It is fundamentally an issue of competency supply and demand.
The labour market matches employers and workers.
This relationship of supply and demand not only has implications on wellbeing and business, but also economy and society as whole.
Competence is an ability demonstrated in an activity at work. It has multiple aspects, expressed in such terms as skills, aptitude, knowledge, behaviour, values, qualification.
Competency is a competence profile, a set of competences associated with a person, team, work, process, or artefact.
Competency management is to identify, assess, match, foresee and control competency at work.
Its main function is mediation between supplies and demands in line with business and development strategies.
Competency engineering digitalises competency data and knowledge in competency data banks and knowledge bases for the purpose of intelligent competency management.
Competency analytics uses AI technologies for comprehension and decision.