All companies realize the importance of nurturing a talented workforce. With it, everything is possible—the sky is the limit! Without it, you can count on numerous unsuccessful strategic efforts—one after another. Among the wide range of organizational processes related to retaining high-performing employees, corporate competencies have become a focal point, helping successful organizations understand where to focus resources such as incentives, coaching, and training programs. By clearly identifying the right competencies, organizations can make sure they are recruiting and managing talented people in the most strategic way, putting the right people in the right jobs with the abilities to perform at their maximum potential every day.
In organizations utilizing best practices, a small set of core leadership and values-based competencies are established across the organization. These competencies are broadly applied to all employees and send a powerful message, reflecting the company’s culture, business strategy, expectations and unique market dynamics.
Measuring competency gaps within your organization and addressing them proactively allows you to focus on the areas you need most to impact your business performance, employee engagement and retention, and overall profitability.