Training and Development Process
Summary
TLDRThis script explores the strategic training and development process, emphasizing its alignment with business strategy. It outlines the steps from identifying business strategy to selecting training initiatives, translating them into activities, and measuring their effectiveness through metrics. The script highlights the importance of a company's mission, vision, goals, and SWOT analysis in shaping strategic training initiatives. It also discusses the role of the balanced scorecard in evaluating training's contribution to business outcomes, focusing on customer, internal, innovation, and financial perspectives.
Takeaways
- 🔍 The strategic training and development process starts with identifying the business strategy.
- 🎯 Strategic initiatives are chosen to support the business strategy, focusing on training activities that align with company goals.
- 🛠️ The process involves translating strategic initiatives into concrete training and development activities.
- 📏 Metrics are identified to measure the effectiveness of training in contributing to business strategy goals.
- 🏢 A company's mission statement outlines its reason for existing, the customers it serves, and its values.
- 🌟 The company's vision is a future-oriented picture of what the company aspires to achieve.
- 🎯 Company goals are mid to long-term objectives that reflect how the mission will be executed.
- 🔍 SWOT analysis combines internal and external analyses to identify strengths, weaknesses, opportunities, and threats.
- 🛣️ Strategic training initiatives are learning-related actions designed to help achieve business strategy.
- 🔗 To avoid disconnect, learning professionals must collaborate with managers to ensure training initiatives align with business strategy.
- 📈 The balanced scorecard is used to evaluate business outcomes related to training and development, including customer, internal, innovation, and financial perspectives.
Q & A
What is the starting point of the strategic training and development process?
-The process begins with identifying the business strategy.
What are the strategic training and development initiatives?
-These are learning-related actions a company should take to help achieve its business strategy.
How do strategic training and development initiatives translate into concrete activities?
-They are translated into specific training and development activities that will enable these initiatives to be achieved.
What are the metrics used to determine if training has contributed to business strategy goals?
-Metrics are measures that determine whether training has helped contribute to goals related to business strategy.
What are the five major components involved in developing or changing a business strategy?
-The five major components are the company's mission, company goals, external analysis, internal analysis, and SWOT analysis.
What is the purpose of a company's mission statement?
-A mission statement is a statement of the company's reason for existing, including information on the customers served, why the company exists, what it does, the value received by customers, and the technology used.
How do stakeholders play a role in company goals?
-Stakeholders, which include shareholders, the community, customers, employees, and other interested parties, are related to the goals a company hopes to achieve in the mid to long term.
What is a SWOT analysis and how does it contribute to strategic planning?
-A SWOT analysis is a strategic planning tool that combines internal and external analysis to identify the company's strengths, weaknesses, opportunities, and threats.
Why is it important for training initiatives to be aligned with business strategy?
-Aligning training initiatives with business strategy ensures that the training activities support the company's goals and that necessary financial resources and support are provided.
How often should training plans be updated to ensure they meet business needs?
-Training plans should be updated on a quarterly basis.
What is the balanced scorecard and how does it evaluate business performance?
-The balanced scorecard is a performance measurement method that provides managers with a comprehensive view of company performance from the perspectives of customers, internal processes, innovation and learning, and financial outcomes.
Outlines
📈 Strategic Training and Development Process
The paragraph outlines a strategic training and development process that aligns with a company's business strategy. It begins with identifying the business strategy and then selecting strategic training initiatives that support it. These initiatives are translated into concrete training activities. The final step is to identify metrics to measure the effectiveness of the training in contributing to business goals. The paragraph also discusses the components of developing or changing a business strategy, which include the company's mission, vision, goals, and a SWOT analysis. It emphasizes the importance of aligning training initiatives with business strategy and the need for financial resources and support. The paragraph also mentions that training plans should include both technical and interpersonal skills and be updated regularly to meet business needs.
📊 Measuring Training Effectiveness with the Balanced Scorecard
The second paragraph focuses on using the Balanced Scorecard to measure the effectiveness of training and development activities. The Balanced Scorecard is a performance measurement tool that looks at four perspectives: customer, internal processes, innovation and learning, and financial. Each perspective has specific metrics that align with the company's business strategy and goals. The paragraph provides examples of metrics for each perspective, such as customer satisfaction, operating efficiency, and profitability. It also mentions metrics that can be used to assess the contribution of training to the Balanced Scorecard, like the number of employees trained, training cost, and cost per hour of training.
Mindmap
Keywords
💡Training and Development
💡Business Strategy
💡Strategic Initiatives
💡Metrics
💡Company Mission
💡Company Goals
💡Stakeholders
💡SWOT Analysis
💡Balanced Scorecard
💡Continuous Improvement
💡Alignment
Highlights
The strategic training and development process begins with identifying the business strategy.
Strategic training initiatives are chosen to support the business strategy.
Concrete training activities are derived from strategic initiatives.
Metrics are identified to measure the effectiveness of training against business strategy goals.
A company's mission is a statement of its reason for existing and includes information on customers, operations, and values.
Company goals reflect mid to long-term aspirations and how the mission can be executed.
Stakeholders include shareholders, community, customers, employees, and other interested parties.
SWOT analysis combines internal and external assessments to form strategic choices.
Strengths and weaknesses are internally analyzed, while opportunities and threats are externally analyzed.
Strategic training initiatives are learning actions aligned with achieving business strategy.
Training initiatives vary by company and are based on industry, goals, resources, and capabilities.
Alignment between strategy and execution is crucial and requires communication between learning professionals and managers.
Training plans cover technical and interpersonal skills, developed to meet business needs.
Quarterly updates and monthly meetings with training staff and business leaders ensure training plans are relevant.
The balanced scorecard is used to evaluate business performance from multiple perspectives.
Metrics for the balanced scorecard include customer satisfaction, internal processes, innovation, and financial outcomes.
Examples of metrics to assess training's contribution include the number of employees trained and training costs.
Transcripts
[Music]
let's take a look at training and
development processes let's explore a
model of the strategic training and
development process with examples of
strategic initiatives training
activities and metrics this model shows
that the process begins with identifying
the business strategy next strategic
training and development initiatives
that support the strategy are chosen
translating these strategic training and
development initiatives into concrete
training and development activities is
the next step of the process the final
step involves identifying measures or
metrics these metrics are used to
determine whether training has helped
contribute to goals related to business
strategy five major components are part
of developing a new business strategy or
changing an existing one the first
component is the company's mission which
is a statement of the company's a reason
for existing company missions vary but
they typically include information on
the customer served why the company
exists what the company does the value
received by customers and the technology
used the mission statement is often
accompanied by a statement of the
company's vision or values the vision is
a picture of the future the company
wants to achieve well the values are
what the company stands for the second
component is company goals which are
what the company hopes to achieve in the
mid term to long term they reflect how
the mission can be carried out training
can contribute to a number of different
business goals both for-profit and
not-for-profit companies often include
goals related to satisfying stakeholders
the term stakeholders refers to
shareholders if the company is publicly
traded and for profit the community
customers employees and all other
parties that have an interest in seen
that the company succeeds a third and
fourth component external and internal
analysis are combined to form what's
called a SWOT analysis a SWOT analysis
consists of an internal analysis of
strengths and weaknesses and an external
analysis of opportunities and threats to
the company
that currently exists or our anticipated
external analysis involves examining the
operating environment to identify
opportunities and threats internal
analysis attempts to identify the
company's strengths and weaknesses
the strategic choice represented by SWOT
analysis is believed to be the best
alternative to achieve the company's
goals strategic training and development
initiatives are learning related actions
that a company should take to help
achieve its business strategy
the strategic training and development
initiatives vary by company depending on
a company's industry goods goals
resources and capabilities the
initiatives are based on the business
environment and an understanding of the
company's goals and resources and
insight regarding potential training and
development options they provide the
company with a roadmap to guide specific
training and development initiatives
there's a tendency to have a disconnect
between the strategy and the execution
of strategy to avoid this learning
professionals need to reach out to
managers to ensure that the strategic
training initiatives and training
activities are aligned with business
strategy and that necessary financial
resources and support are provided to
carry out training activities to
contribute to a company's business
strategy it's important that the
training function understand and support
it and provide value to its customers
training plans include both technical
and interpersonal skills required for
each group and how those skills will be
developed to ensure the training plans
help meet business needs they are
updated on a quarterly basis and monthly
meetings are held to include both
training staff and business leaders who
review training needs to discuss future
business plans the training staff
focuses on identifying the three to five
initiatives that are most important to
support business strategy after a
company chooses its strategic training
and development initiatives related to
its business strategy it then identifies
specific training and development
activities that will enable these
initiatives to be achieved
as a company determine whether training
and development activities actually
contribute to the business strategy and
goals this determination involves
identifying and collecting metrics
business level outcomes chosen to
measure the overall value of training
and learning initiatives the business
related outcomes should be directly
linked to the business strategy in goals
some companies use the balanced
scorecard as a process to evaluate all
aspects of the business the balanced
scorecard is a means of performance
measurement that provides managers with
a chance to look at overall company
performance or the performance of
departments or functions such as
training from the perspective of
internal and external customers
employees and shareholders the balanced
scorecard consists of four different
perspectives customer internal
innovation in learning and financial the
emphasis and type of indicators use to
measure each of these perspectives are
based on the company's business strategy
and goals the four perspectives and
examples of metrics used to measure them
include customer like time quality
performance service and costs internal
processes that influence customer
satisfaction innovation and learning
operating efficiency employee
satisfaction continuous improvement and
so on and finally financial including
profitability growth and shareholder
value metrics that might you be used to
assess train's contribution to the
balanced scorecard include employees
trained training cost and training cost
per hour
[Music]
you
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