People are an organization’s greatest asset. Therefore, it goes without saying that developing people needs to be a key and explicit part of any organization’s strategy. Of the many reasons why an organization should prioritize investing in their people, perhaps the most compelling, rests in the fact that when done strategically, money spent on developing human capital boosts productivity more than any other spend. As airports represent a major capital investment for all its resources—airside infrastructure and facilities and passenger terminal buildings runways, systems, etc.—it is imperative that those making decisions are equipped with the proper skill set and competencies to make the right decisions.
Knowing this, it is concerning that recent research from PricewaterhouseCoopers found that less than half of Human Resources leaders are very confident that they will have access to the right talent to execute on the business strategy. It has become imperative to attract, select, develop, reward, and retain the best talent possible. While the first step is attracting and selecting the best people, a key component is to develop these individuals through a robust competency building process, ensuring the best return on an organization’s human capital investment. As a result, competent employees are more productive, and when their accomplishments are recognized and rewarded, they tend to stay with the organizations that develop them and value them.
Developing a Competency Building Master Plan requires many steps which are also all key success factors. These can be grouped into four main categories:
Performance Needs Assessment
 PricewaterhouseCoopers - Key trends in human capital 2014