Competency models are defined as blueprints of what an organization seeks from its workforce, based on its top-level objectives. As a result, competency models are typically used as a hiring tool to find those employees who meet the exact criteria set forth by the employer: culture fit, soft skills, abilities, interests, etc.
Yet, it appears that the roles have changed, and employers must now adapt to the expectations, styles and demands of new generations. More specifically, Millennials are known to demand a better work-life balance, as well as greater flexibility and diversity in their role. The benefits of this new reality can be argued at length, but what’s important for employers to understand is that Millennials are not afraid to move on to bigger and better things if they are not entirely pleased with your offer and current work conditions. In fact, 60% of Millennials leave their companies within three years of hire, at a cost of $20,000 per person for the organization.
This prompts the following question: Should an organization adapt to the output potential of its workforce, or should it focus on seeking only those employees who can deliver on its pre-established objectives?
The power of a growth-focused culture
The answer to the above question is ‘neither’. Knowing that each generation has different views and expectations of the workplace, employers – mainly managers and HR professionals – must instead seek to create a plan of action that will ensure that all employees, no matter their generation, work together to achieve the organizational goals for which they were hired in the first place.
This can be achieved by developing a talent management system that will:
- Define the goals and key culture elements sought by the organization
- Identify the skills and competencies required for each role within the organization
- Determine the skills and competencies that are lacking in the current workforce
- Develop a training and coaching program that will seek to bride that gap between steps 2 and 3
It is important to note that it’s the organization’s responsibility to ensure that such a program is communicated appropriately to its workforce. Without clearly defined benefits of following such an approach, even the best of programs may be set for failure, particularly with Millennials who are recognized for demanding a higher level of transparency and feedback.
The humanization and modernization of the model
A PwC & University of Southern California study has revealed that most organizations still embrace old models of talent management, which are inconsistent with Millennials’ expectations of the workplace.
Competency models are one of those systems often perceived as ‘old-school’ by many young leaders, mainly due to the fact that they are highly technical and focus primarily on current skills, instead of an individual’s potential for growth and development. In other words, they are considered too mechanical and impersonal, not factoring in the oft-overlooked benefits that a different perspective can bring to an organization.
Yet, competency modeling has also evolved over the years, and many experts in the field have since adopted a more modern and human approach. In fact, implementing competency models that match the needs of both the organization and the workforce fosters unity, a crucial element to motivation, teamwork and performance. It’s simply a matter of giving employees an active role and the freedom to understand the importance of that role in achieving the organizational goals. By using competency models to establish a clear path from hire to development to promotion, with explicit expectations at each step, employees are put in control of their professional success, all the while facilitating the performance assessment and succession planning process for managers.