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The Competency Risk Factor

The issue of managing the disparity between workforce competencies and job responsibilities has long been a challenge in various industries. However, with the rapid pace of change in different functional domains of business, this challenge has become an increasingly pressing threat to operational efficiency and productivity. It is no longer a unique challenge confined to one company, but rather a widespread concern affecting many organizations.

Effectively addressing this challenge requires a comprehensive approach that takes into account the evolving nature of work and the skills required to perform it. Organizations in this regard must consequently stay abreast of the latest developments in their industry and invest in professional development for their employees to ensure they have the necessary competencies to meet their job responsibilities.

The implications of failing to manage this gap can be severe. Not only can it lead to decreased productivity and operational inefficiencies, but it can also result in higher operational costs and possible negative impacts on the organization's reputation. Importantly therefore organizations must prioritize the management of this challenge and take proactive measures to bridge the gap between workforce competencies and job responsibilities.

Some recommendations for consideration:

  1. Devote dedicated periods of time monthly, or more regularly as required, to evaluating changes in the business environment and the future goals of your organization as a comparison to existing and required skills of employees

  2. Maintain a record of existing competencies and map the changes required to empower staff to effectively and efficiently perform their roles

  3. Prioritize competency gaps in key functional areas for urgent attention through knowledge enrichment and upskilling

  4. Establish a culture of learning within the organization through “did you know” or “something new I have learned” platforms and create incentives for all employees including management to participate and learn from each other.

Assessing workforce competencies is a top priority, especially in today's ever-changing business environment. By aligning roles and responsibilities with the right skill sets, companies can ensure their teams are equipped to succeed. The changing business environment will continue to be changing business environment; how we manage the change often defines our capacity to be resourcefully transformative and futuristically relevant.

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