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Talent Development


24 Minute CIO

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Unit Video

Unit Summary

Three ways for better talent development:
  • Developing yourself
  • Developing Others
  • 70/20/10 Rule

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Hi, in this video we will talk about talent development or in other words people development. What I want you to start thinking about as I start talking to you, is that when I say people development, that includes myself. So it’s me, my team, whether it’s one person or two people or more. So even if I have just one person working with me, this is still a team, together we are a team. And it’s really like key competency or key capability of any business is to continue developing because if we stopped developing, we will die because the world is moving so fast and the changes are coming right left and centered. If we don’t continue keeping up with those changes and the newest learning and how we do this and the most innovative and so on. We are going to get out of business very soon.
So continuous development or talent development is a key capability for you and your business to keep on growing and succeeding. Therefore, how to actually do it?
Developing myself and developing others: obviously you need to develop yourself before developing others because we can’t practice something, preach something that we are not personally are practicing. So if I go and tell my member, you need to go and attend this training, read this book because you don’t understand much about this and you know do this. I myself do nothing about it, I myself haven’t been really working on myself. This doesn’t set a good example and it’s not really the kind of collaboration we are talking about.
Now I am going to talk about the how? This is what we need to do, now I need to give you more information and some more knowledge about how you can actually go and do it.
You actually develop people. And because of this I want to introduce to you this model and it’s called the 70, 20, 10 rule and it is a rule that has been developed by creative center for leadership and it’s basically to teach us people and organizations how to best develop our people. And the 70 % or let’s start with the 10% which actually talks to the training program, is actually the % you can spend on developing people. Only 10 % goes to training, it’s very different from how many organizations do it.
Not just that but then you also have 20 % which goes to actual coaching and feedback, ongoing coaching and feedback that you do to your team members, do it for yourself or seek for yourself for your team members or from others that you’re working with including the client. So this is the 20 % of the development time you spend on coaching and mentoring. And last one which is the bigger chunk is the 70% and those 70 % is the 70% of the time is spend on different developmental activities like on job training so actually taking on a challenging project and learn by doing it, going and experiencing someone who is doing a similar project that you would like to go and learn about.
Checking out the internet, google, the YouTube, learning how different things are done, it is all on the job as you are going. You are not sitting in a training room, you are actually as you are working you are learning about different things, maybe attending a meeting, so bringing your team member to attend a business developing meeting with you so they understand how actually things happen behind or outside the office. So these are the kind of things that you can do in addition to the 10% which goes to the actual classroom training.
So, in essence to summarize what I just said about talent development, it’s about developing self and about developing others and it is about doing it through a 70,20,10 rule. So it is not just spending huge budgets for training and sending people to courses but it also ongoing interactions with your team member or members and on doing a lot of projects that it actually build the skills in your business.

You know, as most entrepreneurs do, that a company is only as good as its people. The hard part is actually building the team that will embody your company’s culture and propel you forward. Kathryn Minshew