Employees with the right competencies and skill sets are key to a company’s success. Continuously building employee competencies and upskilling your workforce with knowledge of the latest technologies and trends is crucial to generate unparalleled value for a business. Moreover, companies focusing on competency building often succeed in talent acquisition and employee retention using an advanced tool like a learning experience platform, or LXP.
Let’s delve deeper into what employee competency management is and why it is important before understanding how an LXP platform can help competency building for your organization.
What Is Employee Competency Management?
Employee competency management is the process of building knowledge, skills and abilities(also known as KSA) that contributes to increased employee performance and leads to better business results. Employee competencies are defined and benchmarked based on the job role and department. For example, a research analyst needs competencies like critical thinking, knowledge of data warehousing, fact-checking, analytical skills, etc., to deliver expected performance.
Employees’ competencies are bifurcated into three main categories:
- Behavioral competencies
- Functional competencies
- Leadership competencies
It is challenging to find talent with all the required competencies, so L&D professionals need to identify the gap and promote competency building over time through upskilling.
Importance Of Upskilling And Competency Building For An Organization
Upskilling employees with essential competencies can help in future-proofing the organization to deliver value amidst uncertainties. The right competencies ingrain a sense of responsiveness to act quickly in unexpected and ambiguous situations.
These are some of the most important benefits of mapping and building core competencies.
- Enhance your overall business results.
- Expand employee abilities to work more efficiently.
- Provide employees with opportunities to excel in current roles and boost their career growth.
- Drive employee performance which helps organizations to maintain a competitive edge.
- Reduce the likelihood of employee turnover.
- Increase the chances of internal mobility and gives employees the flexibility to explore roles within the company for vertical and lateral growth.
- Give employees clear visibility into performance expectations and outlines promotional paths.
How To Harness The Power Of LXP For Building Employee Competencies Through Continuous Upskilling
Many organizations have relied on a traditional LMS for training employees. However, this age-old technology fails to serve as an effective learning platform for competency-based training. Harnessing a more advanced learning technology, like the Learning Experience Platform (LXP) is essential for competency mapping and upskilling employees at scale.
The most important reason behind this is that an LXP enables you to provide personalized learning to build individual competencies for your employees. This personalized approach takes upskilling to a whole new level.
Along with competency building, an LXP also allows you to stay up-to-date on the latest skill trends, track employee learning progress in real-time, and show learners a clear path to growth for their role and proficiency levels.
An innovative learning experience platform will also enable you to:
- Map competencies for your employee based on global benchmarks for each role
- Track employees’ proficiency level for each competency
- Define competency-building pathways for each role and department
- Link competency-based training to business goals
- Identify knowledge and skill gaps with in-depth assessments
- Personalize upskilling by tailoring content to learner’s unique needs by using
- Capture data from various sources and keep learners updated with LXPs’ AI-based recommendation
- Track learner’s behavior to find out how and when employees learn
- Measure upskilling impact through 360-degree analytics within the skilling platform
- Send email notifications to remind learners to complete the course
- Drive engagement and motivate employees to learn by offering badges and learning points on the leaderboard using an LXP
- Offer employees greater flexibility to learn with its cross-device compatibility
- Unlock talent mobility with the personally-tailored roadmap of lateral and vertical career paths
L&D expert’s view on leveraging LXP for competency building
LXP has captured the attention of CLOs and CHROs worldwide with its extensive capabilities to elevate employee upskilling and development. P Swasono Satyo, Chief Human Resource Officer, Sinarmas Group, Indonesia, shares how leveraging LXP platform enabled them to drive competency building at scale in the organization.
In this video, he explains how leveraging an AI-powered LXP boosted their upskilling initiatives and helped provide a global experience to learners by curating meaningful content in less time. For more insights, check the full conversation of the L&D expert with Sunita Arora, Learning and Development, Advisor and Strategist.