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Employee Development

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Stacey Tawney

on 4 February 2014

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Transcript of Employee Development

Guiding Employees down the path of development
Step 2: Development Needs Analysis
The next phase in employee development is determining what type of development is needed.
Step 4: Determining the development and delivery method
Employees often achieve learning goals through three different methods: job experiences, feedback, and formal training.
As Managers, understanding the need for a skilled workforce is often the easy part. What is more difficult is knowing how to effectively guide employees in development. This Prezi will help you understand the "how" by walking you down the path of employee development.
Step 1: Understanding Roles and Responsibilities
The first step in effectively managing employee development is understanding our roles and responsibilities- both as an employee and as a manager.
Employees are responsible for discussing and defining development goals with you, surfacing any barriers to success, executing on their development goals and owning their development.
It is your responsibility to offer an open forum for discussion on a regular basis and to be an active participant in development discussions. This may include assisting in identifying learning needs or development actions. As a Manager, you are also responsible for sharing feedback on development goals, discussing development opportunities with employees, considering resource constraints and budget, providing coaching and support as needed, and monitoring and reviewing progress on employee development.
Employee development is a shared responsibility...
Methods for Identifying Development Needs

• Review applicable job descriptions and/or career path documents. Compare the current behavioral and technical competencies of the employee to the competencies required for continued success in the future.

• Talk with your employee about career aspirations. Use this information to determine development needs. Capture this information in development plans.

• Solicit and review feedback from key stakeholders. Consideration can also be given to feedback received in performance reviews or 360 assessments.

• Review progress on past and current development plans. Is additional development necessary to achieve learning goals?

• Understand if there are training requirements set by law, regulation or policy. (If in doubt check with Human Resources)

How will you know if the employee's development actions or plan is a success? Now is the time to think about how you and the employee will define and measure success. For example, success may be defined as learning a new skill, a promotion, expanded job responsibilities or a technical skill mastered. Discussing how success will be measured at this early stage, creates clear expectations and ensures thoughts are aligned.

Step 5: Selecting the mix of development activities
Step 6: Evaluate the effectiveness of the development method
Real-life and on-the-job experiences: Experiential learning reinforces results of formal learning and is easily transferable to the job.

Examples include:
Expanding role
Stretch assignments
Special projects
Increased visibility

Learning also occurs from receiving feedback and collaborating with others.

Examples include:
Daily interactions and meetings with managers and peers
Performance reviews

Many of us frequently associate development with formal training.
Examples include:
Books or internet informational resources
Professional certifications

Development is often thought of as attending a training class or pursuing a certification. The pyramid to the right is a visual representation of how most development plans are written.

The focus can become: What class should I take this year?
In reality, most learning occurs on the job. As mentioned earlier, skills gained through meaningful job experiences can be the most effective method of knowledge transfer.

Ask yourself:
Is there a stretch assignment or project that I can provide the employee to help realize learning goals?
How can I create opportunities to increase the employee's visibility?
Is this employee ready to take on additional responsibilities?

Feedback and training are still important development methods to consider.
The vision of Aegon Asset Management is to be a primary value driver for our clients and shareholder with relevant solutions and excellent performance in line with their expectations. This vision is likely to lead to the development of more complex products and fund structures which in turn will require our employees to have the behavioral competencies, skills and knowledge to support the increased complexity of these end to end processes.
During the needs analysis phase, criteria for measuring the success of development goals is defined.

After development actions have occurred, you and the employee should revisit this criteria and determine if the development action was successful.

Understanding return on investment will help refine future employee development plans.
Consult your HR Business Partner
Access additional employee development information at:
In the NL http://intranet.ds.global/netherlands/support-afdelingen/hr/Pages/default.aspx
In the US http://aam/collab/HR/default.aspx

Need ideas for employee development activities or have questions?
The most effective development and delivery method will vary by situation, but the following are some key considerations
Effectiveness of knowledge transfer: Job experiences are generally the most effective method of transferring knowledge learned to the job.

Cost: Job experiences, virtual learning, and books are generally the most cost effective methods.

Location: Virtual learning can be used with cross locational teams and is available in remote locations.

Time commitment: Certain development activities, such as achieving a professional certification, can require a significant time commitment.

Availability: Instructor led classes may only be offered at select times.

Learning style preference: Understand how your employees learn best. If in doubt, ask.

Performance of employee: Development activities are most successful when the employee is fully committed to learning and growth.

Reputation of consulting company: Check references or ask Human Resources if they have knowledge of the firm or recommendations.

Industry standard: A specific development method may be required for gaining technical skills.
Employee Development
To achieve our vision for Aegon Asset Management and in alignment with the Aegon Strategy Story, we are committed to supporting the development of our people to reach their full potential. We recognize that investing in the development of our people is for the mutual benefit of the individual and the business.

To access the AEGON Strategy Story- click on this link
MAKE AN IMPACT: As a manager it's important to create on-the-job experiences for employees. This is the most effective method of knowledge transfer and can be leveraged to prepare employees for future roles, strengthen skills in current role, apply the skills learned through formal training, or as a means to address feedback received throughout the year.
Choosing the Delivery Method
Let's take a closer look at how we can apply this information when providing guidance to employees in creating development plans....
Employee Learning Goal:
Develop leadership ability
Employee Action Plan:
Attend a Leadership Development Program hosted by the local college

Employee Details:
• Employee is a seasoned manager
• Employee attended a Leadership Development Program hosted by the local college last year
• Employee is a strong performer with high potential
• Employee’s next role in the job family includes a significantly broader scope of responsibilities
MAKE AN IMPACT: Assigning a mentor can lesson the learning curve for employees new to their role. Also, the information received through feedback can help pinpoint specific strengths or shortcomings to further address in development plans.
MAKE AN IMPACT: Consider including formal training classes in employee development plans to support certification requirements, professional designations, as required by regulations, or to research best practices.
Make an Impact:

Before the employee registers for the leadership development program again, consider the return on investment. Did this program meet the defined criteria for success last year? Also consider providing additional authority, responsibility, and visibility with key stakeholders to help the employee prepare for their next role. Assign special projects targeted to the employee’s leadership developmental need.
Employee Learning Goal
: Obtain CFA designation
Employee Action Plan
: Register for CFA study program and take CFA level I exam this year.
Employee Details:
• Employee’s role is Fixed Income Research Analyst
• Employee is a strong performer
• CFA is relevant to Employee’s job responsibilities

Make an Impact: In addition to attending the CFA prep course, think about other development actions that will support the application of the concepts taught. Consider asking the employee to present a relevant topic at a team meeting or assigning a research project to assist in knowledge transfer.
Employee Learning Goal:
Increase knowledge of the business
Employee Action Plan:
Attend new employee orientation and sign up for the life insurance, annuities, and pension solutions, eLearning courses on the local Training intranet site.

Employee Details:
• Employee is new to the role
• Employee is new to the organization
• Employee’s role is providing back office support

Make an Impact: Since the employee is new to the role and organization, they may need more guidance in creating and implementing an action plan. Decrease the employee’s learning curve by partnering the employee with a subject matter expert in the area they are interested in learning or asking for a tutorial from someone in the business. Also, encourage the employee to join and participate in a local industry chapters.
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