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Technology, globalisation and an increasingly diverse workforce has created an environment where change is the only constant. Businesses are now forced to get ahead of such disruptions or be left behind. Unfortunately, we often see the latter due to how subtle disruptions can creep up. Increasing your organisation’s ability to compete is thus crucial in this day and age – and competency frameworks may just be the edge you need.
Research has shown that organisations using core competencies enjoy greater profitability, customer satisfaction levels, and customer retention than other organisations. They also provide a greater sense of autonomy, empowerment, focus and pride that employees develop as a result of better, clearer understanding of their role and their potential within an organisation. Furthermore, it gives the whole workplace – HR, managers, employees and senior leadership – a shared language for discussing and understanding workplace requirements and performance.
But let’s take a step back, what is a competency exactly?
A competency is an underlying characteristic of an individual, which can be shown to predict superior to effective performance in a job; and indicates a way of behaving or thinking, generalising across situations, and enduring for a reasonably long period of time. Based on your organisation’s culture and values, a set of competencies can then be developed into a framework to reflect the essential ‘substances’ needed to carry out the organisation’s vision, mission and strategy. Robust & future-oriented competency frameworks will then help drive a high performance culture.
The best thing? A competency-based approach will help in a variety of people-oriented initiatives that will drive your attraction, retention and motivation strategies.
How can we start our competency journey?
It will be a tough journey, especially because it can be extremely time-consuming and technically challenging to develop a robust competency framework. That’s where we can help you overcome this major competency modelling hurdle to get your organisation future-ready!
DecodeHR has teamed up with IBM to augment human capital solutions with truly intelligent technology. We will be able to help you in modelling competencies that enable your organisation to identify the skills, knowledge and behaviours, and developing a roadmap that will enable future-oriented capability building for the long term success of your people and organisation.
Here at DecodeHR, we are all about accelerating your people edge. Contact us to find out more on how we can help transform your human capital solutions!