Competency is the combination of observable and measurable attributes that contribute to enhanced employee performance. The components of competencies include personal attributes, knowledge, abilities, and skills. These competencies of the workforce play a key role in driving an organization’s success.
Competencies are broadly classified into these 4 categories:
1. Core Competencies -The skills and abilities used by an individual to gain competitive advantages are their core competencies.
2. Leadership Competencies -Leadership competencies are the leadership skills and behaviors that are required for superior performance.
3. Technical Competencies -Technical competencies are the technical abilities and knowledge required to apply on any technical job.
4. Behavioural Competencies -Behavioural competencies are any behaviours, attitudes, or personal traits that improve an individual’s performance.
A competency model is a collection of defined skills, knowledge, and abilities required for an employee to perform their job successfully. It is used by the HR department of an organization to screen and evaluate candidates during recruitment.
Competency-based pay refers to a salary structure where employees are paid on the basis of their skills, knowledge, and abilities, rather than their job position or title. It encourages employees to reach the pay rate they want by improving their skills and work.
There are many competency models out there, but according to research done, here are the 4 best competency models to understand employees' performance:
Competency Mapping is the process of evaluating the skills, abilities, knowledge, and behavior required for a job position. Companies often begin this process by determining their goals and analyzing the abilities of the existing employees.
Skills are specific abilities that an employee can learn to get and perform a job well, for example - Painting, handling accounts, and cooking. On the other hand, competencies are the behaviours and knowledge that directly lead an employee to success in their job, for example - negotiating, strategic planning, and problem-solving.
Let your HR and workforce focus on most important business decisions while factoHR can reduce the burden of daily activities of the organization.
Note: It has come to our attention that fraudulent individuals are falsely posing as representatives of factoHR and offering fake job openings. Please be advised that factoHR does not offer any part-time or work-from-home task-based job opportunities. Our official communications are solely conducted through the @factohr.com domain. We do not engage on social media platforms like WhatsApp, Facebook, Telegram, Instagram, or public domain emails such as Gmail, Outlook, or Hotmail for official communication. Please note that we never ask for any payment in exchange for employment. Your safety is our priority, so kindly avoid sharing sensitive information through any communication channel. Stay vigilant, secure, and safe.