Using the Competency Framework you can develop a structured approach to defining, measuring and tracking the development of competencies in the finance function. This makes it easier to identify the competencies that will best enable your finance and accounting professionals to achieve organisational and personal goals. Using the guide and tool you can:
clearly communicate the required standards of competency
manage employees’ performance and measure their contribution
assess gaps in employees’ knowledge and skills
improve workforce and succession-planning efforts and more.
You need to appoint a project manager for a mission-critical system implementation. You want to ensure that the person you appoint has the right personal objectives to help them succeed and to enable you to support and manage their performance.
Quick Tool guide for scenario:
Go to Column D (Knowledge area) and select Project Management from the drop-down list
The Foundational competencies are too low-level for your expectations of the new role, and the Expert competencies are better suited to your own position. Go to Column B (Proficiency level) and select Intermediate and Advanced
Then Column A (Statement of competence) will highlight the competencies on which you can base your selection and development plans.
To work through this scenario, watch the video below or download the Tool and explore more ways of using this.