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Many boards and senior managers have embraced talent management in order to create high-performance organizations, yet many approaches are expensive and ineffective. This article presents Talent Management 2 and summarizes the results of a five-year investigation into the merits of different ways of improving corporate performance. It suggests that it is often cheaper to work with existing employees and to put the right support environment in place, rather than recruiting top talent. Evidence from early adopters of “performance support,” a key component of Talent Management 2, suggests that it represents a quick, cost-efficient way of securing large returns on investment and achieving multiple objectives. These adopters are building critical success factors into the processes for key activities and adopting cost-effective ways of helping employees emulate the methods of high performers. Instead of focusing on investing in talented employees who may not be retained long enough to yield returns on the company’s investment, Talent Management 2 focuses on boosting the performance of today’s key workgroups. Providing better support can enable more to be achieved by fewer and less costly staff.