Training and Development Process

Summary

This 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

00:00

📈 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.

05:00

📊 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.

Keywords

💡Training and Development

Training and development refer to the systematic efforts by an organization to enhance the job performance and personal growth of its employees. In the context of the video, this process is crucial as it aligns with the company's strategic goals. The script mentions that training activities are chosen to support the business strategy, highlighting their importance in achieving organizational objectives.

💡Business Strategy

A business strategy outlines the long-term goals and plans a company intends to pursue. It is the foundation upon which training and development initiatives are built, as depicted in the script. The video emphasizes that the training process begins with identifying the business strategy, suggesting that it is a guiding force for all subsequent training activities.

💡Strategic Initiatives

Strategic initiatives are specific actions or programs that support the broader business strategy. The script discusses how these initiatives are chosen to align with the company's strategic training and development goals, indicating that they are deliberate and purposeful efforts to achieve the company's mission and vision.

💡Metrics

Metrics are quantifiable measures used to assess performance and effectiveness. In the video, metrics are identified to determine whether training has contributed to business strategy goals. They serve as a way to evaluate the success of training programs and ensure they are delivering the intended results, as mentioned in the context of determining whether training has helped achieve business-related goals.

💡Company Mission

A company mission is a statement that defines the core purpose of an organization. The script explains that the mission typically includes information on the customers served, the value provided, and the company's reason for existence. It sets the stage for how training and development initiatives should be designed to support the company's overarching purpose.

💡Company Goals

Company goals are the specific, measurable objectives that a company aims to achieve in the mid to long term. The script mentions that these goals reflect how the mission can be carried out, and training can contribute to various business goals, including those related to satisfying stakeholders such as shareholders, customers, and employees.

💡Stakeholders

Stakeholders are individuals or groups who have an interest in the success of a company. The video script uses this term to describe parties like shareholders, customers, and employees who are affected by the company's performance. Training and development initiatives are designed with these stakeholders in mind, aiming to meet their needs and contribute to the company's success.

💡SWOT Analysis

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a strategic planning tool used in the script to analyze and evaluate the internal and external factors that influence a company. The video emphasizes that combining external and internal analysis forms the basis for strategic choices, including those related to training and development.

💡Balanced Scorecard

The Balanced Scorecard is a performance measurement framework that the script mentions as a way to evaluate various aspects of a business, including training. It provides a comprehensive view of performance from multiple perspectives, such as customer, internal processes, innovation and learning, and financial. The video suggests that metrics used to assess training's contribution are part of this broader evaluation tool.

💡Continuous Improvement

Continuous improvement is the ongoing effort to enhance processes, products, or services. In the context of the video, it is mentioned as one of the metrics under the innovation and learning perspective of the Balanced Scorecard. This concept underscores the importance of ongoing training and development to drive improvement and adapt to changes in the business environment.

💡Alignment

Alignment refers to the consistency and coordination between different aspects of an organization, such as its strategy, initiatives, and activities. The script discusses the importance of aligning strategic training initiatives with business strategy to ensure that training activities are in sync with the company's goals. This alignment is crucial for the effectiveness of training and development efforts.

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]

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