Qualification inventories are defined as computerised or manual records maintained in a systematic manner, which list down every employee’s education, work related information like career interests and special skills, languages known, and other details which are useful is forecasting, succession planning and for internal promotion of candidates.
One may think that maintaining of qualifications inventory is resource inefficient and does not serve any purpose. However, compiling qualifications inventories for every employee of the company facilitates managers to assess employee skills and qualifications quickly, so as to compile a list of qualified candidates for open positions within the organisation. There are several tools that can be employed to collect such information. Questionnaires are commonly used by managers which are emailed to employees, asking them to rate their level of knowledge and competence in several skills. The received information is then used by managers to create a database.
Both employees as well as managers share the responsibility of maintaining qualification inventory relevant and up to date. If the talent inventory does not contain relevant and required items like qualification, skills, talent, experience, and more, there are high chances that many employees within the company who possess the right set of qualifications for a job are overlooked by the management during the selection and shortlisting process. Hence, it is of utmost importance that qualifications inventories are updated periodically. Usually, the revision and upgradation is done annually.
Another important use of maintaining qualifications inventories for the employees in your organisation is to have the right estimate of training needs. When the HR personnel has the skills-related data of every employee readily available at just clicks away, it will enable them to make better decisions regarding the training and development requirement of employees. Thus, eventually employees will become better equipped at reaching higher positions within the organisation.
Hence, this concludes the definition of Qualification Inventories along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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