“Developing your employees’ skills at a rate equivalent to the rate of changes is the key to a sustainable competitive advantage. We need people who have the latest skills and who build new ones quickly”
– The Expertise Economy
No Competency Model is a strategy gap
Competency models identify what the organization needs people in a particular role to do in order for the organization to succeed and create competitive advantage.
If you don’t know what people need to be able to do, how can you be sure you can execute strategy? If they don’t know what they should do, how can they hold up their end?
According to an ATD survey on Bridging the Skill Gaps, 75% say that the skills gap affects their organization’s service delivery, customers, or future growth.
Not only do you need role-based competency models, but you need to be sure they change. 52% believe their skills gap exists because the abilities of the current workforce do not match changes in company strategy, goals, markets, or business models.