I just read Dan Pink's Wired Magazine article about the Best Workday Ever and 3 of his 5 crucial lessons struck a cord.

1) Make progress:  Relentlessly gather feedback on how you’re progressing and celebrate progress at every turn.

This is what the Self-Directed Learning Engine (SDLE) is designed to do.  Help each person assess and celebrate progress on their own schedule.

2) Make it your own:  the happiest people customize their jobs to better fit their motives, strengths, and passions.

This is what the SDLE empowers.  You choose what you want to do to develop.  You shape your career path.  You guide your manager to an understanding of how to help you follow your passion.

3) Make it matter:  The best way to achieve success for yourself is to have selfless motives. In other words, ask not what your job can do for you but what you can do with your job.

A competency model defines what your organization needs you to do in your job.  People are intrinsically motivated to achieve competence.  So if you know what is needed from your job, and you can compare yourself to those expectations, you can take action to close any gaps and make what you do matter.  And that will make you feel good!