NUCSOFT was incorporated in 1994 with the aim of providing focused end-to-end IT solutions to the Banking, Financial Services and Insurance’ industry sectors (BFSI).The main focus of NUCSOFT is to provide value to the clients, and it recognises that its employees are its main assets that will provide Nucsoft with the much needed competitive advantage to accomplish this goal. Post-recession business is facing immense challenge. The growth in the domestic business is staid at 15% as compared to exports growth of 37% CAGR. Also, Retaining talent is one of the brewing challenges of the IT industry today; it will be an even bigger challenge for small players as bigger players offer fatter pay packs to attract the best of the talent. However if small players try to match up theses pay packs their profitability might be seriously impaired In such a competitive world it is becoming very important to build on the competitive activities of the business, particularly regarding what competencies a business needs to have in order to compete in a specific environment. And what other way than to develop the people, for human resource is the most valuable resource any organization has. Top management is identifying corporate core competencies and working to establish them throughout the organization. Human Resource Development builds competency based models that drive business results. Nucsoft recognises that the future of the organization depends on their competent employees than on any other resource. It is a major factor that determines success for nucsoft. Competencies are the inner tools for motivating employees, directing systems and processes and guiding the business towards common goals of customer satisfaction and thereby increase the value of the organization. Competencies provide a common language and method that can integrate all the major HR functions and services like Recruitment, Training, performance management, Remuneration, Performance appraisal, Career and succession planning and integrated Human resource management system Nucsoft recognises that people are its main assets and hence it has resorted to this customised exercise of competency modelling. Competency modelling addresses the development of people from process design through succession.
2. Key Terminologies
2.1.Competency: Competency refers to underlying behavioural characteristics that describe motives, traits self-concepts values, knowledge of skill that a superior performer brings to the workplace. According to this definition, competencies are made up of different type of characteristics, which drive behaviour. These underlying characteristics are evident in a way a individual behaviours in the workplace. Competencies are about what people are and can do, not what they do. These competencies are observed in people who are classified as effective or superior performers. Competency is the description of behaviour
Competence is the description of work task or what we do.
2.2. Competency Map. A competency map is a list of an individual’s competencies that represent the factors most critical to success in given jobs, departments, organizations, or industries that are part of the individual’s current career plan.
2.3. Competency Mapping. Competency mapping is a process an individual uses to identify and describe competencies that are the most critical to success in a work situation or work role
2.4. Competency profiling It is the process of identifying the knowledge, skills, abilities, attitudes, and judgment required for effective performance in a particular occupation or profession. Competency profiling is business/company specific.
2.5. Behavioral Indicators
A Competency is described in terms of key behaviors that enables recognition of that competency at the work place. These behaviors are demonstrated by excellent performers on-the-job much more consistently than average or poor performers. These characteristics...