Focus Magazine - Winter 2017 - 44

LEADERSHIP/MANAGEMENTDEVELOPMENT

Do It Yourself In-House
Talent Development
■ By Steven Rauschkolb

A good place to
start is by
benchmarking
similar programs
through your LTEN
network.

44

A

recent year-long study by McKinsey &
Co. involving 77 companies and nearly
6,000 senior executives indicated that
the most important resource needed to achieve
and sustain corporate success over the next 20
years will be talent. e dilemma facing most
companies is that as the demand for talent goes
up, the supply of it will be going down due to
the last of the baby boomers retiring, among
other factors.
Not all life sciences companies have financial
and other resources to hire external experts to
create and execute a talent development
program. Because identifying and developing
top talent is so important to the future of your
organization, you might consider developing
your own program in-house. It's a great way to
broaden the scope of your department, while
proactively solving a critical issue for your
organization.

Before you start, there are several important
stakeholders that you should engage:
* Start by finding a senior-level executive
sponsor, high enough in the organization to
help you sell the idea.
* Next, be sure to engage your Human
Resources head to ensure that a similar
program or initiative does not already exist.
* Once you get the go-ahead to start the
planning process, develop a preliminary
proposal that carefully lays out the
objectives, scope and any potential costs for
the program. Run your proposal by your key
stakeholders and adjust as needed to ensure
that you are covering all of your bases and
that you have full alignment and budgeting
approved before you begin development.
As you begin to create the program, a good
place to start is by benchmarking similar
programs through your LTEN network and via
the Internet. Pay careful attention to the
duration, development modalities and final
assessment outputs of other programs.
Consider who else should be involved to help
facilitate the program and act as assessors.
Typically, this should be a team of people made
up from mid- to senior-level directors and vice
presidents from a cross section on functions
(Sales, Human Resources, Learning &
Development, etc.).
Consider breaking the development into
multiple parts, such as a kick off webinar, a live
training session to provide leadership and
business acumen training, monthly self-study
assignments tied to your leadership or
functional competencies followed by webinars
to discuss learning and application and
potentially an in-house assessment center,
where all of the learning comes together.
Regardless of the modalities you choose,
remember the 70-20-10 rule to ensure the most

FOCUS | Winter 2017 | www.L-TEN.org


http://www.L-TEN.org

Table of Contents for the Digital Edition of Focus Magazine - Winter 2017

LTEN Focus on Training Magazine
From the President: Preparing for Change
Table of Contents
Table of Contents
Guest Editor: Facilitative Training & Mutual Learning Models
Directions: A Time to Reflect and Plan
Front of the Room: Help! I've Got a Big Audience!
Building Account Management Capabilities
6th Annual Medical Device & Diagnostics Trainers Summit
Training Your Sales Team for Today's Changing Customers
Training Reinforcement 101
Sales Simulation Programs that Drive Performance
5 Persuasive Communication Lessons
Do It Yourself In-House Talent Development
Leveraging Simulation-Based Technology in Training
3 Essential Pillars for Competitive Selling
Virtual How: Learning Innovation & Best Practices
Ad Index
Focus Contacts
Meet Your Incoming LTEN Board President
Focus Magazine - Winter 2017 - Intro
Focus Magazine - Winter 2017 - LTEN Focus on Training Magazine
Focus Magazine - Winter 2017 - Cover2
Focus Magazine - Winter 2017 - 3
Focus Magazine - Winter 2017 - 4
Focus Magazine - Winter 2017 - From the President: Preparing for Change
Focus Magazine - Winter 2017 - 6
Focus Magazine - Winter 2017 - Table of Contents
Focus Magazine - Winter 2017 - 8
Focus Magazine - Winter 2017 - Table of Contents
Focus Magazine - Winter 2017 - 10
Focus Magazine - Winter 2017 - Guest Editor: Facilitative Training & Mutual Learning Models
Focus Magazine - Winter 2017 - 12
Focus Magazine - Winter 2017 - Directions: A Time to Reflect and Plan
Focus Magazine - Winter 2017 - 14
Focus Magazine - Winter 2017 - Front of the Room: Help! I've Got a Big Audience!
Focus Magazine - Winter 2017 - 16
Focus Magazine - Winter 2017 - Building Account Management Capabilities
Focus Magazine - Winter 2017 - 18
Focus Magazine - Winter 2017 - 19
Focus Magazine - Winter 2017 - 20
Focus Magazine - Winter 2017 - 21
Focus Magazine - Winter 2017 - 6th Annual Medical Device & Diagnostics Trainers Summit
Focus Magazine - Winter 2017 - 23
Focus Magazine - Winter 2017 - Training Your Sales Team for Today's Changing Customers
Focus Magazine - Winter 2017 - 25
Focus Magazine - Winter 2017 - 26
Focus Magazine - Winter 2017 - 27
Focus Magazine - Winter 2017 - Training Reinforcement 101
Focus Magazine - Winter 2017 - 29
Focus Magazine - Winter 2017 - 30
Focus Magazine - Winter 2017 - 31
Focus Magazine - Winter 2017 - 32
Focus Magazine - Winter 2017 - 33
Focus Magazine - Winter 2017 - Sales Simulation Programs that Drive Performance
Focus Magazine - Winter 2017 - 35
Focus Magazine - Winter 2017 - 36
Focus Magazine - Winter 2017 - 37
Focus Magazine - Winter 2017 - 38
Focus Magazine - Winter 2017 - 39
Focus Magazine - Winter 2017 - 5 Persuasive Communication Lessons
Focus Magazine - Winter 2017 - 41
Focus Magazine - Winter 2017 - 42
Focus Magazine - Winter 2017 - 43
Focus Magazine - Winter 2017 - Do It Yourself In-House Talent Development
Focus Magazine - Winter 2017 - 45
Focus Magazine - Winter 2017 - 46
Focus Magazine - Winter 2017 - 47
Focus Magazine - Winter 2017 - Leveraging Simulation-Based Technology in Training
Focus Magazine - Winter 2017 - 49
Focus Magazine - Winter 2017 - 50
Focus Magazine - Winter 2017 - 51
Focus Magazine - Winter 2017 - 3 Essential Pillars for Competitive Selling
Focus Magazine - Winter 2017 - 53
Focus Magazine - Winter 2017 - 54
Focus Magazine - Winter 2017 - 55
Focus Magazine - Winter 2017 - 56
Focus Magazine - Winter 2017 - Virtual How: Learning Innovation & Best Practices
Focus Magazine - Winter 2017 - 58
Focus Magazine - Winter 2017 - 59
Focus Magazine - Winter 2017 - Ad Index
Focus Magazine - Winter 2017 - Focus Contacts
Focus Magazine - Winter 2017 - Meet Your Incoming LTEN Board President
Focus Magazine - Winter 2017 - Cover3
Focus Magazine - Winter 2017 - Cover4
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