4 Reasons Why You Need to Invest In Talent Development Right Now

Posted by Trakstar • November 17, 2022 (Last modified January 12, 2023) • 4 min read

Do you have goals for your workforce? It’s time to start going after them right now. You cannot put off talent development with the way the labor market is right now. Why? People will be fighting for the best talent, keeping their top performers, and struggling to keep everyone engaged.

Even if you are starting right now, you’re late. Talent development is a game of chess, not checkers. The longer you play and the more you learn, the smarter your moves can be. However, everyone has to start somewhere, and there is always time. Trakstar has developed software to help you get ahead on talent development. We’ve pulled from best practices, discussions with HR leaders, and initiatives that have worked within our own company to build talent development software that attracts, retains, and engages talent.

Whether you’re focused on making smarter hiring decisions, improving your development programs, or encouraging accountability and performance reviews, we can help you

Your Goals Are Bigger Than Your Excuses

As HR leaders, you’re probably always talking about setting and reaching goals – but what about your own goals? Are you living up to the ideals you set for others? We set goals because we all need something to strive for and achieve. When you started thinking about talent development software and tools like applicant tracking, performance management, and learning and course development, you set some kind of goal for yourself – likely multiple goals surrounding each of those areas and more.

Stop sitting on the fence or putting off your own goals. If you want to do something, if you want to achieve something in your position, you’re going to have to make calculated decisions. One of those should be getting help in areas where you can.

What about the limitations that hold you back? A lot of those are mental blockages that don’t exist. Time, energy, and focus are all things that are limited, but you can use tools like talent development software to get them back. 

Show your employees that goals matter by taking actionable steps to achieve your own. 

Your Competition Has Talent Development Solutions

Who are you competing against? They probably have talent development solutions. Whether you go against bigger corporations with more perks while hiring, you’re facing competitors for the best salespeople, or you are simply competing against apathy and burnout, you need the proper weapons for the fight, or you will struggle.

Nearly 58% of businesses will use HR technology to fight for talent. Of those companies, almost 47% are using software that automates some part of the process so that leaders can focus on the elements that need a human touch – forming relationships, talking to people, and looking at the nuances.

It’s important to note that engagement starts from the top and works its way down: nearly 51% of managers are not actively engaged. They aren’t working to build better relationships with their employees, they aren’t monitoring their own performance, and they aren’t taking an active role in improving skill sets, hiring speeds, and overall company culture. 

People Want The Chance To Advance

A study from Glassdoor found that 53% of job applicants will look up company reviews and details when they are looking for jobs. They will use the information they find on these websites to make educated decisions about whether or not they will apply for jobs, accept jobs, or even answer emails for jobs they’ve already applied for. If you are experiencing candidate ghosting during the hiring process, you aren’t alone. Many companies with poor ratings on LinkedIn, Facebook, Glassdoor, and PayScale will encounter ghosting. We all face a few, but if you notice an increase, it could be because you have some bad reviews.

The most discouraging bad reviews are those about talent development and forward progression. People actively look for places where they can grow; if they don’t see them, they are likely to leave job offers on the table.

You Need To Put Some Action Into Your Goals

We all set goals at the start of the year, on the first of the month, and even on a Sunday night – but what are you actually doing to reach your goals? It doesn’t really matter if you say you have goals or even if you list them. You need to put some action into those goals.

It’s important to remember that you can’t just make goals and not put any action behind them. You need to take steps to achieve your goals, even if they feel “small” to you. If you keep setting goals but don’t have a plan to achieve them, you are just wasting your time.

Need Help Meeting Your Talent Development Goals? Trakstar Can Help!

Technology can be one of your best friends when it comes to talent development and all that comes with it. Investing in your talent doesn’t necessarily mean you need to do more work, it may just mean you need to do different things. Our system integrates with your existing talent development and HRIS to help you streamline everything you use to help your employees achieve their goals.

If you are ready to get started with a purpose-built talent development platform that incorporates an applicant tracking system, learning management system, performance management tools, and collects data, Trakstar is the only way to go. Click here to schedule a demo with a member of our team.

Don't Miss Out on More Great HR Articles!

Subscribe to get the latest, greatest HR and Talent Development content straight to your inbox.