What Is Talent Training and Why Is It Useful?
According to a report by Deloitte¹, companies spend over $100 billion on training and development for their employees. However, their efforts don’t often yield results because they don’t have a proper talent training program or don’t know how to create one. As a result, organizations struggle with identifying their top performers and high-potential employees.
Talent development programs require communication and collaboration between HR, team members, and managers. A good understanding of what talent training is and how it can help your company is the first step to creating a successful talent development program.
This article will go over what talent training is and why it is useful to your company.
What Is Talent Training?
Talent development is very important in today’s society, as businesses had to pivot how they trained new employees in the past few years during the COVID-19 pandemic. Upskilling and reskilling was the only option for many companies, as hiring new people was not an option.
Talent training is a series of processes to attract candidates with high potential, which means finding employees whose potential has not been discovered yet. Instead, you are teaching them the skills to reach their potential. By teaching these employees new skills, you are helping with their career growth and speeding up the company’s progress toward achieving its goals.
Companies use talent training to uncover hidden talent within their team by teaching them new skills and positioning them for career advancement. In a nutshell, it is the process of onboarding, training, engaging, and retaining high-performing employees.
It’s important not to confuse talent with skills when identifying an employee’s potential. Talent training is all about finding people’s strengths, then teaching them the appropriate skills.
Why Is Talent Training Useful for Your Company?
Every company should invest in talent training as it will pay off in the future. Many companies in every sector are noticing a skills gap that is slowly growing, or they expect to have one in the next few years. Thus, organizations must have a talent training program to stay competitive and relevant.
Talent training engages and motivates employees, especially if there is a plan for how they will advance from their current role into their next promotion. They can see all the steps they need to take, how long each will take, and they can celebrate their successes. Without a clear plan, employees may feel like they have no clear purpose in their work.
With a talent training plan, your top employees will be more likely to stay at your company for longer, as engaged employees are less likely to leave their companies. Also, some employees leave because they feel they’ve reached the top of the ladder in the company and can’t grow anymore. People need the chance to progress in their careers.
Lastly, talent development creates career opportunities. Employees value progression, so you should implement a development plan to help employees reach their goals and drive them to the next point in their careers. By doing this, you’ll create an environment with less turnover, keeping top performers at the company.
The Main Goals of a Talent Development Program
The main goals of your talent development plan should be:
- To create a high-performing team that works together to achieve the company’s goals
- To reduce the skills gap between employees’ skills and the business needs
- To reskill employees so the company stays competitive
- To retain and motivate talented and ambitious employees
- To increase employee engagement with the company’s goals and learning materials
There are numerous benefits of a talent development program, such as lower employee turnover, a higher rate of engagement, and motivated employees.
Now that you know what talent training is and why it’s important, it’s time to implement it in your company if you haven’t already. Start developing your plan now and reap the benefits in the future.
For expert help with talent development, see how Cyper Talent Solutions can help.
- If you love them, set them free, Deloitte: https://www2.deloitte.com/us/en/insights/topics/talent/future-workforce-engagement-in-the-workplace.html