All entries for Sunday 21 April 2013

April 21, 2013

The magic mix

Currently working on KM strategy and trying to find a perfect mix of different development programs that will provide employees in WaveRiders with the best theoretical knowledge and practical skills for making AM decisions. However, it is hard to say what is the perfect mix.

According latest Hay Group review on personnel development, company mainly has three directions, which are:

  • Experience – (some companies do nothing more than that) moving people from one functional area of responsibilities to another and setting assignments to insure they get the right depth of experience;
  • Coaching – developing a one on one plan where individuals work on specific areas that have been identified;
  • Academic studying – some organizations provide their employees with short-term courses in universities or colleges with the aim of getting advanced theoretical knowledge in some field.

As it was mentioned in review the 70/20/10 is usually the common combination of those ingredients. However, many executives now consider that there should be more academic studies. As it usually happened, after developing essential skills, it is not necessary that person have a deep understanding of how to apply those skills and what is their nature. Thus, he or she might not be able to apply new skills as efficient as if he/she had theoretical background in that field before. Therefore, in searching of a perfect mix for WaveRiders, it can be assumed that 60/20/20 combination of experience, coaching and academic studies might be more appropriate as we consider AM decisions and there nature. For example, how we can make decision on assets’ investment if we don’t have deep understanding of its relation to other business processes and how this decision will influence business system as a whole. 


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