Competency concepts

What is competency?

A set of  best practices to be adopted and applied to produce an expected performance output.
A set of knowledge attitude and skills to produce a set of behaviours which could be observed, measured and evaluated to produce job or work outcome.

How to draw a set competency for a job.

• What are the objective and goals of the job?
• What are the duties and tasks needed to accomplish these?  Key Result Areas/Best Practices
• What are the actions do the job holder take?  Performance improvement matrix
• What results have been achieved: measurable performance.  KPIWhat is the different between competency based learning approach in contrast to the traditional academic based approach?

Competencies are identified through analyzing responsibilities, duties and tasks of a workman who has produced standard performance output. ry

The competency of any job would depend on the best practices in the industry.

The competency gaps is the different between the job holder competency against the best job holder in the industry.

Competency gaps are identified for the purpose of finding what training needs are needed for key job holders.
For example, an accountant are functioning primarily as follows:-

1. Producing efficiently financial statement as required by the laws
2. Producing periodical analysis and meaningful reports for the purpose of planning and decision making for all stakeholders.
3. Ensuring healthy cash flows and liquidity management.
4. Sourcing for cheap source of funds for the company and managing them efficiently and effectively.

Because of the above, the accountants must learn

1. Debit and credits up to Balance Sheet
2. Ratio analysis
3. Cash flows
4. Calculating cost of funds.

Through competency approach, a trainee learns to solve problems through applying the appropriate tools learned.

STAR: (Situation, Tasks, Actions, Results.)

We organise the following competency based seminars in Kuala Lumpur
(How to do it -  the tools that has been practised successfully)

1. Performance Audit - 2 day
• Evaluating past performance and the underlying factors
2. Performance Improvement - 7 steps approach - 1 day
3. Strategic Management - 2 day
• Metric Structure and Strategic Mapping
4. Strategic Finance in spreadsheet - 2 day
• 7 steps in business finance
5. HR Measures and Accountability - 1 day
• Measuring HR performance
6. Cash flows and Project Evaluation - 2 day
• Excel spreadsheet based
• Understanding discounted cashflow techniques
7. Business Planning in 7 steps - 2 day
• systematic approach to business
8. Performance Planning and Appraisal - HR purposes - 2 day
• The key HR function
9. Training Need Analysis - 2 day
• Performance gaps
• Competency gaps
• Justifying training
10. Compensation for performance - 1 day
11. Performance Management System - 3 day
12. Performance leadership and team building
• Team synergy and management

for more information call us now 012-2786282
arriffin@gmail.com

COSTS, VOLUME, PROFIT ANALYSIS

Return on Equity Chart  -   use as total diagnostic tool.

STRATEGIC MAPPING

Competency based steps in business
Job or work based methodology

1. Evaluate past performance using financial statements
2. Identify SWOT through gap analysis/ benchmarkings
3. Determine Market positioning
4. Know the market segment and competition.
5. Adjust business strategies
6. Refine market strategies
7. Ensure adequate working capital with a practical trading strategies
8. Minimise investment on fixed capital but ensure adequate capacity.
9. Financed the business by balancing equity with loan funds
10. Ensure continued liquidity through cash flow projections
11. Check goals achieved through Du Pont ROE chart.
12. Construct future financial statements
13. Test for reliability and reality with ratio analysis