According to McKinsey & Company, the coronavirus pandemic has made the question about how to close current and anticipated skill gaps more urgent.
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“What gets measured gets done.” In essence, this expression means that if you don’t set some metrics for what you want to accomplish, and actually track and hold people accountable for those metrics, nothing will happen.
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Competency models describe what someone in a particular role should be able to do to perform their part of corporate strategy. That enables each person to implement/execute those tasks to achieve that strategy.
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The solution is to create a culture of learning now, when there is time to do something about the skill gap problem before it’s too late. Leaders have to understand that the cost of doing nothing is too great.
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Very simply, a competency model describes what it looks like to be great in each role. It defines the skills and the knowledge required to execute their part of corporate strategy.
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SkillDirector also provides 70 skill practices that people can use to learn while they work. Experiential learning is required to develop Skills of the Future, which are the biggest and most critical skill gaps for organizations.
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If you have a culture of learning that changes from role-based learning to personalized learning, so people do only what they need, and 50% of the people don’t need to attend the mandatory requirements, you would add 15 hours of productivity per person at a cost of $626/employee for the 50% who didn’t need it.
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Competency models (also known as capability frameworks) identify what the organization needs people in a particular role to do in order for the organization to succeed and create competitive advantage. That’s important to leadership.
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