Competency Management: Creating a High-Performance and Adaptive Workforce
Increasingly, organizations are looking to raise the bar for performance, accelerate the development of leaders and ensure employees can implement new work processes and drive continuous innovation and change. Organizations need a way to clarify new standards and expectations, better align individual behavior and business strategies, and help employees take charge of their own development. The successful development and implementation of a Competency Management Program allows organizations to achieve these objectives.
The Role of Competency Management
Competency Management is a systematic approach for aligning individual performance to business strategy and goals. This process allows an organization to develop core and functional competencies that allow it to compete now and in the future. Competencies are at the center of an effective talent management initiative. They enable employers to focus workforce planning on critical initiatives, such as training and development, career pathing, skills inventory and assessment, succession planning, performance management, recruiting, risk analysis, resource allocation and compensation.