Moving on -- Analysts' labor market -- The limits of portability -- Do firms benefit from hiring stars? -- Stars and their galaxies : firms of origin and portability -- Integrating stars : the hiring firm and portability of performance -- Liftouts (taking some of it with you) : moving in teams -- Women and portability : why is women's performance more portable than men's? -- Star formation: developmental cultures at work -- Turnover : who leaves and why -- A special case of turnover : stars as entrepreneurs -- Measuring and rewarding stars' performance -- Lessons from Wall Street and elsewhere
Summary
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 two hundred 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
