Yes, competency mapping is highly beneficial for companies. It enables organizations to align their workforce with strategic goals, ensuring employees possess the skills needed to excel in their roles. This results in improved performance, reduced turnover, and cost savings. Competency mapping aids in talent management, succession planning, and recruitment, while also providing employees with clear career development paths. It fosters a competitive advantage by equipping the workforce to adapt to changing industry demands, ultimately contributing to organizational success and growth.