Organizations can use social media analytics as an effective assessment tool from behavioral perspectives, HR as well as business process to collaboratively build competency framework. The present piece of work is an attempt to put forth social media as a contemporary model in the light of the existing literature. Providing literature reviews, this paper also highlights current practices of social media analytics as to how organizations are accessing vast amount of live data from social media in order to understand work-related behavioral aspects of the employees and their employability for both HR process and the business. The analyzed data on customers is also being taken into account to highlight patterns and customers' sentiments related to the marketing efforts. Furthermore, on the basis of the above presented discussion this paper suggests the road map to how organizations can foster the social media practices. Finally, this paper raises some significant plausible research questions to be empirically researched in order to methodically validate or discard the presented framework on this rapidly emerging phenomenon.