Talent DevelopmentOrganizations have been affected by the recent economic downturn. Consumers have been negatively affected, which ultimately affects organizations. People are clinging to their money more than ever. They don’t spend as much, which leads to lower profits for organizations. Nonprofits are suffering from budget cuts that also negatively affect them. Due to the weak economy, talent development has become more important. “Leadership development has become increasingly important and is an emerging trend in organizations in response to the increasing competitiveness of organizations” (Tonvongva, 2013, p 36). More and more organizations are deciding to train and develop their employees. Internal employee development eliminates or diminishes the need to hire external candidates. Talent development can save the organization money and boost morale. There are two types of interventions used to develop talents: these interventions are career development intervention and leadership development intervention. Career Development Intervention Career development intervention is designed to “help recruit and retain qualified and competent workers” (Cummings, 2009). Career development intervention helps people within an organization plan their career goals. Career planning is also involved in career development intervention. Career planning is basically creating an overview or map of the direction the employee wants to go. It is tailored specifically to that person. This is determined by that person’s interests, values, and abilities. The development part of the career development intervention involves developing an action plan to achieve the career goals set in the middle of the document......which are the leadership development intervention and the leadership development intervention. career development. Career development intervention develops the knowledge and skills that employees believe are ideal for their desired career path. The leadership development intervention focuses on the skills and knowledge that the organization will need to manage and make decisions in the future. However, they are both designed to help employees gain knowledge and advance in their careers. Works CitedCummings, TG and Worley, CG (2009). Organizational Development and Change (9th ed.). Australia: South-Western/Cengage Learning. Tonvongva, S. (2013). IMPACT OF TRANSFORMATIONAL LEADERSHIP DEVELOPMENT THROUGH AN ORGANIZATION DEVELOPMENT INTERVENTION ON EMPLOYEE ENGAGEMENT AND COMPANY PERFORMANCE: A CASE STUDY. Social Research Reports, 25, p 34-49. Retrieved April 1, 2014 from the SocINDEX database.