Final answer:
Formal education in employee development includes training programs and degree programs, but not on-the-job learning, which is informal education.
Step-by-step explanation:
Formal education as an approach to employee development includes several components aimed at enhancing an employee's skills and knowledge. Specifically, it can encompass training programs, such as orientation training and job-specific instruction, and also degree programs that may be pursued at colleges and universities.
However, on-the-job learning is typically characterized as informal education, as it is less structured and occurs through day-to-day tasks rather than a formal curriculum. Thus, when considering formal education for employee development, the correct options would be training programs and degree programs, not on-the-job learning.