Individual Development Plan
Identifying Goals and Strategies for Financial Professional Development
Employee Worksheets
Training Services Financial Competency Program
Organizational Effectiveness
For Employee Only
Part 2 of 3
IDP Planning Worksheet
Before starting this worksheet, the employee and manager will have
agreed upon one to two Financial Core Competencies in which to
develop the plan. Please list those in the box provided. This worksheet
is designed for the employee to complete. It allows for personal
reflection, goal setting, and identification of possible development
activities to be included in the IDP. The completed form will be used
when meeting with the manager to create the final IDP Agreement. In
this meeting, specific action steps to develop the desired competencyrelated goals will be determined.
Please block off about 60-minutes for this activity.
The one or two financial
competencies my IDP will focus
around are:
1. __________________________
2. __________________________
Optional – Personal SOAR Exercise
Individual development planning is all about creating current and long-term goals for your job, and developing action
steps towards accomplishing your plan.
Before you know where you want to go, you need to look at your current state – what’s working, what needs attention,
how can the department benefit from your learning? A Personal SOAR analysis (Strengths, Opportunities, Aspirations,
Results) will help you in planning your IDP Goals.
Strengths
What are your greatest assets as they relate to the competencies you’ve identified?
• What are you really good at?
• What skills do other people recognize in you?
• What do you do better than most people you work with?
• What about yourself, are you most satisfied with?
• What experiences do you have that others don’t?
Opportunities
What possibilities exist to further develop skills, knowledge or ability related to the competencies you’ve identified?
• Is there a future team project that would allow you to learn new skills?
• What certifications would help you move ahead?
• Would courses such as business writing, curriculum development, graphic design, etc. will help you expand your
current role and/or help you move within the department?
• What development opportunities exist within your current job or daily routine? How can these activities
supplement your current plan? How will you track your progress and report these to your manager?
Aspirations
What do you hope your professional future will look like in relation to enhancing the 1 to 2 competencies identified?
• Do you want to write well?
• Do you want to coach, teach or train?
• Do you want to improve your leadership skills?
• Do you want to get a Master’s degree? In what?
Results
How will you measure your development in the 1 to 2 competencies identified?
Define what success means to you and determine what results you will need to attain your goals for success.
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Personal SOAR Analysis
Strengths
Aspirations
Opportunities
You
Results
Based on your Personal SOAR Analysis, identify the professional goals you’d like to accomplish by this time
next year. We recommend you have at least two and not more than four. This will allow you to experience
focused results. Use the SMART approach to setting your goals.
1.
2.
3.
4.
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Financial Competency: Identifications, Definitions, and Behavioral Anchors
Functional / Technical Skills
Definition
Demonstrating ability to understand and use the financial systems of the University.
Behavioral
Anchors
•
•
•
Can correctly complete transactions in a timely manner.
Is able to understand the majority of error messages and find the discrepancies and resolve
them.
Is able to process documents or complete transactions that fall outside of the ordinary.
Analytical Thinking
Definition
The ability to break down problems into their component parts and consider or organize parts in a
systematic way; the process of looking for underlying causes or thinking through the consequence of
difference courses of action.
Behavioral
Anchors
•
•
•
•
Use a step-by-step approach to break down financial problems or processes into their constituent
parts.
Identify cause and effect by identifying trends in incorrect transactions, why error messages are
occurring, and what transaction to perform based on previous results.
Analyze issues/concerns to arrive at an appropriate solution by looking at all available financial
information and considering all possible solutions.
Define significant parts and how they are related to the University’s financial policies and
procedures.
Critical Thinking
Definition
The ability to identify an issue, dilemma, or problem; explore and evaluate relevant information; and
integrate the results into the development of a resolution.
Behavioral
Anchors
•
•
•
•
Identify and clarify the issue by reviewing available information.
Evaluate evidence for value, validity, and accuracy based on information found.
Interpret policy by reviewing it to see if and when it applies.
Resolve issues and discrepancies by determining the causes of problems, developing a plan to
address the problem, and then implementing the plan.
Problem Solving / Decision Making
Definition
Active search for a solution or answer to a question or matter involving doubt, uncertainty, or
difficulty utilizing the processes of research, analysis and critical thinking.
Behavioral
Anchors
•
•
•
•
•
Ability to define the issue and identify the information requirements.
Determine a range of possible sources for collecting data/information (e.g., co-worker, manager,
FSS Helpline, the University’s policy and procedure, training materials, outside sources).
Gather and analyze information and generate options using research and University policy.
Choose the best alternative by reviewing the options that have been identified and selecting the
appropriate one.
Resolve issues and discrepancies by determining the causes of problems, developing a plan to
address the problem, and then implementing the plan.
Financial Competency: Identifications, Definitions, and Behavioral Anchors
Communication
Definition
The transferring of thoughts, opinions, or knowledge related to financial information and the
expression of ideas, orally or in written form, to individuals or groups.
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Behavioral
Anchors
•
•
•
•
Listen actively by demonstrating one or more of the following:
Paraphrase: Restate in their own words what they believe has been communicated.
Mirror: Reflect back the message using the speaker’s exact words.
Clarify: Make sure the message has been understood. “Lets me make sure I understand what
you’ve said. It sounds to me like.…”
Encourage: Use body language and verbal cues to encourage the speaker to continue or expand.
“Tell me a bit more about what you are thinking.”
Be intentionally silent: Use silence to allow time for messages to sink in, strong emotions to
dissipate or a speaker to gather his or her thoughts.
Communicate purposefully and in a timely way to ensure that financial activities are completed
when necessary.
Ask clear and well thought-out questions by planning the questions and possible follow up
questions.
Identify communication styles, individual interests, abilities, and knowledge levels to
communicate with a diverse audience.
Express facts and ideas in writing in a succinct and organized manner.
•
•
•
•
•
•
Time Management
Definition
The development of processes and tools that increase efficiency and productivity and ensure
accomplishment of specific objectives.
Behavioral
Anchors
•
Develops or uses systems to organize and keep track of information (e.g., "to-do" lists,
appointment calendars, follow-up file systems).
Sets priorities with an appropriate sense of what is most important and plans with an
appropriate and realistic sense of the time demand involved.
Keeps track of activities completed and yet to do, to accomplish stated objectives.
•
•
Understands the University Context
Definition
Knows, understands, and can interpret University policies and how they relate to financial
transactions and to the financial system at the University. Understands the University
environments and processes that impact the user of the financial system.
Behavioral
Anchors
•
•
•
Adheres to University policy.
Understands why adherence to policy is important and can communicate that to others.
Understands the full context of a process, including inputs and outputs and ramifications of
not following the process.
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Financial Competency: Identifications, Definitions, and Behavioral Anchors
Integrity
Definition
Undertakes tasks with an attitude of uncompromising ethics and honesty at all times, both
professionally and personally with the intent of the rules and core values of the organization.
Behavioral
Anchors
•
•
•
•
•
Follows through on commitments.
Only makes promises that can be kept.
Takes care of the needs of the unit.
Willing to accept responsibility or authority.
Follows the University of Minnesota’s Code of Conduct Regent’s Policy.
Accuracy / Attention to Detail
Definition
Thoroughness in accomplishing a task through concern for all the areas involved, no matter how
small. Monitors and checks work or information and plans and organizes time and resources
efficiently.
Behavioral
Anchors
•
•
•
•
•
Double checks the accuracy of information to provide accurate and consistent work.
Provides information on a timely basis and in a usable form to others who need to act on it.
Carefully monitors the details and quality of own and others’ work.
Expresses concern that things be done right, thoroughly, or precisely.
Completes all work according to procedures and standards.
Optional Competencies
Service
Definition
Demonstration of a strong commitment to providing internal and external customers with timely,
quality, and courteous financial service.
Behavioral
Anchors
•
•
•
•
•
Identify customer needs by inquiring about their concerns, desires, and/or problems.
Consider all possible actions to take based on the University’s policies and procedures.
Decide on the best course of action by considering the customers needs/desires and what can be
done to meet these needs.
Take the best course of action and verify if the action meets needs/desires.
Respond to customer needs in an approachable, responsive and timely manner.
Influence / Negotiation
Definition
Encouraging or persuading others of a course of action for the terms of a financial transaction or
agreement with the ability to explore positions and alternatives to reach outcomes that gain
acceptance of all parties.
Behavioral
Anchors
•
•
•
•
•
Identify the financial issue.
Listen actively to other ideas and presents own ideas for a balance of perspectives.
Develop additional ideas with others.
Decide solutions to agree upon with others.
Verify the solution/agreement with others.
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Identify Development Opportunities
The next few pages are designed to help the employee identify potential development opportunities for the
IDP. Once the potential activities have been designated, the employee will meet with the manager to create
the action steps to achieve the desired goal. Some negotiations may take place, as all development activities
within the unit/department must be approached strategically by the manager. For example, any necessary
funding, time off, etc., must be approved by the manager.
Please note each goal must correspond with one (or more) of the Financial Core Competencies. You can review
the list, definitions, and standard behavioral anchors on the previous pages (4-6).
Goal:
Strategies to Enhance Financial Competency:
Examples include: On-the-job training activities, mentoring, job-shadowing, courses through
OE, Regents Scholarship courses, coaching, self-development. There may be multiple activities
to achieve a single goal.
Core Competencies:
Functional/Technical Skills
Analytical Thinking
Critical Thinking
Problem Solving/ Decision Making
Communication
Time Management
Integrity
Accuracy/Attention to Detail
Understands U Context
Optional Competencies:
Influence/Negotiation
Service
Optional - Supervisors:
Staff Management
Strategic Planning
Action Steps:
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Timeline for Completion:
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Goal:
Strategies to Enhance Financial Competency:
Examples include: On-the-job training activities, mentoring, job-shadowing, courses through
OE, Regents Scholarship courses, coaching, self-development. There may be multiple activities
to achieve a single goal.
Core Competencies:
Functional/Technical Skills
Analytical Thinking
Critical Thinking
Problem Solving/ Decision Making
Communication
Time Management
Integrity
Accuracy/Attention to Detail
Understands U Context
Optional Competencies:
Influence/Negotiation
Service
Optional - Supervisors:
Staff Management
Strategic Planning
Action Steps:
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Timeline for Completion:
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Goal:
Strategies to Enhance Financial Competency:
Examples include: On-the-job training activities, mentoring, job-shadowing, courses through
OE, Regents Scholarship courses, coaching, self-development. There may be multiple activities
to achieve a single goal.
Core Competencies:
Functional/Technical Skills
Analytical Thinking
Critical Thinking
Problem Solving/ Decision Making
Communication
Time Management
Integrity
Accuracy/Attention to Detail
Understands U Context
Optional Competencies:
Influence/Negotiation
Service
Optional - Supervisors:
Staff Management
Strategic Planning
Action Steps:
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Timeline for Completion:
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Goal:
Strategies to Enhance Financial Competency:
Examples include: On-the-job training activities, mentoring, job-shadowing, courses through
OE, Regents Scholarship courses, coaching, self-development. There may be multiple activities
to achieve a single goal.
Core Competencies:
Functional/Technical Skills
Analytical Thinking
Critical Thinking
Problem Solving/ Decision Making
Communication
Time Management
Integrity
Accuracy/Attention to Detail
Understands U Context
Optional Competencies:
Influence/Negotiation
Service
Optional - Supervisors:
Staff Management
Strategic Planning
Action Steps:
Timeline for Completion:
Once the IDP Employee Worksheets have been completed a meeting between the employee and manager will
need to occur. At this meeting, the final IDP Agreement will be created based on how the personal competency
goals complement the needs of the department.
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