Human capital is the most important resource for any organisation in the globalised and skill based economies around the world. How the organisation leverages this resource will ultimately decide if it can achieve its strategic objectives. It is imperative for any organisation to align the employee behaviors to the strategic objectives for sustained success.
Competency based Human Resource Management is being increasingly recognized as an effective way of talent management over the previously adopted Job-description related approach.
It involves a transition from the traditional way of managing human resources based on what people have (e.g. qualifications) to what people can do (performance). The advantages of using the competency based framework for Human Resource sub-systems such as Selection, Promotion, Training and Development, Performance Management, Career and Succession Planning, Compensation, etc. are: -
Competency-based models help in the organization to :
- Drive business results
- Retain key talent
- Raise the bar" of individual and organizational performance
- Integrate cultures following a merger
- Increase in competitive advantage
Competency based Human Resource Management is being increasingly recognized as an effective way of talent management over the previously adopted Job-description related approach.
It involves a transition from the traditional way of managing human resources based on what people have (e.g. qualifications) to what people can do (performance). The advantages of using the competency based framework for Human Resource sub-systems such as Selection, Promotion, Training and Development, Performance Management, Career and Succession Planning, Compensation, etc. are: -
Competency-based models help in the organization to :
- Drive business results
- Retain key talent
- Raise the bar" of individual and organizational performance
- Integrate cultures following a merger
- Increase in competitive advantage
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