In past years, many companies have invested in competency management. Competency management is based on the needs of the company. It is a professional method for organising organisations in such a way that they can fulfil their objectives successfully. We call this the DEMAND SIDE of the organisational issue. What does the company need to be able to fulfil its objectives? Job descriptions, competency profiles, … are typical products of competency management.
The foundations of talent management, on the other hand, lie with the employee. We call this the SUPPLY SIDE of the organisational issue. What do the employees, as individuals or in team, bring to the organisation, and how can this be utilised for the benefit of the organisation? Roles, Talent Passports, … are typical products of talent management.
The Talent Passport provides managers with a concrete tool for utilising the talents of their employees within the HR cycle by means of objectives and performance appraisals, development assessments and feedback interviews. When time is made during these appraisals not only for the DEMAND SIDE (company) but also for the SUPPLY SIDE (employee), it is then that you encourage the commitment of the employees. A simple question, such as “What are your talents, and how can you use these in our team?” can work wonders when it comes to employee involvement. The Talent Passport ensures that this question can be answered from an objective reference point and that the employee and the manager do not lose themselves in a subjective interpretation of what the talents of the employee may be.
Competency management and talent management are complementary instruments. They are two important pillars of modern personnel management.