The document provides guidance on goal setting, development planning, and the 70-20-10 approach to development at ChampionX. It discusses that goal setting focuses on critical objectives for the performance year while development planning ensures attention to each employee's growth. It also notes that the 70-20-10 approach recommends that 70% of development comes from experience, 20% from others, and 10% from formal training. The document provides answers to common questions about an employee and manager's roles in development planning and initiating individual development plans in Workday.
The document provides guidance on goal setting, development planning, and the 70-20-10 approach to development at ChampionX. It discusses that goal setting focuses on critical objectives for the performance year while development planning ensures attention to each employee's growth. It also notes that the 70-20-10 approach recommends that 70% of development comes from experience, 20% from others, and 10% from formal training. The document provides answers to common questions about an employee and manager's roles in development planning and initiating individual development plans in Workday.
The document provides guidance on goal setting, development planning, and the 70-20-10 approach to development at ChampionX. It discusses that goal setting focuses on critical objectives for the performance year while development planning ensures attention to each employee's growth. It also notes that the 70-20-10 approach recommends that 70% of development comes from experience, 20% from others, and 10% from formal training. The document provides answers to common questions about an employee and manager's roles in development planning and initiating individual development plans in Workday.
The document provides guidance on goal setting, development planning, and the 70-20-10 approach to development at ChampionX. It discusses that goal setting focuses on critical objectives for the performance year while development planning ensures attention to each employee's growth. It also notes that the 70-20-10 approach recommends that 70% of development comes from experience, 20% from others, and 10% from formal training. The document provides answers to common questions about an employee and manager's roles in development planning and initiating individual development plans in Workday.
1. What is the difference between Goal Setting and Development Planning?
• Goal Setting is the process by which employees and managers align on the actions necessary to deliver individual and company success. Performance goals are job-oriented, focusing on the specific, critical objectives to be completed during the upcoming performance year. Goal Setting also forms the basis of the annual performance review at the end of the year. • Development Planning ensures attention is given to each employee’s ongoing growth and professional development. Development goals are learning-oriented, helping employees attain the skills and knowledge needed to increase their effectiveness in their current role or prepare for a future role.
2. What is the 70-20-10 approach to development?
• Research shows that some of the best development opportunities do not lie in a classroom or training program, but rather occur through on-the-job learning experiences. Further, it shows that the development experiences with the highest value are experiential (e.g. – challenging assignments), then development through others (e.g. – mentoring) and finally, through formal learning (e.g. – training classes). • Therefore, at ChampionX, we believe a blended learning approach incorporating both formal and informal development – also known as the 70-20-10 approach. Through this approach, 70 percent of development is learned through experience, 20 percent is learned from others and 10 percent is learned through training. We believe this is the most effective approach for our employees.
1 Q&A for Employees
1. As an employee, what is my role in Development Planning?
• Development Planning is an ongoing activity that should be addressed throughout the year. There is no beginning or end date to development, so employees will not receive an inbox task related to this process. Employees are expected to have an active Development Plan entered in Workday at all times and should work with their manager to ensure they are meeting this expectation.
2. How many goals should be included in my Development Plan?
• A strong Individual Development Plan identifies the two or three high impact opportunities that will most increase performance in the year ahead and may help prepare employees for future roles.
3. Am I required to create a Development Plan?
• Based on ChampionX’s performance management philosophy, all employees are encouraged to have an Individual Development Plan. The Individual Development Plan allows the employee to play a key role in their continued professional develop and the identification of areas of interest for future growth. It is the employee’s responsibility to initiate their Individual Development Plan utilizing the Workday planning process.
4. How do I initiate my Individual Development Plan?
• To initiate your Individual Development Plan, open Workday and either search “Start My Development Plan” or navigate to the Career worklet homepage. Once you are on the Career worklet homepage, select “Start My Development Plan.”
2 Q&A for Managers
1. As a manager, what is my role in Development Planning?
• Development Planning is an ongoing activity that should be addressed throughout the year. There is no beginning or end date to development, so employees will not receive an inbox task related to this process. Employees are expected to have an active Development Plan entered in Workday at all times and should work with their manager to ensure they are meeting this expectation.