Episode 55

full
Published on:

2nd Aug 2023

Key Steps for Creating Best of Breed Individual Development Plans

Summary:

Employee turnover in small to midsize organizations is often caused by issues with the immediate manager and lack of growth opportunities. To address this, managers should implement an individual development plan (IDP) for each employee. The IDP should be collaborative and focused on the employee's goals and career aspirations. It should include specific, measurable, achievable, relevant, and time-bound (SMART) goals. Managers should identify the employee's existing skills and areas for improvement and provide opportunities for growth and development within the organization. Regular check-ins and progress tracking are essential, and flexibility should be built into the plan. Celebrating wins is also important to keep the team engaged and motivated.


Key Takeaways:


Employee turnover is often caused by issues with the immediate manager and lack of growth opportunities.

Implementing an individual development plan (IDP) can help address these issues and improve employee satisfaction and retention.

The IDP should be collaborative and focused on the employee's goals and career aspirations.

Goals in the IDP should be specific, measurable, achievable, relevant, and time-bound (SMART).

Managers should identify the employee's existing skills and areas for improvement and provide opportunities for growth and development within the organization.

Regular check-ins and progress tracking are essential to ensure the IDP is on track.

Flexibility should be built into the plan to accommodate changing priorities.

Celebrating wins is important to keep the team engaged and motivated.


Timestamp

[0:00:00] Employee turnover is often caused by managers and lack of growth opportunities.

[0:02:01] Individual development plans (IDPs) should be collaborative and use the SMART format.

[0:03:43] IDPs should include identifying skills and finding opportunities for growth.

[0:04:11] Regular check-ins and flexibility are important for measuring progress.

[0:05:30] Celebrating wins is crucial for keeping the team engaged.

Transcript

[TRANSCRIPT]

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Engaging Leadership
Uncovering stories and strategies behind successful educational leadership
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About your hosts

CheeTung Leong

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I'm committed to helping people live their best lives through work.

I'm one of the co-founders of EngageRocket, an HRTech SaaS startup and we are focused on helping organizations build empowered managers, engaged employees, and elite teams.

I'm a big nerd when it comes to economics and psychology and regularly use data and tech to help folks live their best lives.

I've been recognized by Prestige Magazine as one of the top 40 under 40 business leaders and have been featured in Forbes, Bloomberg, Business Insider, and Tech in Asia.

Jim Kanichirayil

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Your friendly neighborhood talent strategy nerd is the producer and co-host for The HR Impact Show. He's spent his career in sales and has been typically in startup b2b HRTech and TA-Tech organizations.

He's built high-performance sales teams throughout his career and is passionate about all things employee life cycle and especially employee retention and turnover.