It may not come as a surprise that there are a lot of benefits of managing the talents within the company. With a changing working environment during and after the pandemic, hybrid and remote working has increased, and it is more important than ever to keep and attract talent. Talent Development plays an important part in the development of employees and even in their happiness in the workspace.
What are examples and benefits of talent development?
Every employee has their own needs, their own talents and their own goals. It is important to understand this for their development and the development of the company. Because when your staff is happy, the company thrives and delivers. This will gradually have a positive impact on the working environment. Leadership management is something that can help with motivating staff.
Talent Management Importance
A study from LinkedIn shows that 94% of employees would stay longer with an employer if the company invested in their career. We have experienced talent development increases productivity, but this study also shows it helps with keeping talent within the company.
We believe in an in-person approach, we have discussed this in our change management article. This means it all starts with ourselves and managing our emotions. Talent Development is only possible if the person wants to learn and understands the importance of development. Communication is key to ensuring employees are happy and to understanding their goals. It’s also crucial for learning the talents they’re most proud of.
What are some examples and benefits of talent development?
- Getting employees more engaged within the company
- Discovering the fullest potential of each staff member
- Increasing productivity
- Adding more value to the company’s and employee’s proposition
- Impact employees experiences in the workspace
What are the stages of talent development?
Talent Development is not only beneficial for the company, but it can offer employees more happiness in the workspace. Knowing that they are appreciated and that the company is investing in their role and personal skills.
Harvard Business Review published a review that shows happy employees are more engaged with the company, satisfied and productive. They are, as they call it, thriving. Employees’ well being plays an important part in the company’s overall productivity and engagement.
Talent Management Plan
- The first step in the several stages of talent development is discovering the personal needs of the employees. Before starting with a learning program it is important to know if the employee feels engaged and is ready to make a change, grow and learn. It is important to get to know their goals, aspirations and expectations of the process. Discussing expectations is important to both the employee as the employer to make sure you are on the same page and there are no confusions.
- The second step is to create a plan with KPIs that are achievable for the company and the employees. Finding the right (HR) people that will lead the process, or outsourcing the process are important choices to make.
- Thirdly, you get to decide who gets access to the talent development program. It is good to understand in which area of the company it is needed and has the most effect for driving business. Are there any issues the company is facing at the moment? Where could talent development help?
- Lastly, audit the success of the program. Did the program meet the expectations (for both the employer as the employees? Did it deliver the desired results? Feedback is an important part, so we definitely recommend not to skip this.