There’s no doubt that for a company’s processes and tools to be cost-effective, senior management must be involved in their development, albeit to varying degrees. The creation and implementation of competency models are no exceptions. But just how involved should a company’s stakeholders be in the talent management process?
First step: Determining the key stakeholders
A company’s key stakeholders are the individuals who hold a vested interest in the decision-making process of an organization, as well as in its results. This therefore involves everyone from the actual owners of the company to upper-tier management, including the Board of Directors.
Just as these same individuals are responsible for the success and growth of the company they manage, they cannot turn a blind eye to their most important asset, their employees, particularly with respect to hiring and retaining a workforce that is so detrimental to their top-level objectives.
The why and how of senior management’s involvement
Simply put, HR is tasked with creating a model that addresses the company’s objectives and direction so at the end of the day, there is a pressing need to ensure that this model is aligned with the proper behavioral queues for the organization.
Key stakeholders are not only invaluable resources to the competency modeling process, they are also the source of the resources HR needs to build and implement an effective model that adheres to both the company culture and mission.
Having key stakeholders involved in the competency modeling process allows for:
- Increased trust in the model within the organization
- Complete transparency and consensus
- Considerable value added in the data collection and validation process
- Unique insight that might otherwise be missed or not considered
Of course, despite these benefits, involving senior management requires careful planning and a significant investment of time into a project that may be regarded to be “HR’s job”. As such, obtaining a commitment and true engagement in this process is not always easy.
To learn more about how HR can plead the case for competency modeling, or to better understand the different steps required to build an effective model tailored to your organization, visit our website or sign up to attend our upcoming workshop.