Why is Competency Management important?

Summary

Competency management (CMS) is a pivotal framework that has been embraced for its ability to ensure consistent competency across multinational corporations. Initially introduced by DMV in 2004, CMS offers a unified approach to learning, appraisals, promotions, and training that transcends diverse national curriculums. The presence of a certified CMS, especially by esteemed bodies like DMV, significantly strengthens due diligence processes, assuring businesses and clients of operational safety and competency.

Highlights

• CMS offers a straightforward framework for competency appraisals and training within multinational firms 🌐.
• Standardization across different national education systems is a major benefit of CMS 📏.
• CMS is instrumental in due diligence processes, especially in showing competency and safety through certifications like DMV 🎓.
• The ability to manage and provide evidence through CMS is crucial for audits and client relations 🔍.
• Certified CMS can be a real differentiator in securing new business and maintaining ongoing services 📈.

Key Takeaways

• Competency Management Systems (CMS) ensure consistency in multi-national companies 🌍.
• CMS helps in seamless onboarding and training across diverse educational backgrounds 📚.
• A certified CMS is a key differentiator in business discussions and due diligence processes 💼.
• CMS provides an audit-ready framework ensuring safety and competency 🛡️.
• Having a reputable certification like from DMV can boost client confidence and trust 🤝.

Overview

Competency management systems (CMS) are like the unsung heroes in multinational companies, quietly ensuring that everyone is on the same page. Introduced in 2004, these systems provide a standardized approach to evaluating competencies, appraisals, promotions, and training, no matter where in the world your employees may be. This standardization is crucial in bridging the gaps created by the varied national educational curriculums and is a must-have for companies that want a seamless operation across borders.

One of the standout advantages of a CMS is its role in due diligence. When companies are either entering new business or maintaining current services, the competency question looms large. Clients and partners want assurance that the people they are trusting are competent and safe. A CMS, especially one certified by reputable organizations such as DMV, serves as solid proof of this competence, acting almost like a stamp of approval that checks all the boxes for clients and regulatory bodies alike.

The magic of CMS is further amplified by its ability to create and manage the evidence needed for audits. In today’s globalized marketplace, showing documented proof of competence is not just beneficial – it’s expected. And having a certification from a renowned entity like DMV doesn’t just check the box; it elevates a company’s profile, building trust and opening doors to new opportunities. It’s like having a golden ticket in the world of business credibility.

Why is Competency Management important? Transcription

• 00:00 - 00:30 the first thing I'd like to get into today is like you know really we we've got a lot of people here there's a lot of interest but why should people be really interested in competency management why is it important and really why is it I John I'd like to start with you on this one because obviously you you've invested a lot of time effort energy into uh CMS why do you think CMS is important and why is it important to C Peak as well I think you might be muted okay there we go sorry about that
• 00:30 - 01:00 get the basics done um so firstly other CMS was initially introduced and approved by DMV in April 2004 so we're now on 20 years of of successful um operations using asms but um why is it important it provides a straightforward and uncomplicated framework of competencies appraisals promotion requirements and training um
• 01:00 - 01:30 in a multinational company such as ours especially when National curriculums across the globe differs so much it's important they have a we have a standard onboard Learning and Development process which all CS regardless of nationality can relate to and follow another reason um why we see it as as an important tool for customers conducting due diligence
• 01:30 - 02:00 either for our continued services or for new business the question of competence and having competent people I.E Safe People is a constant in these questionnaires and quite simply having a CMS that is certified by a reputable organization like dnv can be a real differentiator in in these talks and and applications so would I be right in thinking that the CMS kind of in a sense
• 02:00 - 02:30 is is not only providing the kind of the ability to to manage that and to and to get that consistency but also creating the evidence which you can then get audited by DMV and can then share with customers and that kind of thing is that do I understand that correctly that's exactly what I'm saying yes yeah it's almost like a approval stamp yeah and I think that consistency piece in a multinational environment is something that comes up certainly in conversations with with me all the time because as you say from the different national uh Administration the education systems in
• 02:30 - 03:00 those but of course different levels of of basic learning and understanding um that you you find in those as well