One of the most significant hurdles in talent management is maintaining the overall competency of the workforce. The individuals who are highly skilled workers are available only at premium packages, and an even bigger problem is retaining talent in the existing workforce, which is, admittedly, a lot more difficult than it sounds, particularly when new opportunities continue to arise in every industry. There is a matter of having to constantly adapt to the idea that a workforce may now consist of workers from five different generations, and each generation with different needs and priorities. Finding common ground is often a matter of trial and error as every organization must ensure the harmonious functioning of their business. Efficiency alongside venture-wide talent strategies depend upon automation, and employee expectations to interact in a holistic work experience requires deep insight into pre- existing and requisite worker capability.
There are options to improve employee capabilities, including learning and development which is integral to having an effective workforce. These development solutions must perform certain core functions such as aligning the employee with organizational goals, host experience-building opportunities, be firmly aligned with business critical competencies, and display a specialization in the same. Competency assessment, therefore, is the pulse of performance improvement—at the individual and organizational levels.
Competency management is a vital part of business for around 40 years now. It is indispensable to hiring, promotion, mobility, etc. and thus core to effective management of human capital. To this end, let us understand some of the concepts involved with competency assessment. Competencies refer to the abilities, knowledge, skillsets and behaviors that contribute towards making an employee one that is effective. Some common competencies are analytical thinking, communication, flexibility, integrity, and teamwork. A competency model is a group of core competencies, ideally seven to 10, carefully chosen in alignment with an organization’s business goals. A competency proficiency scale is a defined metric or measurement that assigns an expected degree of competence on a given competency. Leading practice scales have behavioral indicators as their building blocks with related behaviors organized under each competency. Competency management is the group of managing practices that identify and improve the skills and competencies required to deliver on an organization’s business strategy.
Here are some of the key challenges faced in competency management-
That being said there are several benefits for having a clear emphasis on competency assessment. Automated competency management creates a real-time and predictive inventory of the capability of any workforce. Here are some of the benefits of performance development oriented organizations-