Making the Case for Competency-based Career Planning & Development

Part 1 of 11 of the CompetencyCore^TM Guide to Career Planning & Development 

This is the first in an eleven part series that looks at:

1. Making the Case for Competency-based Career Planning & Development
2. Facts, Figures & Findings
3. Career Planning & Development Defined
4. Key Definitions of Career Planning & Development
5. Framework for Competency-based Career Planning & Development
6. Best Practice Tools & Processes
7. Implementing Career Planning & Development – Part 1
8. Implementing Career Planning & Development – Part 2
9. Implementing Career Planning & Development – Part 3
10. Key Considerations for Software, Part 1
11. Key Considerations for Software, Part 2

Most economies around the world are experiencing an accelerated demand for qualified workers.  As a result, organizations are realizing the importance of putting programs and initiatives in place to attract well-qualified workers and retain them once they have been hired.  These trends underscore the importance of career development programs aimed at preparing employees for taking on increased responsibilities within their organizations.

By adopting a competency-based approach to talent management, the job competency profiles can be identified for the various jobs and levels within an organization. It now becomes possible for employees to understand the competency requirements for lateral movement and advancement along a chosen career path.  This greatly facilitates a sense of empowerment and engagement among employees, as they have a better understanding of what it will take to advance in their careers and how to set plans to achieve their goals.  Employees, therefore, are more likely to stay with the organization longer, increasing retention rates and reducing turnover costs.  Conversely, employees who cannot see a career path within their organization are more likely to leave for other organizations offering more opportunities for career growth.

From an organizational perspective, it makes sense to design and implement tools and processes to support Career Development.  It encourages staff to develop themselves in line with organizational needs, providing a pool of qualified and motivated employees who are willing and interested in filling jobs and roles as they become vacant.  Programs and initiatives that support career development benefit organizations both in terms of attracting high potential and qualified applicants as well as retaining and motivating employees once they are part of the organization.  The cost of replacing employees after the organization has invested heavily in their development is high.  There is the loss of training and development funds invested in the departing employee, as well as the redundant costs associated with developing a replacement.  Beyond this, there is a loss of corporate knowledge as employees leave, not to mention the negative impact on the employer’s reputation and brand in the market place.

The bottom line is that it makes good business sense to implement effective Career Planning & Development programs, and a competency-based approach helps you do this more effectively.

About this Series

This series:

• Explores some interesting facts, figures and findings about Career Development;
• Provides definitions and key information related to Competency-based Career Planning & Development;
• Discusses how competencies support more effective Career Planning & Development
• Reviews some key requirements for making a Competency-based approach towards Career Planning & Development work effectively;
• Explores some best practice tools and processes to enhance career planning and development; and
• Reviews recommended stages and steps for implementing a Competency-based Career Planning & Development initiative.

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The next blog in this series examines facts, figures and findings in Competency-based Career Planning & Development. Sign up to our blog’s mailing list through the form on the right-hand side to receive the rest of the series in your inbox.

HRSG is a leader in Competency-based Career Planning and Development solutions. Contact us today to find out how we can help you.

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Want to learn more? Competency-based Talent Management, or CbTM, is the best practice for defining job requirements and building effective HR programs to develop skilled, engaged and productive workforces. Download this Best Practice Guide to learn how competencies can increase workforce effectiveness and improve business practices.