If you haven’t noticed, there is a major shift away from traditional performance management (looking back) to new growth mindset approaches for looking forward. And the elimination of the performance appraisal is the best thing that ever happened to competency models! Why? Because now they can be used for professional development without implication.
If you are assessing yourself against a competency model in a performance management system, like it or no, it can be "used against you" for keeping score. Therefore, it is human nature to inflate your assessment given that the data is co-mingled in a system used for pay and promotion, resulting in a development plan that is not representative of what you need, and won't help you close your gaps.
When performance appraisals are replaced with regular real-time coaching and feedback, competency models can be used in a safe environment, without bias, to accurately assess skills and identify competency-based learning for closing any gaps. They make it easier for managers to coach. They drive agility – change in strategy and priorities can be quickly communicated and supported. The more regularly competency models are used, the greater the likelihood that there are clear expectations, and regular progress being made for skill development and career planning.