New TalentQuest White Paper Illustrates Importance of Competency Management in Tough Economy

The need for competency management is greater than ever during tough economic times, according to a new white paper from TalentQuest, an integrated human resources consulting and software solutions firm.

A complimentary copy of the new report, ìCreating Competencies That Matter,î is available for download by visiting http://www.talentquest.com/TalentQuest/www/9-0-Thought_Leadership_Downlo.... The paper is designed to help organizations understand what competency management is and how it can ensure that consistent, objective criteria are applied in the identification, selection and management of employees.

At a time of unprecedented economic turmoil, competency modeling may not seem like a top priority. However, TalentQuest asserts that talent management initiatives like competency modeling matter now more than ever. In fact, the report cautions organizations to avoid making hasty decisions when it comes to talent management, and encourages them to carefully consider long-term objectives.

ìIf your organization is directly impacted by the housing crisis or the financial sector meltdown, you might be forced to lay off some of your staff. How can you ensure you are keeping the talent you will need to weather the storm and to rebuild when the time comes?î asked Kevin Sessions, president of TalentQuest. ìConversely, if your organization is growing, countless sub-par candidates are masking themselves as top talent in the ever-growing talent pool. How can you ensure you are selecting the best available person?î

The research paper addresses the critical need to develop and manage internal talent for an organizationís long-term future. It includes best practices for building an effective competency model, the benefits to an organization, various types of models, 10 steps to successful competency deployment, pitfalls to avoid and more. A key focus is on the application and alignment of the competency model to business objectives - mapping it against business challenge and determining the types of competencies for each leadership requirement.

ìFrequently, companies that downsize cram square pegs into round holes to get the necessary work done. Worse yet, in some cases they try to put a single square peg into multiple round holes,î concluded Sessions. ìItís frustrating for both employees and managers. Effective competency management can alleviate this frustration by clearly identifying behaviors that will drive the strongest results.î

To receive a complimentary copy of the paper, please visit http://www.talentquest.com/TalentQuest/www/9-0-Thought_Leadership_Downlo...