Assessing the Challenges in Competency-Based Hrm in the It Sector

Abstract

The economies and corporations functioning in the twenty-first century are primarily based on the footing of knowledge and skills. Therefore, human resources (HR) must be regarded as a vital source of knowledge and skill in an organization and must be treated as human capital. Human Resources are the only asset that adds value to itself over the period of time and can also be nurtured effectively with appropriate training and development procedures. In today’s world, the success of corporations’ rests on the shoulders of human resources and that success can be manifested in the form of Competencies. Competent employees act as a catalyst in the smooth functioning of organizations and pave the way to achieve a competitive edge in the market.

To incorporate this, the most common approach to inculcate competencies in organizations is through Competency Mapping. As the global working environment shifts from mechanic to organic, organizations are required to use their human resources more strategically. Competency Mapping is a strategic HR policy that helps in monitoring the performances and development of human resources in an organization.