.
“Clearly, some people are both talented and hard-working, but there is often a tension between the two. Talent can make people lazy because they need to rely less on hard work to achieve the same goal.”
http://www.ceo.com/strategy/talent-matters-even-more-than-people-think/
