In a new benchmark report released by Aberdeen Group, "Competency Management: The Link Between Talent Management and Optimum Business Results,found that while 70% of all organizations surveyed focussed on Employee Performance as the key metric to impact through competency management efforts, 89% of Best-in-Class organizations are able to increase employee performance versus only 33% of Industry Average and none of Laggards. This report highlights how Best-in-Class performers are using a combination of strategies,processes and technology solutions to align the workforce with business objectives and impact key pre- and post-hire performance metrics.

"Competency management has been around for many years, but we're seeing significant focus on this area due, in large part, to organizations placing a premium on measuring quantifiable output of human capital and determining organizational 'fit' based more on behaviors. As a matter of fact, we found that 92% of Best-in-Class organizations have competency models in place, are in the process of defining core competencies, or are budgeted to start within 12 months," says Kevin Martin, Research Director, Human Capital Management at Aberdeen.

In addition to increasing employee performance, organizations that integrate competency management are also able to reduce employee turnover and increase revenue per employee.

The data also shows that Best-in-Class are now looking to leverage and integrate knowledge of workforce core competencies to not only improve pre-hire performance, but also to provide strategic insight into post-hire elements. To this point, 55% of Best-in-Class companies have utilized competency management to identify specific knowledge gaps that can be resolved through learning, and an additional 43% plan to do so over the next year.

This report examines how global enterprises are utilizing competency management strategies to create a more flexible and agile workforce,and improve workforce productivity. In addition to providing insight into what Best-in-Class companies are doing, this report also offers recommended actions that all companies can take to implement and improve competency management efforts and achieve competitive advantage.