Competency Mapping

Term Paper on Designing Competency Based performance Management System

[Year]

Riya Garg, 14310

Designing Competency Based Performance Management System

Introduction:

Globalization, individualization, digitalization and increasing competition are changing the face of the industry. The present business environment of cut throat competition and globalization has emphasized the development and application of the term competency, particularly the important role it plays in improving job performance, which in turn achieves heightened organizational competitiveness (Velde, 2001; Cardy & Selvarajan, 2006). Facing new challenges, it is necessary to reevaluate what set of knowledge, skills, and attitudes that a professional needs in order to succeed in the rapidly changing global economy. Increasing the competitiveness of an enterprise’s workforce represents increasing its opportunities to be successful.

The present business environment of cut throat competition and globalization has encouraged competency based practices rather than contemporary organizations. The basic fundament behind it is to achieve an optimum performance in the long term by developing the skills and competencies of the employees on a continuous basis. Today, it is crucial for every organization to retain competent employee as success depends not only on how the organizations makes the most of human competencies rather also how it stimulates commitment to an organization. Employee commitment, together with a competent workforce, seems to be of decisive importance for an organization to be able to compete in quality and to go along with changes.

A competency-based performance management system is a dignified way of setting up the skills and behaviors that employees need to be successful in their present roles and for future growth in their organizations (Martone, 2003). Competencies enable an organization to integrate strategic HR and business plans into one seamless overarching strategy...