Talent Development Versus Learning and Development: What to KnowAugust 23rd, 2022 — Revature
Have you ever come across the terms talent development and learning and development and wondered whether they are the same or different? Unfortunately, many people confuse these terms and use them interchangeably. However, learning and development are core elements of talent development, and all of these together can contribute positively to the talent management strategy of your organization.
These concepts are crucial to attract and retain talent, without which your company may not achieve the growth you envision. This article explores talent development versus learning and development in detail and discusses ways to practice both.
What Is Talent Development?
According to a book published in 2020, talent development explains the efforts that help foster engagement, learning, and employee development and thereby enhance the performance of an organization and overall productivity. Simply put, it works as a tool that unleashes human potential and helps drive organizational results.
Talent development also groups specific practical capabilities that produce positive outcomes for a company by creating frameworks, processes, and systems. Interestingly, talent development is a secret that helps attract various high-potential candidates to your business. Moreover, it also proves useful in retaining existing employees through motivation.
Here are some common objectives of all talent development plans:
- Creating a solid and efficient workforce that can help an organization achieve all its objectives
- Decreasing the gap between the skills of the employees and the business needs of your company
- Reskilling the workforce so that your organization can become competitive
- Enhancing employee engagement through a strong company vision and learning materials
Do you know that almost 87% of companies recognize a certain skill gap? To reduce it, there is a need to implement talent development strategies to be competitive and relevant.
Benefits of Talent Development
Here are some advantages of implementing a solid talent development strategy in your company:
- Increases performance and productivity.Talent development helps employees recognize their skills, and it also gives them an understanding of the tools they require. This information gives them the courage to make minor errors and increase their productivity.
- Attracts good potential candidates. Investment in talent development means creating a company to which good talent may feel attracted. Many people only consider becoming part of an organization that cares about the growth and wellness of its employees.
- Sets standards. Talent development is crucial to create uniformity in employees’ skill levels and knowledge.
- Enhances customer satisfaction. Finally, talent development increases employee performance and, as a result, also boosts customer experiences and satisfaction.
What Is Learning and Development
Together, learning and development are defined as a unique systematic process that increases the skills, knowledge, competency, and learning of an employee to generate fruitful results for your company. Learning revolves around adapting new skills and knowledge, while development expands knowledge that helps a person achieve their goals.
This concept has one primary focus: to develop a particular skill or knowledge in the minds of the employees so that they can perform better with their cultivated attitudes. In order to create an effective learning and development strategy in your company, you need to go through four different phases:
- An evaluation of required training needs
- Learning objectives
- Curation of method and content on training
- Evaluation and monitoring
Before implementing a learning and development strategy, it is imperative to recognize the training needs of your employees. However, it isn’t right to impose learning on your employees just because it is essential. Instead, the need for learning should come naturally to acquire skills, knowledge, and attitudes that might help your company’s future.
Once the training needs have been identified, they should be translated into various learning objectives. These objectives help curate the method and content required for training. All learning objectives should be measurable and specific.
The determination of learning objectives helps improve the design of learning methods and materials. These paths to learning may include lectures, presentations, and lessons. Practical training often consists of more than one method of learning.
The final step of learning and development is monitoring and evaluation. This phase involves assessing the effectiveness of learning and also evaluating the objectives. Practical training should always result in behavioral change and should positively impact the goals of your company.
Talent Development Versus Learning and Development
Here are some key differences between the two:
- Talent development focuses on talent acquisition and retention through the engagement, management, and learning of employees. It is a broad concept.
- On the flip side, learning and development are two components of talent development that help increase the competency and knowledge of employees through different methods such as presentations and lectures.
- A talent development strategy is designed to reduce the skill gap in a company while learning and development help enhance the knowledge of the existing employees.
- Both help increase productivity in an organization and help achieve further success.
Choosing an Effective Talent Development Strategy
We have already discussed how an effective talent development strategy is essential for your business. So, if you want to design or choose one, here are some tips to follow:
Identify Your Weaknesses and Strengths
What are the weaknesses of your organization? For example, do you have too many inexperienced people in your workforce, or are people in your teams functionally illiterate?
Further, do they require more technical knowledge, or are they professional enough to handle all the complicated aspects? Recognizing both strengths and weaknesses is crucial to creating an effective strategy. This tip is for all kinds of businesses.
Without having a clear idea of your business objectives, you may take longer than necessary to curate a strong talent development strategy. Moreover, you may also make unnecessary errors without knowing your goals.
Regardless of the industry in which you operate, it is best to consult a talent partner even if you are only slightly confused about creating the right talent development strategy. Revature can help with your workforce planning and design a process to meet your objectives. The company can also develop a customized curriculum for your employees so that you can meet all your strategic goals with ease.
Both talent development and learning and development are significant components of your company’s performance goals. They help increase overall productivity and attract new and competitive talent.
While they are slightly different, they serve the same purpose. If you want to implement a strong talent development strategy in your organization, be sure to evaluate your strengths and weaknesses first and then take help from professionals to eliminate any chance of error.