As a
result, upper management in the targeted financial institution decided that due to “(a)
growing labor shortages, (b) a more competitive business environment, (c) tightening
budgets, and (d) a continued evolution towards a high performance organization” the
financial institution needed to take the following steps:
1. Identify and systematically integrate a set of core competencies across the entire
organization to provide a common link for Selection, Education and Organization
Development (OD), Performance Management, and Succession and Career
Planning.
2. Establish and use the core competencies as a foundation for a “high performing
organization,” and to support the institution’s strategic plan and long-term vision.
3. Link specific behaviors to each core competency for officers, managers, exempt,
and nonexempt staff (W. L. Rives personal communication, March 1997).
These objectives and potential problems are not unique to this financial institution, as
previously cited in the literature.