A Study on Competency Mapping in Banking Sector

Every company needs competent employees to perform various organisational activities in an efficient way. Especially in today's competitive world, many companies are cognizant of this fact and prefer to select only right people for right job. Right people are identified based on vital competency required to do the work. Competency comprises of knowledge, skill, attitude and value. Competency mapping is a simple practice of recognising main capabilities required to perform a specific work and combining those competencies during the various procedures (i.e. Job appraisal, selection, staffing) of the company. Many thought leaders have emphasised that competent employees turn out to be one of the competitive advantages in fending off competition. As more and more companies realise its significance, HR professionals use this to the advantage of the companies by incorporating the principles of competency mapping in recruitment, performance evaluation, succession planning, training and development. To produce high quality work many companies use this technique to understand how to combine the strengths of different employees. Individuals can also identify their competencies with the assistance of competency evaluation tools and map them to the jobs that will suit them, where they could not only survive, also thrive