Competency Management: The Essentials for Better Business Results

Competency Management: The Essentials for Better Business Results
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    Today’s organizations, regardless of industry, face enormous challenges. Skilled talent is at a premium, while retaining top talent continues to be a losing game for most. Organizations are struggling to understand the complexities of five-generation workforces and the nuances of each generation.

    A central element amping up employee capability is learning and development that yields a highly capable and agile workforce that can flex with changing business goals. Development solutions must:

    • Align with organizational business goals.
    • Drive experience-building opportunities.
    • Be linked to other talent processes.
    • Be tightly aligned with mission critical competencies – those that drive achievement of business goals.

    Competency management, therefore, is the pulse of performance improvement – at the individual and organizational levels -- and a central tenet of workforce planning, learning and development, and talent management.

    This industry perspective, based jointly on Brandon Hall Group’s 2016 State of Talent Management and 2015 State of Employment Value Proposition studies, reviews key research findings that reveal three essentials of effective competency management:

    • Understand what competency management is and the stakeholders who rely on Competencies.
    • Understand the challenges and benefits of competencies.
    • Understand competency model implementation and the business value of Competencies.

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