It's time for a fundamentally new approach to talent management. Fortunately, companies already have such a model, one that has been well honed over decades.It's time for a new model. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Talent management is arguably one of the most important topic areas in organizations today. This chapter reviews these developments and argues that, despite differences in terminology and points of emphasis, there is virtually complete convergence. In S. W. J. Kozlowski (Ed.), The Oxford handbook of organizational psychology, Vol. In the late nineteenth century, conservative French economists such as Paul Leroy-Beaulieu. A Laboratory Management Tool for the 21st Century.