INSEAD Library

Includes bibliographical references

Digitized

Smart Investments Developing Top Performers in Wholesale Distribution Contents Foreword.................................................................................................................................................. ix Preface...................................................................................................................................................... xi Acknowledgments.................................................................................................................................xv 1. Introduction....................................................................................................................... 1 About the DREF Survey...............................................................................................................2 Importance of Venturing into Soft Business Practices....................................................3 Training and Development Activity Matters.........................................................................4 The Power of People.......................................................................................................................5 What This Book Is--and Is Not................................................................................................. 5 Getting the Most from This Book............................................................................................. 6 HRD and Wholesale Distribution............................................................................................. 7 Basic Principles Drive TandD Activity........................................................................................11 2. Valuing Training and Development............................................................................... 13 Basic Principles Drive TandD Activity........................................................................................13 Business Factors Drive Training Activity: Some Perspectives......................................14 Values Propel TandD Activity........................................................................................................ 17 3. Defining Human Resource Development...................................................................... 21 Adult-Learning Principles........................................................................................................... 22 Integrating Business Goals and Training Activity............................................................. 23 Employee-Focused TandD Strategies......................................................................................... 24 Impact of Employee-Focused Business Strategies on Employee Performance.......................................................................................................... 25 Employee-Focused Strategy That Achieves Business Objectives.................................26 Employee Development and Profitability.............................................................................. 28 Planning in Anticipation of Business Cycles....................................................................... 28 Employee-Focused Initiatives: Investment or Expense?..............................................33 Business Objectives and Training Alignment: From Perception to Planning and Implementation....................................................................................... 34 Economic Conditions and Training Activity......................................................................37 Aiming High: Best Practices and Benchmarks for TandD............................................... 38 In the Absence of Training...................................................................................................... 39 Getting Engaged.......................................................................................................................... 39 First and Foremost: You Need an Integrated Plan..........................................................40 4. Owning the Training Function through Partnerships......................................... 43 Who Is Doing the Training?.....................................................................................................43 Tapping into Training Resources.......................................................................................... 44 The Training Profession............................................................................................................ 44 Who Are Training Professionals?........................................................................................... 45 TandD Competencies..................................................................................................................... 46 Planning with Outside Consultants and Speakers.........................................................48 Engage Employees in the Planning Process......................................................................48 Employees as Partners in Learning......................................................................................49 Partnerships with Executives ............................................................................................... 52 Partnerships with Vendors .....................................................................................................54 Partnerships with Trade Associations and Professional Organizations................. 58 Proactive Dialog........................................................................................................................... 61 Successful Partnerships...........................................................................................................61 5. A Structured Approach to Training .......................................................................63 Characteristics of Excellent Programs................................................................................ 64 Creating Integrated Programs................................................................................................ 65 Programmatic Benchmarks.....................................................................................................68 Planning That Encourages Transfer of Learning.............................................................71 Financial Benchmarks..............................................................................................................76 Categorizing and Budgeting Training Activity................................................................. 76 Training Costs as a Percentage of Payroll......................................................................... 77 Training Investments and Payroll Costs............................................................................ 79 Budgeting Policies and Procedures...................................................................................... 80 6. Train All Your Employees and Hold Them Accountable...................................... 83 The Employee Development Cycle........................................................................................ 83 Deciding Who Gets Trained within Your Workforce........................................................ 84 Importance of Content.............................................................................................................. 85 Training Content........................................................................................................................... 86 Train Everyone on Everything! ............................................................................................... 88 Positioning Your Company's Training by Job and Content ......................................... 88 Deciding How to Train ............................................................................................................... 92 Training Delivery Methods........................................................................................................ 94 Different Companies, Different Approaches....................................................................... 95 7. Overcome Obstacles through Creative Solutions....................................................... 105 Obstacle 1: Turnover................................................................................................................ 106 Obstacle 2: Lack of Time for Training................................................................................ 109 Obstacle 3: Tight Staffing ...................................................................................................... 110 Obstacle 4: Inadequate Resources for Fulltime Training Professionals................ 112 Obstacle 5: Failure to Think Like a TandD Professional................................................. 114 Building Confidence through a Case Study..................................................................... 114 Lessons Learned......................................................................................................................... 119 8. Getting Started ................................................................................................................ 121 References and Resources................................................................................................................ 123 About the Author................................................................................................................................. 125