Verax International Ltd

NEWSLETTER - APRIL 2015 "Successful, Profitable Talent Development" Putting certainty into talent development. • Minimising risk • Saving money and delivering a financial ROI on talent development • Aligned with the organisation’s business performance objectives Developing talent that can see your organisation through the challenges of the future is a priority issue for HR professionals. Talent development is an expensive investment. Now you will be able to show the value and return on that investment. You will be able to demonstrate that learning and development activities make a difference to the business, and prove it. Too often in the past, development has largely been seen as for the benefit of the individual. Relatively uncoordinated evaluation methods have meant that the value is guessed at or assumed and contribution to the business is unknown – but this is about to change. Recent academic research suggests that less than 30% of what is learned is transferred into the workplace in the short term and less than half that is still being applied after a year. This is very different from the HR Professionals’ “guesstimates” that over 50% is transferred and sustained. No one knows whether what is transferred is beneficial or what it is worth. Also because of the individual focus of learning & development until now, it has been difficult to show organisational benefits. If we assume that staff are recruited and employed to make a contribution to the business results, we can assume that learning and development enables them to make an even greater contribution to business results. Verax’s robust research in the early years of this century has demonstrated conclusively the impact on business results and outcomes of the organisational culture, the behaviour, skills, attitudes and abilities of individuals at different levels in the organisation. Directly linking talent development to future business results and proving it, has been the holy grail of HR for decades. Our methodology scientifically makes those links and calculates the value of people development. Directly linking talent development to future business results and proving it, has been the holy grail of HR for decades. Our methodology scientifically makes those links and calculates the financial value and ROI. • One client increased the value of the contribution made to the business by middle managers by over £1.5M • A County Council proved that their leadership programme produced a return on their investment that was greater than some of their capital projects. • Another client proved that a leadership programme delivered by one provider produced a financial return on investment 10 times greater than another provider. How Do We Do It? Organisations are set up to deliver certain results and outcomes. Staff are recruited to contribute to those outcomes. There is a direct relationship between how things are done in the organisation (culture), what individuals do, and the outcomes achieved.

 

This is vitally important. As Peter Drucker said “Culture can eat strategy for breakfast”.

 

We start by getting a very clear picture of precisely what your organisation needs to achieve for each key stakeholder (we call this the Strategic Profile).

 

We scientifically calculate the way things need to be done including structure, systems and processes: the way in which employees need to behave, from leadership competencies to skills, reasoning ability, emotional intelligence levels etc. we examine the fit between the individual’s style and the needed culture.

 

We analyse and recommend how they can be more effective and how they need to achieve results and contribute to your Strategic Objectives – This also produces the profile of the most suitable candidates for selection purposes.

 

 

^Top

Copyright © 2015 Verax International Ltd. All Rights Reserved. Verax International Ltd - Tel: 01252 761300, or contact us via email: info@verax.co.uk