My training work this week included a session on managing appraisals -surely one of the least favourite and regarded aspects of management. And of being employed.
Yet there is a need – an imperative – that appraisal are conducted in some areas, such as financial services where the regulators demand them. Well, they don’t actually demand appraisal, but they do demand competence, and especially that it has been defined and evidenced – hence the appraisals.
But what is competence?
This is easier to define than to recognise, as the excellent newsletter from Graham Jones (Internet Psychologist) this week provides great examples of where and how the lack of competence strikes us, even when competence itself is often overlooked.
The tool I choose most for competencies is KASH – Knowledge, Attitude Skills & Habits. This helps to draw out what you expect people to do and how, and provides a framework for establishing what you (or your organisation) regards as competence.
There are of course other definitions:
- The ability to perform a known task to a defined standard without the requirement of constant supervision
- “Having the skills, knowledge and expertise to discharge the responsibilities of an employee’s role. This includes achieving a good standard of ethical behaviour” Regulator (UK Financial Conduct Authority – Training & Competence Handbook 1.1.4)
- The Chartered Institute of Personnel & Development uses a ‘profession map’ to provide a structure for competence across the HR and Learning & Development professions. I like this tool and use it to consider my own strengths and development areas.
I feel you can easily establish some common areas from these definitions, beyond the fact that there is no one definition.
It is about how well you do things, and what lies behind the fact they are well done – for me, this is KASH. Note the FCA definition too.
A crucial factor is also that these models and definitions are tools to help us provide service to our customers and also guidance for our staff: it helps if everyone knows what the standards are and how they should be maintained. This is why I draw KASH as a jigsaw puzzle: no one element is more important than the others: they are interdependent. We sometimes suggest people do things ‘naturally’ when we really mean subconsciously, and that could well be the effect of a good habit.
Your skills, knowledge and attitude are not enough. Competence cannot be a one-off performance; it also demands consistency – more easily provided by people as a habit.
Habits can of course be good or bad. I imagine you cleaned your teeth this morning – good.
Two important questions for you:
- What other good habits will you be working on this week?
- How else will you be demonstrating your competence?
More reading:
An old article, but reflective of perceptions about appraisals https://www.bbc.com/worklife/article/20190501-why-appraisals-are-pointless-for-most-people
The CIPD’s Profession Map – a great tool – https://peopleprofession.cipd.org/profession-map#gref
If my newsletter is not enough… https://www.grahamjones.co.uk/
Buzzword of the Week – Initial Public Offering (IPO)
Definition – The US term for what in the UK we used to call flotation. It is the process of offering shares of a private company to the public in a new stock issue. This allows a company to raise capital from public investors. The transition from a private to a public company can be a method for private investors to realize gains by selling to new public investors.
Alternate View – Note the 2 parts the definition: raising capital and enabling private investors to realize gains. Another reason could be to reduce debt. The question with an IPO is not how much but why? The nature of many businesses means that huge capital investment is rarely financed by equity: if the IPO is just to enrich the existing shareholders, is this good enough reason for you to buy?
Coming Up…
Next Monday 21st I am running training on Report Writing for the Investment Association – more details at https://www.theia.org/events-training/event?eventtemplate=586-effective-report-writing-what-gives-impact-to-your-reporting