Developing the Talent You Have: Strategies for Training and Development…
Developing the Talent You Have: Strategies for Training and Development
Formal and Informal approaches to skill training
keep skills of employees current with advancing technologies and business practices
help employees master the skills they need to advance within the company
mutually beneficial arrangement
companies that provide effective skill training gain the benefit of workers who are well versed in current standards, and employees maintain their "employability" and in some cases, advance to higher levels
Does it have a systematic and broad-based program of skill training?
How do employees perceive the quality of that training?
Is training clearly aligned with company requirements and strategy
Average spending is 2 percent of payroll on employee training
On the job training (OJT)
least costly because it doesn't take the employee out of production
the most prevalent approach to skill development by US companies
unstructured and involve neither designated trainers nor training materials
align employee training with business strategy
by controlling the curriculum, the firm can focus on training on the specific skills that complement its strategy. this reduces the problem of skill shortages in key positions
assure a continual upgrade of internal knowledge
professional knowledge needs to be updated
Why training pays, with tips for reducing costs through online learning
lower cost to supply
elimination of travel costs and lost production time
scaleable to any level of demand
despite advantages, experts warn that online learning is seldom a complete training solution
The retention benefits of career development
umbrella term that describes the many training experiences, work assignments, and mentoring relationships that move people ahead in their vocations
career development is a form of internal hiring
logical series of stages that move a talented and dedicated employee through progressively more challenging and responsible positions
most effective when it avoids plateaus
that stuck feeling creates the potential for defection
what career ladders are available to your valued employees right now?
are they aware of those ladders and taking advantage of them?
have you identified and made some provisions for the skills and experiences that our charges will need to climb into the next level?
who, if anyone, is currently stuck on a plateau? what can be done to get them off the plateau?
some firms systematically analyze a person's current level of skills and experience and match those against the skills and experiences needed at the next step up the ladder
gaps between what the person has and what he or she needs are then addressed through a plan that involves some combination of formal training, special assignments, and regular mentoring by a respected superior
How mentors build bonds between talented employees and their companies
few successful people are entirely self-made
they set high standards
they make themselves available to their charges
they orchestrate developmental experiences
can empathize with an employee facing special challenges
have a nurturing attitude
exemplify the best of the company's culture
have rock solid links to the organization
"we care about you and think that you are important"
What to do with C performers
A performers: contributions are execeptional
B performers: do very good work
C performers: do work that is just barely acceptable
Should you invest in their improvement or simply move them out of the way?
Three step approach
identify C performers
Agree on explicit action plan for each C performer
skill training may be most effective
hold managers accountable for the improvement or removal of C performers
If they fail to improve after coaching in these new positions, it is in the organization's best interest to let them go
How organizational performance would improve if you could shift a C performer to the next highest level
what would be the cost of doing this relative to the benefits?
is the cost less than the benefits?
if the cost exceeds the benefits, then the recourse is to either move the individual to a job he or she can do better, or to ask the person to leave the organization
treat the cost of employee development as an investment; it does have a real payoff, and it should reduce costs associated with the turnover of valued personnel
be sure that employee development is aligned with company goals and strategy
use online learning to supplement and reduce the cost of formal training
map our career ladders to move talented and dedicated employees to higher levels of responsibility and performance, using formal training, mentoring, and special assignments as rungs on those ladders
deal decisively with C performers. they must improve their performance (using training as necessary), move to positions where they can perform at higher levels, or leave the company