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In this video, Stephen Goldberg of Optimus Performance discusses the importance of conducting a training needs analysis to identify employees' training requirements. He introduces a new, free downloadable worksheet designed for this purpose, which complements a previous video on managerial responsibilities emphasizing the balance of various skills. The worksheet includes predefined competencies related to management and supervision, with an additional blank tab in Excel for users to customize their own competencies. Goldberg suggests starting the competency identification process from job descriptions.