With yet another week of lockdown passing by, DevX organized an insightful webinar helping for its community of thinkers & creators make the most of this unprecedented time!
In association with MyLifeCoach, the webinar on how to Safeguard Your Business was held on 13th May, 2020. Various aspects such as strategic business continuity plans, competency mapping, and organizational work culture to safeguard your businesses enabling it to sustain the complexity of this world.
The panel of speakers comprised of Mr. Abhimanyu Datta & Ms. Hiral Shah, Managing Partners at MyLifeCoach who strategically coached the attendees achieve their organizational goals. Mr. Abhimanyu Datta is an esteemed success coach specializing in psychological re-engineering and is an expert at customizing and implementing the organizational training programmes in line with business objectives. Ms. Hiral Shah, on the other hand, has a vast industry experience of almost two decades in various areas of strategic human resource management. She has managed more than 2500 employees across the IT/ITES and BFSI industries.
The webinar comprised of a 40 min presentation by the speakers followed by the Q&A session. The prime focus of the presentation was the importance of a Business Competency Plan (BCP) during unexpected times like the COVID-19 pandemic as well as how effective can a Competency Model can be for any organization from its employee stand point. The presentation explained in detail about how to create a BCP and what elements to considered while planning for the future of any business, how companies can attract the best talents in the market & retain them consistently.
The entire webinar concluded into the following lines:
- We live in a VUCA (Volatile, uncertain, complex, ambiguous) world, as they call it
- Businesses must come up with a one-for-all continuity plan where the plan caters to each and every professional working under its umbrella.
- The framework consists of 3Ps – Purpose, Policy, Plan.
- The discussion involved various aspects of organizational competency mapping involving the people and performance management.
- An employee competency can include their core competencies, behavioural competencies, technical competencies, functional competencies and even leadership competencies.
- The benefits of the five competency models range from strategic recruitment to skill inventory management and talent management.
- The strategies around competency mapping involve the KSAP model (Knowledge, skills, abilities, and personality traits) to understand the behavioural indicators while writing the competency statements for a job profile. The STAR (Situation, task, Action, and Result) approach is usually used to evaluate the desired competency vs the actual competency of the employees.
- Talking about attrition rates, it was advised to conduct Stay Interviews periodically and to consider them equivalent to Exit Interviews.
The entire webinar was a fully informative session, with participants throwing in challenging questions to the panel and in return receiving adaptive insights by the speakers on their queries.
This brought us to the end of the webinar leaving all the participants to be eagerly waiting for the next one!