Competencies are akin to the DNA for an organization’s success. It spells out the necessary leadership & workforce knowledge, skills and behavioural traits needed to achieve desired objectives. Too often, competencies are incorrectly mapped, resulting in poorly designed performance management systems and allocation of resources in the wrong areas.
- Competencies measured are not critical to generating required results & performance.
- Lack of clarity on required competencies leading to hiring mistakes.
- Mismatch of rewards vis-à-vis competencies measured.
A properly developed competency framework plays a crucial role in guiding the performance of the employees and is a key pillar for other talent management initiatives including recruitment, retention and reward strategies.