Talent and Knowledge management have become extremely popular for worldwide organisations over the past few years and some people confuse them with the same meaning, which is absolutely wrong. They are used in separate contexts and are not interchangeable.
However, it is difficult to say which one of these terms is more important than the other. One can understand their significance after knowing the difference between these two terms.
Before going into the details, it is imperative to know the exact difference between the word talent and knowledge. After being clear on that, one can easily find the dissimilarities between talent and knowledge management as well.
When you talk about talent, it refers to an inherent ability possessed by an individual. The person can be related to any field like sports and education etc. Whenever you start building a team, you look for the most talented group of individuals, who don’t need much training and understand how to perform their tasks on a regular basis.
On the other hand, knowledge is also quite important to polish the talented individuals. It is something which one continues to gain with the passage of time. If a person has some special talent, he/she can easily be trained to perform even the most difficult of tasks.
However, the importance of gaining knowledge is a bit more than possessing talent, as the former can transform an ordinary person into a special human being.
When you speak about talent and knowledge management, it is clear that you have to use these concepts to improve the efficiency and effectiveness at your workplace.
First of all, an organisation has to manage talent by conducting interviews and hiring the right individuals for the job. This is not an easy process and the company needs to set some standards to locate the best talent available in the market.
On the other hand, knowledge management has nothing to do with hiring, as it comes into play after that process. The organisation needs to pass on some key information to the employees in order to take the company to the next level. This process of educating the individuals in the organisation is known as knowledge management.