What are the benefits of implementing a competency-based approach to developing professionals ?
• Reinforce corporate strategy, culture, and vision. • Establish expectations for performance excellence, resulting in a systematic approach to professional development, improved job satisfaction, and better employee retention. • Increase the effectiveness of training and professional development programs by linking them to the success criteria (i.e., behavioral standards of excellence). • Provide data on development needs that emerge from group and/or organizational composites that are an outcome of multi-rater assessments. • Provide a common framework and language for discussing how to implement and communicate key strategies. • Provide a common understanding of the scope and requirements of a specific role • Provide common, organization-wide standards for career levels that enable employees to move across business boundaries.
For The Company, competency-based practices: a. Reinforce corporate strategy, culture, and vision. b. Establish expectations for performance excellence, resulting in a systematic approach to professional development, improved job satisfaction, and better employee retention. c. Increase the effectiveness of training and professional development programs by linking them to the success criteria (i.e., behavioral standards of excellence). d. Provide data on development needs that emerge from group and/or organizational composites that are an outcome of multi-rater assessments. e. Provide a common framework and language for discussing how to implement and communicate key strategies. f. Provide a common understanding of the scope and requirements of a specific role g.
For the Associates, competency-based practices: Identify the success criteria (i.e., behavioral standards of performance excellence) required to be successful in their role. Provide a more specific and objective assessment of their strengths and specify targeted areas for professional development. • Provide development tools and methods for enhancing their skills. Provide the basis for a more objective dialogue with their manager or team about performance, development, and career related issues. For The Company, competency-based practices: • Reinforce corporate strategy, culture, and vision. • Establish expectations for performance excellence, resulting in a systematic approach to professional development, improved job satisfaction, and better employee retention. • Increase the effectiveness of training and professional development programs by linking them to the success criteria (i.e., behavioral standards of excellence). • Provide data on development needs that emerge from group and/
