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Early Talent Development Whitepaper by Kwantum Leap
1.
2016 Early Talent Development
Report Whitepaper Brief
2.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 2 Why we did it Driven by the beliefs that (1) there is so much we fail to understand about such programmes, (2) there is very little meaningful research into programmes and (3) data analytics has so much to offer in this field, we set out to uncover as many truths as possible. The first and largest of these truths being that, with this work, we have only just scratched the surface. What we did and who we did it for The 2016 Early Talent Development Report is the culmination of almost a yearâs worth of research and analysis, determined to provide Graduate Employers, HR Professionals and Managers with facts and insights that can be used and applied in a practical way. Armed with a slew of questions and using a bottom-up approach that kept our data raw, honest and unbiased, we were able to amass tens of thousands of unique data points, which were then meticulously analysed. 200+ question 250+ sources 50,000+ data points 2016 Early Talent Development Report Management Associate, Management Trainee, Future Leaders ProgrammeâŠdo a quick online search and you will see how popular these buzzwords are. These structured development programmes for fresh graduates (both undergraduates & post-graduates) not only enhance the initial induction and training, but also include subsequent development of the candidates, including on-the-job training, mentorship and networking opportunities, with a promise of fast-tracking up the career ladder. But how effective are these early talent development programmes? Are they worth the increasingly high operational costs? And how can one articulate and measure the Return on Investment (ROI) of such a programme? In this whitepaper, we summarise key highlights of our year-long research that will answer these questions. By taking a bottom-up, data-driven approach, our research will suggest ways to measure programme ROI, and tell you what key elements are required in a successful programme. We will also give you actionable insights to help you, whether youâre thinking of modifying an existing programme or designing a new one from scratch.
3.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 3 Start with Your Key Success Indicators Our most important finding is that being absolutely clear on the main purpose of your programme is the key to success. There is no âone size fits allâ programme, or a âkillerâ programme that can achieve all objectives. This target objective must be decided within the context of your organisation together with critical stakeholders, ensuring it aligns to your business strategy and workforce requirements. Once the objective is well defined, the proper programme elements can be selected and customised to ensure the overall effectiveness and success of your investment. From our report, you will see that some objectives may require huge investment in a specific element, while for a different objective, the opposite is needed. Our data will also show you that having âthe bestâ of something (e.g. great managers) may not always be required to achieve the desired results. Not Everything Included in a Programme Contributes Towards Success Determining what has an impact and what that impact means is a complex task. However, the benefits are clear in that optimising a programme will maximise its impact whilst minimising costs and doubts amongst senior stakeholders. On the following pages and throughout this whitepaper, you will be presented with findings that will help you focus on the things that matter. Key Success Indicators By starting with the end in mind, not only is a clear sense of purpose and direction gained, but the way is paved for measuring success, and ultimately, your ROI. Weâve identified 7 Key Success Indicators of which we detail 6. As there is already a wealth of information on the 7th (âattractionâ), we have consciously chosen to avoid it. The Key Success Indicator(s) you select will depend wholly on what you want to achieve from the programme. Programme Satisfaction Learning & Personal Development Productivity Career Progress Individual Impact Retention Attraction
4.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 4 Focus on the Things that Matter With over 50 findings presented in detail within the full report, there are plenty of facts to be considered and a multitude of changes that one can make to a programme depending on your Key Success Indicators. Throughout our research however, it was clear that certain elements have much larger reach and can impact a Key Success Indicator in different ways. Full details can be found in our main report but highlighted below are the three most influential items: 1. Managers are the one element that can influence each and every Key Success Indicator. A Managerâs influence is felt whether your aim is to create a great programme experience or to fast-track candidates. For example, as one would expect, one of the critical roles played by a Manager is that of teacher. Managers who are willing and able to teach can enhance learning by 28%. The impact of teaching is even more pronounced when there is no programme as the Manager will not only enhance learning, but directly impact productivity, programme satisfaction and career progress. 28% 2. On-the-job training remains an important part of programmes. Whilst workshops and e-learning are a minimum requirement of any programme, it is the impact of on-the-job training that really stands out. It has an impact on individual learning, and career progress. Good on-the-job training relates closely to a candidateâs actual career progress. In fact, candidates that reported a good on-the-job experience were 92% more likely to be promoted. 92%
5.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 5 Geographical rotations failed to influence any Key Success Indicator positively. In fact, the only time it was considered favourable was when it was combined with a functional rotation. Both e-learning and professional qualifications correlate negatively to career progress. In other words, the more you do, the less or slower you progress. Having no programme is not always a bad thing although the needs of your early talent will differ quite substantially. For example, more emphasis is placed on Managers and their level of experience. There were Some Surprises 3. The end of the programme counts for a lot. The programme-end experience can improve a candidateâs reported satisfaction with a programme by over 15%. This is unsurprising since an individualâs experience is heavily influenced by events that happen towards the end of a programme. There are a number of activities that can form part of the final transition off the programme. For example, meeting the manager of the team you will finally join can improve an experience; however, only 20% of programmes make it a core part of a programme.
6.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 6 Highlights of Major Findings Finding #1 The length and structure of programmes vary tremendously across industries and companies. The Oil & Gas and FMCG industries not only consistently offer the longest programmes (24 to 36 months and more), but also manage to retain employees the longest - quite commonly up to 3 years after a programme has ended. By comparison, Financial Services, Banking, Healthcare and Pharmaceuticals, will tend to offer 12 to 24 month programmes, and are reported to keep employees for only half as long (18 months) after. $ Findings can be classified into three categories. ⹠Descriptive findings attempt to explain the actual practices and shed light on the underlying nature of programmes and their individual elements. ⹠Quick Wins are findings that can be applied immediately to rectify situations within an organisation. ⹠Deep Impact insights require more thought and investigation before a solution can be applied. The following findings have been selected to demonstrate the range of information you can expect in the full report. The most common length for a programme was 13 to 24 months. The data below displays that almost 90% of organisations that invest in early talent development programmes opt for longer rather than shorter programmes. The percentage of reported programmes by length 20% 10% 30% 40% 50% 0% Programmes under a month long 1-6 month programme 7-12 month programme 13-24 month programme Programme longer than 24 months 7 5 24 48 16 Quick Win Deep Impact
7.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 7 Finding #15 As with culture, inductions and orientations are critical in stating and discussing expected performance. Overall, 24% of all respondents felt that, in spite of whether they were considered high potential employees or not, they were not clear on what performance standards were. Thought. Are you discussing expectations with new joiners as early as possible? Do your messages align with those being shared on campus? Do they know what standards they are expected to meet and maintain? are clear they are high-potential talent. After induction 70.3% Only know what this means though and what is required or expected. 76.8% Quick Win
8.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 8 Finding #24 On-the-job training does not necessarily enhance learning and can actually have a negative impact. Only well-executed on-the-job training helps. Poorly executed training can account for as much as a 41% decline in learning over those who donât receive anything structured. Of the top 5 hurdles faced by candidates (see below), two have practical tactical solutions (instructions/objectives and documentation); the other three represent cultural issues either at the organisation or within the team. In addition to the statistical data, anecdotal feedback revealed some of the root causes underlying poor on-the-job experiences. â[There was] a bias against people on the programmeâ â6-month rotations too short. So often not taken seriously as a resource. Not trained properlyâŠâ âTeamâs lack of experience in training graduatesâ Thought. If there are clear cultural issues within a team, do you want a fresh candidate to be exposed to this kind of environment? And, if this team requested for one of these candidates, are they deserving of one? 35% Other 9% Constantly changing environment 16% Team not available/Everyone busy 15% Unclear instructions/objectives 13% Afraid of failing/making mistakes 12% Poor documentation Unsolicited Responses Top 5 hurdles faced by candidates Deep Impact
9.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 9 Increasingly, organisations are challenged to do more with less, to be more commercially minded about how they run their programmes. Their budgets are cut and resources are constrained. It is unrealistic to believe that a programme can meet every Key Success Indicator. As a programme manager or designer, deciding which of these to aim for might be the biggest determinant of success in the end so they need to choose wisely. These insights can go a long way to helping Graduate Employers critically evaluate their programmes. However, the first step is to determine the Key Success Indicator(s) specific to an individual programme. Account for the needs of an organisation, of the departments, the Managers and so on. Once that is complete, select items that will add the most value. Invest the time, effort and money in these, ensuring your programmes are optimised and maximised for impact. Take brave, considered and concrete steps towards optimising your programme. Define Success Start with the end in mind; an end that everyone can buy into. Define the Key Success Indicators for each programme, together with your key stakeholders. Critically Evaluate Conduct a 360 degree review of your programme(s) to understand what works within your context. Apply advanced analytical techniques to uncover the realities underpinning your programme(s) and the various elements within. Optimise Optimise your programme to maximise impact and reduce costs. Determine how you will measure your ROI and design/re- design your programme accordingly. Select only those elements that matter to the end goal. Embrace the New Be brave. Disconnect from old habits and unfounded beliefs; focus on what actually has an impact. Implement the new design and measure your ROI on a regular basis. Conclusion Our Recommendation 1 2 3 4
10.
2016 Early Talent
Development Report © 2016 Kwantum Leap Group Pte Ltd 10 Kwantum Leap Solutions Is it time to rethink your programmes? What We Do Programme Benchmarking Opt for a diagnostic package that will reveal the current state of your programme(s), help identify quick-wins and inspire both tactical and strategic changes. Targeted Assessment Take a targeted package that will delve into the detail of these element(s). Identify causes of a problem; quantify impact; discover major obstacles; get a tailored solution along with a business case for change. Thorough Programme Review Get the complete package. Combine diagnostic and targeted elements to understand every aspect of a programme and re- design specific elements or the entire thing. New Programme Design Letâs start by assessing your context and defining your objectives. Using our proprietary market research, you will get a programme that is optimised for you, using the techniques guaranteed to have the desired impact. Hopefully these facts and insights have been eye-opening. Our hope is that you can use these findings to complement the work you are already doing, whether it is to justify your investment, tweak your programme, re-design it completely or as a basis for building a new one. We are not going to assume we know what you need but should you be stuck as to how to start or need, a helping hand with reviewing your programme, Kwantum Leap is at your service. Kwantum Leap Solutions burdens the admin and complexity associated with auditing your programmes. Guided by your requirements, our solutions deliver critical data into your hands hassle-free. Additionally, our solutions can help you (together with all key stakeholders) define your Key Success Indicator(s), design your optimal programme and establish your key performance indicators; all with a view to giving you a clear return on investment. How We Do It About Us What You Get Kwantum Leap Solutions takes the 360Râą approach. In order to gather precise, accurate and meaningful data, multiple different perspectives are considered: Programme sponsors, programme administrators, line managers, current and past participants. Through a series of interviews, surveys and observations, you can rest assured that you will have the best data. Through the application of analytical techniques such as regression and triangulation, you will also receive the most informative insights, enabling you to make better decisions. 1. Heat maps to identify areas for improvement 2. A roadmap for the journey from current to desired state 3. A business case for your programme 4. Quantifiable analysis and measurement of your ROI This is where Kwantum Leap Solutions really add value. With over 15 years in coaching & consulting, we have deep hands-on expertise with early talent being embedded as trusted career advisors at top universities across Asia & abroad, including Cambridge, HKUST, INSEAD & NUS. We also bring a unique global perspective to help government agencies and major corporations such as Barclays, Deloitte and Polycom. For more information on how we can be of service, contact us. Jonathan Kwan +65 8305 6236 jon@kwantumleapcoaching.com Matthew Jurado +65 9657 2704 matthew@kwantumleapcoaching.com
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