Managing Skill Gaps through Competency Mapping- A Strategic Tool for Competitive Edge

In the present competitive business environment, human resources are the most valuable resources in an organization for the value creation to attain competitive advantage. The recognition, utilization and development of the human capabilities for the enhancement of individual's performance and organizational excellence are the most decisive functions of strategic human resource management. Competency mapping is concerned with the identification and development of an individual's capabilities which are necessary for efficient performance as per the organizational strategy. It is imperative for managing skill gaps for strategic utilization of the human assets in the organization. The present article focuses on examining competency mapping as a strategic tool for competitive advantage that facilitates managing skill gaps in the perspective of key issues and suggestions as well directions for further research in this domain.