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Develop Stability in Your Business through Talent Development

Monte Wyatt & Brad Sugars, Jul 30, 2019

Leadership is developing your own personal leadership skills. Talent development is helping everyone in the company to develop continually. This means everyone from top management to frontline employees should have a plan to improve their hard and soft skills to achieve success. It's a fundamental value for any company.

Talent Development is a component of the Discipline of People, along with leadership and recruitment.

As Richard Branson has said, Train people well enough so they can leave; treat them well enough so they don't want to.

Successful companies adapt to new situations by offering a way for their people to cultivate their skills and talents. Not once, but continuously. They make sure that everyone who works in the organization are well equipped to handle new challenges as they arise, or even before they arise.

The goal is to guarantee that everyone is ready for their next position before they move into it. You provide employees with stimulating, rewarding and challenging careers, and you increase their job engagement and satisfaction. This is important for stability, the hallmark of the Discipline of People.

The majority of business leaders and human resources teams believe that they have a significant retention and engagement problem. At this moment, four out of 10 workers feel disengaged. One primary reason people quit their jobs is that they don't see future career opportunities. Many organizations lack stability because they haven't created a process for developing talent.

The nuts and bolts of talent development are these:

  • Create a process for developing talent
  • Help employees create personal-development plans

Train people to move into new positions within the company.

When you have a proper talent development program, it means that well-trained team members can easily move into new positions within the company as they're needed. It means that a business of any size can engage in new strategies to cope with shifts. The company can take risks by assembling new teams to tackle new problems, saving the time, money and effort of attracting new talent.

The most impactful day for a new employee and for your company is their first day. Every new employee should have a clear onboarding plan that outlines what they need to know to do their job, along with who will teach it and when. This onboarding plan must be written down on paper and could last from a few days to a few weeks. The hiring manager and someone from human resources should coordinate the creation of this plan.

An organization's management team must continually support talent development and onboarding programs. If talent development and onboarding don't become part of the company's DNA, then old habits will overrule the initial enthusiasm of a new approach.

Talent development cannot be an afterthought. It must be part of your company's foundation. You must make time and space for workshops or training sessions. Talent development must be a continual process. Too much is at stake for the sustainability of your company to let developing talent become an afterthought.

To recap, with talent development you help everyone in the company to develop continually. Everyone from top management to frontline employees should have a plan to improve their hard and soft skills to achieve success.

Talent development is a journey, not a destination.

We'd love to hear from you. What is the talent-development process like in your organization? Thank you for sharing.