Competency-based assessments help you to create a better organization by helping you to recruit and retain key talents in your organization.
Here are 5 key features of competency-based assessments that create a better organization.
There are relatively few search firms and recruiting agencies that have the expertise to handle the volatile labour markets in low-income countries. The high-quality firms (most of them now cannibalized by MNC HR solutions firms) that do exist focus on C-level searches.
But do they also believe Competency creates better Recruitment Solutions?
1. Competency-based assessments help you to recruit and retain key talents in your organization as they ensure best possible job-fit:
Despite large populations in emerging economies, MNC companies have trouble recruiting managers and other skilled workers because the quality of talent is hard to ascertain. Most of them are not competent enough to stick to any Company for a longer period – say an average of 7-8 years.
Competency-based assessments create better Recruitment Solutions which ensures job-match between employees and job. The result is less turnover and better profits.
2. Competency-based assessments help you to retain key talents in your organization by funnelling top talents:
Competency-based human resource practice – a basic thing that we forget to follow and practice out of pressure; weeds out non-performing employees and helps Human Resource Managers like you to prune employees who might be on the verge of out-growing your job description that you provided them at the time of on-boarding.
3. Competency-based assessments help you to recruit and retain key talents in your organization as they facilitate better performance management:
Performance management has emerged as one of the greatest new interests in HR associations today. It is found that more than 45 percent of HR managers rate “change of their Performance Management forms” as one of their focuses.
Competency-based assessments and surveys help you to build a competency focused approach to performance management. It gives you the opportunity to create a holistic employee development tool for better talent management.
4. Competency-based assessments help you to build a competent organization:
Economies have changed, Business era have changed and as well as environmental imperatives. But one thing has remained constantly important.
Competency remains the core of any successful activity or human performance as well as organizational development.
Any organization which aims for development must create a conceptual competency framework of HRD strategy. They must understand Importance of Competency-based assessments in Organizational Development.
Embracing competency-based assessments is the first step in building a competent organization. An organization can only become competent if it has a constant supply of fresh talents and an ability to retain them for a long time.
5. Competency-based assessments create a competitive advantage for any firm by enabling you to recruit and retain key talents in your organization:
The competitive advantage of any firm in any Industry is something which can be either explicit or implicit.
It may have achieved through an impeccable planning process or it may have been achieved through trial or error learning from the activities of various departments of any company who is in quest of excellence. Either way, it underlines the Importance of Competency in Organizational Development.
Small businesses struggle a lot more than larger businesses when it comes to employing people right people for jobs. Competency-based assessments help you to recruit and retain key talents in your organization. This ensures better job match. And better job-match creates a bunch of talented employees who deliver better performance than rival companies.
Sayak takes care of both recruitments and assessment projects of The HR Monks team. He loves helping people finding their dream job.
He started his journey in career leaving the shores of Waiting for Godot and found The HR Monks a better place, where he can change the lives of people by helping them achieve their dreams.
He has been to quite a fewer place across India and loves to travel. He loves two books, in particular, one Siddhartha by Herman Hesse and the other The Shift by Dr. Wayne Dyer.