Impact of competency mapping on talent management for improving business performance

This is a case study of an ITC Ltd which is an Indian conglomerate, includes five segments: fast (FMCG), Hotels, Paperboards & Packaging, Agri Business & Information Technology business. Rapid expansion of business had resulted in an impossible stress to the traditional forms of managing talent. This case demonstrates the competency framework for managing talent. The company invested in competency framework for organizational growth and developing competencies go hand in hand. The initiative resulted to manage retention of its employees. It takes care of the key attrition factors, thus helping the organization to promote the retention of manpower. Competency approaches and analysis provide benefits such as increase in productivity, enhancing perfection in quality work, improving the work performance and effective resource utilization. Competency approaches are a passion of the organizations striving to reach the goal.