Benefits of competency development

Personal Development

By Kay Fitzgerald
Published November 7, 2020

Content to deliver your own webinars, virtual training sessions, or classroom-based courses

Competency development impacts a company in many ways:

- Employee retention
- Increased focused training
- Increased accountability
- Cost reduction
- Better alignment 

Impact 

For the individual, the benefits include:

1. Utilization of talents
2. Job enrichment
3. Increase in responsibility

Individual

Benefits

For teams, the benefits include:
1. Increased productivity
2. Clarity of roles
3. Expectations are equivalent to skills

Team

Benefits

For teams, the benefits include:

4.Teamwork is improved
5. Recognition of value
6. Succession planning

Team

Benefits

For the organization, the benefits include:
1. Increased profitability
2. Increased earning per share
3. Improved security and survival plans

Organization

Benefits

For the organization, the benefits include:

1. Increased confidence
2. Retention of key staff
3. Capture of resident knowledge

Organization

Benefits

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