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Rapid Skill Development: Meeting Tomorrow's Needs Before Tomorrow Arrives

Learn how to outperform your competitors by building and creating skills that give your firm a significant competitive advantage. Discover the key observations and strategies to rapidly develop skills and maximize your team's potential.

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Rapid Skill Development: Meeting Tomorrow's Needs Before Tomorrow Arrives

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  1. BestPractices 2013 Rapid Skill Development: Meeting Tomorrow's Needs Before Tomorrow Arrives Presented by Sam Allred Director at Upstream Academy, LLC

  2. WHAT DOES THIS QUOTE MEAN? “Since professional firms sell skill, talent, knowledge, and ability, it follows that any firm that can outperform its competition in building and creating skills will gain a significant competitive advantage.” David H. Maister 2

  3. WHAT DOES THIS QUOTE MEAN? “Competitive advantage does not come from an ability to hire better people than your competitors do, but from a superior ability to develop them.” David H. Maister 3

  4. QUESTION Is it possible to outperform your competitors in building and creating skills? 4

  5. TABLE DISCUSSION What advantages would you get if you outperformed your competitors in skill-building at all levels? Take 7 minutes and discuss this at your table.

  6.  OBSERVATIONS ABOUT TRAINING 6

  7. OBSERVATION #1 While we generally do a good job of providing technical training, we often do a poor job of training our people in the skills that will have a significant impact on their personal success. Few firms have a process for training their people in the vital leadership skills.

  8. “Most firms are pretty good at training their people in the technical core of their profession, but few work actively at developing some of the critical skills that determine the professional’s success.” David H. Maister

  9. QUESTION What are “some of the critical skills that determine [a] professional’s success?” 9

  10. OBSERVATION #2 One of the fundamental goals of every firm should be to retain its best and brightest people. One of the best ways to earn loyalty is to help your people make the most of their careers. Great training helps to do this.

  11. QUESTION How can great training help your people make the most of their careers? 11

  12. OBSERVATION #3 Too many individuals view meeting the annual CPE requirement as synonymous with meeting an individual’s training needs. In some ways this has cheapened the overall training experience for many within our profession.

  13. OBSERVATION #4 Too often, firms commit significant resources to annual or semi-annual training marathons that seem to ignore all we know about the ability of the human mind to process and retain new information.

  14. OBSERVATION #5 Most firms have not established written training standards and, as a result, the quality of the training experience can vary greatly and is at a much lower level than it should be.

  15. OBSERVATION #6 Too often, we send individuals to CPE courses or conferences with very few expectations regarding what they are to learn, do, and bring back. As a result, we often have minimal results to show for the firm’s investment in training.

  16. OBSERVATION #7 We do very little testing within our firms and so we really don’t know how effective our training is. We seem far more content to comply with the CPE hour requirement than to help team members move to the next skill level.

  17.  KEYS TO RAPID SKILL DEVELOPMENT 17

  18. KEYS TO RAPID SKILL DEVELOPMENT Increase expectations. Be more appropriately demanding early in an individual’s career that they become an expert in one of more areas. No tolerance for under-delegation. No one in the firm should be working below his/her pay grade. All work should be pushed down to the appropriate level.

  19. KEYS TO RAPID SKILL DEVELOPMENT Willingness to move someone out of his/her comfort zone. Comfort zones need to be viewed as career anchors. Proactively schedule your best people on your best opportunities. Ensure one-on-one shadowing occurs.

  20. KEYS TO RAPID SKILL DEVELOPMENT Insist on an effective client screening process as part of a well-organized, constant push to upgrade the caliber of work brought in. Use technology more effectively to teach critical skills. Consider video on demand training.

  21. KEYS TO RAPID SKILL DEVELOPMENT Focus as much on the necessary transfer of knowledge as you do on the transfer of clients.

  22. QUESTIONS AND ANSWERS

  23. Thank You! sama@upstreamacademy.com

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