July 2015
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Study Finds Lack of Talent Development Programs

Monday, July 13, 2015

A recent study found that there is a chronic lack of planned and consistent career development training worldwide. The report, released by Saba, a provider of cloud-based talent management products, found that the majority of employees—57 percent—receive their training from on-the-job experience. Perhaps more troubling, the study found that only 13 percent of companies invest in talent management programs to help employees grow and thrive. For the companies that do invest in these sorts of programs, only 35 percent offer online career development tools. "Understandably, companies are focused on bottom line growth and results. Unfortunately, many organizations don't consider the career development of their employees a part of that growth equation—but they should," said Emily He, Saba’s chief marketing officer. "Not only is talent management and training an integral part of workforce development, it's proven to be a driving factor in the long-term growth and success of an organization." And talent management programs are becoming increasingly important in attracting new talent. The study showed that the majority of Millennials (55 percent) are the most aggressive in seeking out development opportunities.

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