Performance and Competency Management

In light of the global competitiveness, with advancing technology, changing demographics, and global talent wars, preparing for the 2020 workforce is critical to business strategy, growth, and performance. In order to effectively manage human capital performance and competency management system serves as a vital tool towards the improvement of the overall organizational effectiveness to ensure the achievement of the overall organizational visions and goals.

Performance and Competency management is about translating goals into results. It focuses not only on individual employees, but also on teams, programs, processes and the organization as a whole. A well developed performance and competence management program addresses individual and organizational performance matters necessary to properly create and sustain a healthy and effective results-oriented culture thereby helping organizations raise individual performance, foster ongoing employee and leadership development.

The aim of the module is to align an organization’s goals, set company performance standards, and measure employee progress in pursuit of these goals. It includes functionality for managers to provide feedback to employees through performance reviews, and set compensation and merit bonuses based on custom rules. It defines the training requirements of the employees based on the results of the reviews and diagnosis of the individual and organizational competencies.

An automated performance and competency management process serves as an important tool for realizing organizational goals by implementing competitive organizational human capital strategies. It helps in aligning and integrating the objectives with the KPI’s in an organization both vertically and horizontally across all job categories and the levels and thus helps in driving all the activities right from the bottom level towards one single goal. It provides valuable data thereby helping organizations to identify training and development plans based on their competencies. It provides organizational planning functionality, so managers can ensure they have the right skill sets in their talent pool and plan for their employees’ career paths and succession.

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