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Best Practices for Modern Competency Assessments in the Office of the CFO

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Essential Tools and Techniques To Develop High Performance Corporate Finance Teams

Successful execution of every finance function hinges on the competency of individual employees. Managers want a consistent and uniform framework to determine the capabilities and proficiencies of their staff.

The modern competency assessment emphasizes the development and future growth of each individual and, by extension, the teams and organizations in which they work. This is in contrast to the traditional performance assessment with its focus on performance appraisal. Competency assessments allow for separation of the business goals of the organization, and the development goals of the individual, while encouraging harmony between both interests.

This whitepaper discusses concepts for developing an effective competency assessment framework that not only rates the competencies of individual employees but also provides a method for delivering highly targeted training to improve knowledge and develop proficiency.

Best Practices for Modern Competency Assessments in the Office of the CFO
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