6 Advantages of Competency Management Software
Continuous training is important when building a competitive workforce, but companies must also make sure that the skills being taught are truly being developed. Training should improve the overall skill level of individuals and the organization. Rather than simply assigning training, a company can better identify skill development and areas of weakness by utilizing competency management software. Organizations become more efficient when they know exactly what skills their employees are competent in.
Competency assessments are an important part of competency management since companies can discover if training has been effective. This is especially true for high-risk industries like mining, construction, and energy where skills are fundamental for safety. Lack of a critical skill can cause major accidents in these sectors, threatening the health and lives of workers.
Competency Management Software is a powerful tool, which can help assess and optimize the skills for each role at your company. This is useful when a human resources department is trying to fill a position, or when planning courses for current employees. The competency software can be used to help managers and supervisors identify when additional training is required for each individual employee.
Here are 6 advantages of integrating Competency Management Software into your company…
1) Helps Identify Gaps
Hiring and training alone does not guarantee that a company will have the optimal skills for each position. For example, if a company requires a specific competency, one employee may have closely related abilities, while another may have the exact skill but at a beginner level. Only a competency assessment can determine which employees have a suitable skill set to safely complete the job. Managers must ensure that employees do not view competency assessments as “filters” that will threaten their job. Instead, evaluations should be a tool to optimize the career path of each employee. Since they provide a snapshot of current skills, assessments can be used to customize training for each team member. Competency management focuses on giving employees the necessary skills to perform their jobs efficiently and safely. The entire organization benefits; workplaces become safer, and the efficiency boost can increase profits.
2) Can Improve Employee Retention
According to the 2018 Workplace Learning Report from Linkedin, 94% of employees would stay longer with a company that invests in their career. Also, the 2019 edition reported that 75% of employees would take a course suggested by managers. Competency management not only improves the skill set of an organization; it is also a strategy for companies to attract and retain the best employees. Top talent is scarce: in a survey by PwC Canada, 74% of CEOs answered that they are concerned about the availability of important skills. Retention is key when a company hires talented employees, and continuous training is one way to build loyalty.
3) Supports Internal Growth
Competency management software can keep track of individual skills and successes, similar to how many video games describe your character with statistics and achievements. This way, companies can plan the ideal career path for each employee, and this includes the preparation of future leaders. Instead of hiring external employees to fill key positions, companies can groom their own managers with ideal skill sets. Competency management software is very useful when developing talent as it can keep track of courses taken, and how individual competencies develop over time. This is especially true in large organizations, where keeping individual records of each employee without the software would not be feasible.
4) Can Help Improve Decision Making
A competency management system allows better decisions in terms of human resources. Each responsibility can be assigned to the most competent person, and corrective actions can be taken more effectively. Competency management is useful for matrix organizations, where employees have specific roles, but also participate in temporary project teams. When managers have a clear snapshot of individual skills, they can create the best possible team for each project.
5) Creates a Safer Environment
The consequences of a human mistake vary depending on the industry and job position. However, errors can cause serious accidents in business sectors like mining, manufacturing, construction and energy. A competency management system improves efficiency and workplace safety. When a company needs to assign a responsibility that involves high risks, competency assessment is critical. Ongoing training and testing are necessary even when an employee demonstrates the skill to finish a dangerous task without accidents. New technologies with industrial applications are constantly being developed, and companies must ensure that their workers use them safely.
6) Improves Customer Satisfaction
Skilled employees can do their job more efficiently and provide better customer service. Adequate training improves and expands competencies, and collaborators can meet a wider range of customer needs. More people will trust and want to build a business relationship with you if they know the quality of work is high. Competency management can provide a significant ROI in this respect.
Considering the annual cost of human resources, companies should ensure that employees have the right competencies for each job. A competency management system also provides additional data for management decisions and makes workplaces safer. The risk of accidents due to human error is reduced when an organization is composed of highly-trained individuals. Investing in competency management software can be extremely beneficial for companies of all sizes and will help keep your employees safe.
