The key to competitiveness today is the company’s ability to manage and develop the knowledge and skills of their people using competency management system. If David McClelland were alive today,
he would be pleased to see remnants of his motivational needs theory as a recognized function of corporate HR, Training and Education departments. A pioneer in workplace motivational thinking, McClelland once argued that competency-based assessments and tests are better than traditional IQ and personality-based tests. He believed testing for competence is the best predictor for successful job performance. Would McClelland be pleased to see corporations spending more time and money on human capital? You bet he would.
If your organization is beginning to understand that Competency Management System is central to workforce development, then it’s time to take the steps to create the foundation that will lead to better staffing practices, targeted learning initiatives, focused individual development plans, disaster planning, improved project teams, succession planning, and every other workforce management activity from hire to retire.
If you need help getting started, contact your Gyrus representative (www.gyrus.com). We can help.
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“Defining Human Capital Management”
A competency management system software is a comprehensive and multi-dimensional approach to improve the competencies and abilities of the employees while at the same time, tracking and analyzing their progress. The wide range of inbuilt tools and features makes competency management super easy for organizations.
A competency management software allows organizations and top-level management to realize the potential and capabilities of their workforce. They can assess, monitor, analyze, and track the skills and competencies of all employees. Let’s look at the benefits in detail:
The in-built LMS or Learning Management System offers learning and training support. One of the greatest strengths of an organization is a well-trained and competent workforce. Through competency management software, the management can find the skills and weaknesses of employees. The learning system allows them to enhance their skills and abilities. The online certification gives them professional credibility and opens doors to new opportunities. LMS is carefully built to measure and recognize the true potential of every employee and bridges the skill gap.
A competency management system software assesses, tracks, and records the progress and performance of each employee. It helps in identifying their key skills, strengths, and weaknesses. Such statistics help in understanding the levels of each employee and track their overall performance. This makes it easier for the management to identify under-performing and well-performing employees and those who struggle with behavioural crisis.
As mentioned earlier, competency management software helps in maintaining the performance records of each employee. This helps companies in succession planning- a process in which potential employees are recognized for specific roles in case of a job opening. This helps organizations to identify the hidden talent in the company, offer opportunities to able individuals, and reduce the hiring costs. Moreover, the data also helps in developing future succession plans.
Every employee wants to move forward- a professional environment where they can learn, grow, and utilize their skills to maximum potential. A competency management software helps organizations to provide a positive environment to employees The reports help them to offer regular feedback. LMS helps in strengthening and learning new things. All this helps them to improve productivity and grow. This increases their ability to engage with the team, keeps the employees satisfied, and helps organizations in employee retention. This further reduces hiring costs and building a strong workforce.
Competency management software is a cost-effective solution for organizations. It eliminates expenses that a company might incur in hosting training sessions, seminars, printing study materials, hiring human resources for managing employee performance records, and other external factors. LMS can be used over and over again for years to train new employees. In case a company wants to add or modify any details, it can be easily done and can be quickly made available to all without hindering daily operations. The data helps in getting valuable insights into the organization’s day-to-day operations. Not only this, it helps assess the overall weaknesses, the underlying incompetency within the team, and resolve such issues.
A competency management software can help the employees to clearly understand their role in the organization- what are the expectations and what are their responsibilities. This brings more openness to the team and helps them make better and informed decisions. The clarity about their role motivates them to work efficiently and perform better.
With well-learned and trained employees, the overall efficiency and productivity of the organization increase multi-folds. They are dedicated to offering the best services to customers and clients. They know how to handle situations and find the best possible situation. This leads to successful results. The quality services further help the organization to build trust with clients and develop long-term relationships.
A competency management software can lead to a Win-Win-Win situation for employers, employees, and clients. All are happy. For employers, competency management software helps in building a strong, skilled, and productive workforce. Employees get opportunities to improve their skills and make advancements in their careers. Clients get improved services.
If you're convinced and want to implement competency management system software in your organization, and then look no further, you have landed in the right place.
The user interface is meticulously developed so that learners and managers can all access the platform easily. The LMS has integrated tools to make learning easier and convenient. The users can easily access, navigate, interact, and perceive information.
Regular assessment and evaluation helps in the retention of important information and tracks the progress of employees and teams.
The software allows the team to create a variety of certificates such as Certificate of Completion, Certificate of Achievement, etc. Such small rewards instill a sense of accomplishment and boost employee's morale encouraging them to work harder.
The competency management software developed by Gyrus is equipped with carefully selected metrics, which helps in spotting the underlying issues quickly. This allows eliminating repetitive mistakes and mitigating risks at an early stage.
Regular feedback encourages employees to recognize their shortcomings. To improve efficiency and productivity, every employee must get valuable feedback that helps them learn and grow.