SLIC partners with KPMG Sri Lanka, a global network of member firms, to conduct a company-wide ‘Competency Mapping’ exercise

The nation’s largest and strongest insurer, Sri Lanka Insurance recently teamed up with KPMG – one of the most respected business consulting firms in Sri Lanka to hand over the final report on the company-wide ‘Competency Matrix’ covering all job positions of the company. The Final Report was exchanged between the Chairman of SLIC, Ronald C. Perera, PC and Partner, Advisory – Head of Management Consulting of KPMG, Sri Lanka, Ms. Kamaya Perera recently at the SLIC Head Office.

‘Competency Mapping’ is a proven best practice that aims at identifying specific knowledge, skills, abilities, and behaviors required by individuals to operate effectively in a specific trade, profession, or a job position. Competency Mapping enables organizations to craft competency-based job roles that model successful employee performance, ensuring higher productivity and better resource optimization while facilitating structured recruitment and career development programs.

Being a progressive player in the realm of insurance in this region, SLIC consistently strives to embrace best practices in management that can create stakeholder value, propel productivity, and help achieve organizational goals, leading to successful business outcomes, in keeping with the envisaged strategic objectives of the company.

“As a respected corporate entity with a long history of progressive approaches to business management, we consistently look to align with international standards and develop resilience and efficiency to achieve our goals and create sustainable values for all stakeholders. Adopting the Competency Mapping approach will be integral to our growth, especially in these challenging times,” said Chandana L Aluthgama, CEO of Sri Lanka Insurance.

By undertaking a comprehensive competency mapping exercise, the company aims at assisting both the management and employees to identify the core competencies and attributes required by the job holder with a view to bridging these ‘knowledge gaps’ through subsequent training and development initiatives.

The proposed ‘Competency Mapping’ exercise would lead to a well-defined competency matrix that sets clear benchmarks for the skills, attributes and knowledge-related aspects required by the employees of SLIC covering each job position and department that could promote the value-centric, performance-driven culture of the company while helping to streamline business operations, improve productivity and shape the people management strategy of the company.

As part of SLIC’s efforts to plan and scale its manpower requirements in a more prudent and systematic manner, arrangements are already underway to carry out a Work Study assignment (assignment) covering all Departments at the Head Office and two selected model branches in collaboration with KPMG in early 2023.

KPMG has been shortlisted for the proposed assignment through a comprehensive procurement procedure in keeping with the established government procurement guidelines where emphasis was paid to their expertise in the field of management consulting, particularly KPMG’s proven track-record in delivering holistic, integrated and solutions-based consulting outcomes that could help SLIC to realize strategic endeavours.