Do you make significant investments in the training and development of your people and would like to increase the return on this investment?
According to research, one of the issues faced by many Russian companies is the low productivity of employees, which has a negative impact on the business performance of the company. Along with inefficiencies in business processes, obsolete production assets and low competition in some of the industries, one of the key obstacles to improving performance is the quality of management. The lack of high-quality managers, who can use a variety of leadership styles and have experience in creating effective teams, inhibits the development of many companies and limits their ability to adapt effectively in a high-risk environment.
In recent years, the situation has been improving; many Russian companies are investing in the development of their people through leadership development programs, training and coaching. For those who are actively investing questions arise as to the quality of service providers, structuring of the development program and achieving a desirable cost-efficiency ratio. We often hear a question: how do we calculate the ROI on development of our people? How can we improve the return on that investment?
With you we look at the key factors that ensure the maximisation of return on your investment in people development:
• Compliance with the 70/20/10 ratio (on the job experiences / feedback, coaching, mentoring / classroom training*);
• Culture that supports people to take interest in their personal development, feedback culture in particular;
• Understanding of management’s expectations of what must change in employee’s behaviour as a result of participating in a development programme;
• Tone from the top: senior management’s commitment to personal development;
• Working Talent Management system within the company.
Based on the results of our joint analysis we can work with you in the following areas:
• Creating a learning organisation and a culture of learning and development where the main carriers of culture are people at all levels in the organisation;
• Introduction of a coaching culture – as an important tool for creating a learning organisation;
• Shared understanding amongst people at different levels of the following relationship: self-development, mentoring, knowledge sharing -> atmosphere of cooperation -> achievement of greater results and strategic objectives.
• Taking responsibility for their own learning and development, and development of their colleagues;
• Enhancing learning through increased interest and motivation in people’s own development, and support of top management;
• Shifting the focus from learning from external sources to the use of internal resources and knowledge;
• Establishment of Talent Management and Succession Planning;
• Creation of opportunities for development through practice in the workplace.
The result of our collaboration is the creation of a learning organisation – an organisation capable of not only effectively maintaining its current operations, but also constantly looking for new sources for growth, and implementing improvements.
• Michael M. Lombardo and Robert W. Eichinger for the Center for Creative Leadership