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Human Capital Growth Webinar: 2018 HCG talent development benchmark study

​Learn the results of our ​2018 HCG Talent Development Benchmark Survey.

http://www.humancapitalgrowth.com/2018-hcg-talent-development-benchmark-survey-results.html

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Human Capital Growth Webinar: 2018 HCG talent development benchmark study

  1. 1. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 2018 HCG Talent Development Benchmark Study Part I May 2018
  2. 2. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 2 Authors Shreya Sarkar-Barney, Ph.D. CEO & Founder Human Capital Growth Alyssa Perez Consultant Human Capital Growth Izabela Widlak, M.S. Sr. Research Consultant Human Capital Growth
  3. 3. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 3 Leadership Excellence Talent Management Excellence US India We help organizations achieve better outcomes through talent using science, analytics, and empathy. Drive business impact through timely talent actions Evidence-based solutions for measurable and sustained improvements in leadership
  4. 4. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Agenda  Study context  Study participants  Results of the L&D Benchmark study  Q&A 4
  5. 5. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 2018 HCG Talent Development Benchmark Study Part II Mark your calendars! Next Webinar Wednesday, June 6th 2018, 8am-9am PT 5
  6. 6. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Human Capital Dashboard C-Suite Perspectives 85.2 million skilled worker shortage by 20301 1https://www.kornferry.com/institute/talent-crunch-future-of-work?reports-and-insights 3 https://www.ddiworld.com/DDI/media/trend-research/glf2018/global-leadership-forecast-2018_ddi_tr.pdf?ext=.pdf 4Economist Intelligence Unit/CMA Report (2012): Talent pipeline draining growth 60% Failure to attract/retain top talent3 43% Inadequate human capital reason for not achieving financial targets4 40% Inadequate human capital reducing company’s ability to innovate4 6
  7. 7. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Return on Human Capital Investment? 7 Increase in annual HR budgets1 4% - 8% 2007-2017 HR performance scorecard2 D – C+ 1Bloomberg BNA (2016), 2Deloitte (2017), 3 Statista Annual estimated training budgets in 20173 $93 Billion (US) $180 Billion (Global)
  8. 8. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study The Opportunity! 8 24% Firms that make the right human capital investments stand to gain up to a 24% lift in their operational and financial performance
  9. 9. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Talent Development Excellence Learning and Development Career Development Leadership Development Current role Future role Broader role Survey Goals • Understand current practices in talent development • Assess use of science-backed practices • Degree of integration across talent development practices 9
  10. 10. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Highlights 10 Employee Manager L&D Function • Plenty of access to training • Organizational support for closing skills gaps • Limited opportunities to develop deep skills for the future • Yet to benefit from training that is personalized and impactful in preparing for a future role • Although managers play an important role in driving training impact, about half of them are uninvolved. • Managers not skilled in identifying skills gaps • Positive culture of learning evolving in organizations • Training satisfaction continues to be the most popular learning effectiveness measure, despite its limited informational value • Innovation is the least expected outcome of training • Training analytics yet to mature Consistent with our mission, this research was designed to assess success of current talent development efforts and contrast with science-based practices.
  11. 11. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Benchmark Study Participants Learning and Development N=26 (70%) Career Development N=15 (41%) Leadership Development N=21 (41%) All three areas N=9 (24%) 50Organizations from across the global 37usable records *Minimum 5 responses for inclusion in analyses 11
  12. 12. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Industry Segments 3% 3% 5% 3% 8% 5% 5% 11% 30% 3% 8% 5% 11% Aerospace & Defense Manufacturing Education Government Insurance Manufacturing Agriculture Pharmaceuticals Technology Automotive Other Banking Business Services 12
  13. 13. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Entity Type 3% 8% 51% 38% Government Nonprofit Publicly traded Private 3% 5% 40%46% 3% 3% Early stage start-up Funded late stage start-up Growth Mature Plateauing Renewal Organizational Lifecycle 13
  14. 14. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Size of the Workforce 24% 16% 8% 6% 5% 11% 30% 1 - 999 1,000 - 4,999 5,000 - 9,999 10,000 - 19,999 20,000 - 49,999 50,000 - 99,999 More than 100,000 14
  15. 15. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Role in the HR Function 2% 11% 3% 3% 8% 11% 30% 11% 5% 16% Analyst Business Partner CHRO CLO Consultant Director Manager Specialist Vice president Other 15
  16. 16. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Learning and Development Benchmark Results 16
  17. 17. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Definition of Learning 17 A relatively permanent change in behavior as a result of experience and practice
  18. 18. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Learning Excellence Learning Effectiveness Learner Characteristics Learning Design Learner’s Work Environment Needs Analysis Continuous Improvement Learning Outcomes Skill Gain Engagement Safety Quality Productivity Strategy Culture Budget Resources Technology BEFORE AFTERDURING 18
  19. 19. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 78 67 61 56 56 50 50 Our L&D efforts have consistently resulted in closing the skills gaps of our employees Our L&D efforts are shaping the culture of our organization Our L&D efforts are helping build a strong employer brand Our L&D function has a reputation of growing talent internally Our L&D team has an effective approach to distilling the knowledge and skill requirements from our business strategy Our company has a culture of problem-solving through continuous learning Our L&D team is highly effective in developing new skills in a timely manner Results indicate proportion of respondents who “strongly agreed” or “agreed” to the statements. L&D Effectiveness Learning Effectiveness 19
  20. 20. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 78 67 56 56 22 22 Skill development is tied to a business activity and a timeline to ensure it is prioritized An off-the-shelf training solution is purchased and delivered The skill need is noted in the employees’ learning plans, and a target completion date is assigned Resources are reallocated to accelerate the critical skill development for the target employee segment Business leaders actively sponsor critical skill development initiatives An expert is recruited to grow the critical skills in- house Approaches to Handling Requests for Critical Skill Development Needs Analysis 20 Conducting a needs assessment 4%-9% lift in learning effectiveness
  21. 21. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 14% Cognitive Ability 13% Work Environment Learner Characteristics [VALUE]% 18% [VALUE]% [VALUE]% Employees' belief that they can apply the learned material on the job Employees' motivation and willingness to learn the new skills Employees' ability to learn Employees' personality characteristics such as conscientiousness, learning orientation, etc. Learner Characteristics Measured During Learning Activities  5%  8%  8%  8% Learner Characteristics 21
  22. 22. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Where do you look for inspiration (the most) when designing talent development programs? 11% 11% 30% 33% 15% Ask friends and colleagues inside and outside the organization Look for recommendations from business leaders in the organization Practices adopted by leading organizations Read scientific publications for research findings on what works The Harvard Business Review or similar publications
  23. 23. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Critical Training – Learning Design 82 73 55 46 46 46 36 18 There are multiple opportunities to practice the new skill The learning content is divided into modules or subsections Employees receive feedback on their training performance Employees take a knowledge test before and after learning Employees take a knowledge test after learning Employees complete an assignment after learning Employees set skill application goals before the training ends The assessment results are used to channel the right level of learning content Learning Design 23
  24. 24. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 91 91 91 82 73 46 46 36 27 Funding to attend external training Request internally-sourced training On-the-job training Mentoring Funding to attend conferences Tuition assistance Cross-training Shadowing Apprenticeship Learning and development options available to employees at all levels Learning Design 24
  25. 25. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Open and closed skills Blume, B. D., Ford, J. K., Baldwin, T. T., & Huang, J. L. (2010). Transfer of training: A meta-analytic review. Journal of management, 36(4), 1065-1105. 25 Closed Skills Open Skills  Skills learned in a training environment can be reproduced identically in the work setting  Easier to find opportunities to apply the skills  Rapid feedback and reinforcement Examples: Programming Data analyses  Skills are highly variable, there is not single correct way to act  Requires higher-level of cognitive components  More prone to skill decay  Requires greater support for transfer Examples: Leadership Negotiation
  26. 26. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 58 50 8 For critical skills, the physical setting of the training is similar to the real work setting Most learning offerings are designed to provide a realistic psychological experience through role plays and simulations For high risks skills, augmented reality is used to provide a realistic experience in a safe environment Learning Design Use of design elements in L&D offerings 26
  27. 27. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study MANAGER AND LEADERSHIP TRAINING Leadership Development People manager development (beginner & advanced) Supervisory Training New Manager Training New hire onboarding Graduate/Entry Level Training Recruiting skills Mentoring Feedback Emotional Intelligence Virtual Teams Digital Skills Managing Complexity Risk mitigation Innovation DATA AND ANALYTICS Metrics Analytics Machine Learning Data privacy and security SOFTWARE AND ENGINEERING SKILLS Engineering Skills Full Stack Developer Program Agile Architecture PRODUCT/INDUSTRY SKILLS Maintenance Training Program Operator Training Program External Certifications Product Training Tools Training Industry Domain FUNCTIONAL SKILLS Sales & service Project and Program Management Quality management Safety Training Compliance Training ALL EMPLOYEE TRAINING Online learning libraries for all employees Mandatory Training On the job training (OJT) Training programs most critical for business success Learning Design 27
  28. 28. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Talent vs. Human Capital Development Talent Development • Developing individuals’ capabilities • Develop job relevant skills • Closing skill gaps Human Capital Development • Building the collective capacity of a team • Develop critical capabilities needed to win in the marketplace • Addressing unique needs of the organization 28 For more information check out our Webinar on ‘Designing Learning Strategy to Deliver Competitive Advantage’
  29. 29. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Initiatives to Develop Human Capital 35 35 31 We have several training options to develop the collective capacity of teams Teams engage in cross training to improve team performance We use team training to develop shared mental mental models around a critical business process Learning Design 29
  30. 30. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 56% 11% 22% 11% There are no mandated training hours Greater than 50 hours 31-40 hours 21-30 hours Mandated Training Hours Learning Design 30
  31. 31. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Learner’s Work Environment – Embedding a Learning Culture Learner’s Work Environment 31 Climate for learning refers to organizational cues that signal that learning is valued, recognized, and rewarded. E.g. manager goals, peer support, equipment availability, and opportunity to practice trained Skills. Explains 7% of the variance in training effectiveness 78 67 65 65 56 56 42 Application of new skills on the job are recognized and rewarded Employees set learning goals before starting their learning Employees are encouraged to take charge of their own learning Funding is made available to support all employees' learning and development needs Employees have projects where they can utilize actively practice their new skills Employees are held accountable to find opportunities to apply their new skills When screening job candidates, they are assessed for their ability to learn
  32. 32. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Managerial Support for Training 56 50 44 44 44 42 Managers encourage the use of their employees' newly learned skills Managers have a good understanding of the strengths each employee brings to their role. Managers and employees share the learning goals Managers discuss the relevance of their new skills with the employees Employees set application goals with their managers to utilize their new skills Managers have a good understanding of the gaps and development needs of each employee, relative to the requirements of their role. 58% of managers are not equipped to assess gaps and development needs of each employee Learner’s Work Environment 32
  33. 33. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study At your organization, what is the expected outcome of a high-profile talent development program? 15% 4% 4% 22% 56% It will address 100% of the critical talent need It will address 25% of the critical talent need It will address 50% of the critical talent need It will address 75% of the critical talent need There is no stated expectation of a return
  34. 34. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Metrics to Measure L&D Effectiveness (Organizational) 55 55 50 40 40 35 35 20 20 10 Productivity Employee engagement Quality Speed of work outputs Internal promotions Retention Sales Margins Errors in work outputs Innovation Continuous Improvement 34
  35. 35. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study L&D Effectiveness Measures (Learner) 80% 70% 70% 60% 50% 50% 40% 35% 5% Learners' ratings of satisfaction with instructor Number of training hours completed each year Learners' ratings of satisfaction with training Knowledge gain as measured by a test Learners' ratings of utility of training Job Impact as measured by learner and manager surveys Changes in business outcomes as a result of the training Skill gain as measured by simulations Return on investment 1% 1% 21% 6% 11% Continuous Improvement 35 >7% Key Questions Was the training effective? How can the training be modified to advance learning outcomes?
  36. 36. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study When your team becomes aware of highly effective talent development practices, how easy or difficult is it to influence your leadership to adopt the practice? 11% 41% 11% 37% Almost impossible Challenging Extremely easy Somewhat easy
  37. 37. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study When influencing your leaders to replace existing practices with more efficacious practices which of the following is most effective. 33% 15% 15% 37% Designing an experiment to establish the efficacy before rolling it our more widely Sharing testimonials from industry leaders who support the practice Showing the findings from scientific research Showing which other reputable organizations are using the practice
  38. 38. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study 38 What’s missing, as a majority of North American CEOs indicated in a recent poll, is the ability to embed data analytics into day-to-day HR processes consistently and to use their predictive power to drive better decision making. A CEOs Guide to Competing Through HR
  39. 39. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Key Take Aways • Opportunity to shift mindset of training as a cost to training as a strategic value driver • Suboptimal choices are driving down impact, resulting in perennial challenges • Devil is in the details, no silver bullet • Where you invest matters • Training can drive sustained improvements in human capital • Use scientific evidence and analytics 39
  40. 40. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study If you found value in this webinar, you may also be interested in our webinar on learning strategies and our curriculum on talent development. 40 Checkout these resources Designing a Learning Strategy to Deliver Competitive Advantage WEBINAR Grow your expertise in evidence-based talent development LEARNING + CERTIFICATION
  41. 41. CopyrightHumanCapitalGrowth.AllRightsReserved. 2018 HCG Talent Development Benchmark Study Thank you! Brought to you by

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