How often should competency models be reviewed and updated?
In a recent webinar, I was asked, “How often should competency models be reviewed and updated?”
Have a rhythm for periodically re-examining the model for changes. Maybe 2x/year, or after a merger or acquisition, or product launch. Much like the process for customizing behaviors in your model, we recommend sending out the model in a Word document (track changes on) to 4 - 6 high performers, and a manager of people in that role. Give them a few days to review and edit. Consolidate edits and conduct a 1-2 hour virtual workshop to discuss and finalize updates. Then make the updates within the competency assessment tool immediately.