Unless you’re in the business of human resources, you probably think talent development and talent management are interchangeable. Believe it or not, there is a significant difference between the two. Companies are learning to use both for future growth and success with their employees.
Talent development is specifically focused on how to develop employee skills and competencies. It has to do with organizations providing learning opportunities and tools for them to advance their overall careers. The goal of talent development is to create a place where people are engaged, have a high work performance, and are constantly learning and growing.
Many people assume talent development is only about training programs. Training programs are a great way to help people develop a specific skill, but growth opportunities should also occur on the job. This on-the-job model of learning from coworkers can enable people to acquire relevant skills and develop knowledge in a more personalized way.
Talent Management is a bit broader and is an organization’s commitment to recruiting, staffing, and succession planning for the highest-quality staff members that they can find. In simpler terms, talent management is a strategy that involves hiring the right people and enabling each of them to maximize their individual talent. By managing talent strategically, companies can build a high-performance workplace, add value to their branding, and contribute to diversity management.
The concept is not limited to recruiting the right candidate and can extend to exploring the hidden qualities of your employees and developing and nurturing them to get the desired results.
Still Confused About Talent Development vs Talent Management?
Think of it this way:
Talent Development = develop, motivate and retain employees.
Talent Management = recruit and maximize talent.
The Highlands Company offers Talent Development Workshops to organizations seeking a new way to inspire their teams and leaders. Ask us for more information.