Employees are the foundation of any organization’s success. When employees are engaged and productive, businesses are more likely to succeed. However, the more apathetic and disengaged they are, the more likely it is that organizations will face setbacks.
To ensure that organizations foster competent, engaged, and productive employees, it is necessary for them to identify the key skills required for the latter to reach their targets based on the requirements of their job, and then develop those skills to align with their objectives. To this end, competency management becomes crucial.
According to studies, the concept of competency lies at the heart of human resource (HR) management. Through competency management, organizations will have a basis for integrating key HR activities, such as selection and hiring, performance management, training and development, and reward management with their goals for success. This provides organizations an opportunity to optimize and improve their business outcomes through the expertise, skills, and of course, the competency of their workforce.
However, in a study conducted by Brandon Hall Group, it was shown that 64% of organizations have not yet developed programs that would define key competencies for critical job positions, to the detriment of their business outcomes. With this, we find it necessary to determine how competency management is crucial in augmenting business outcomes to encourage more organizations to develop their competency frameworks:
It Enhances the Skills of the Workforce
Improving the skills of employees is a crucial part for organizations to move forward in a fast-paced market. With the help of competency management, organizations will be able to measure the skill set of their workforce, optimize each of their employees’ strengths, and address their weaknesses. In the long run, this will enhance the skills of their workforce, resulting in higher job satisfaction and productivity.
It Optimizes Succession Planning
Succession planning is a necessary process in identifying the specific roles and skills required for critical job positions that become vacant. With a competency framework developed through exhaustive competency management, organizations will be able to channel and filter out candidates with the right qualities and the proper mindset. This enables them to spend lesser resources, such as time and money, on finding the right person for the right job. In the end, not only will they be able to ensure that critical positions are not left unattended for too long, but also fill vacancies with competent and qualified people that would continue, and better yet, improve, the performance of the predecessor.
It Improves the Quality of Services
Employees who are competent produce better results, and efficient organizations know that success depends on how capable their people are. With competency management, businesses will be able to recognize the training and approaches necessary to equip their employees with the necessary skills that would allow them to thrive in the workplace and deliver optimal work results that would leave a positive impression on the part of the market.
Augment Your Business Outcomes Better
Undeniably, competency management ultimately results in the augmentation and development of business outcomes for the success of organizations. To ensure that employees’ overall competencies are timely and efficiently managed, it is always best to engage the help of technology.
With this, software for human capital management in Dubai has been developed to assist organizations in making their competency management approaches more accurate. Through a cloud-based software that streamlines skill management processes, organizations will be able to manage competency variables and easily analyze skills gaps. This will allow them to timely ascertain training needs and recommendations for the improvement of their employees, and consequently, their performance as an organization.