This paper will summarize the potential use cases and impacts of competences and skills in the new area, often called "Digital Age": It will highlight the roles and benefits of standards and metadata for HR development and points out the special support that competence models can provide for the quality development in learning, education, and training. In this regard, the main characteristics of this innovative approach called competence modelling and its relevance in vocational education and training (VET) can only be summarized. A general competence model with a standardized competence structure and taxonomy of levels is introduced and discussed for the general application scenarios and for the specific use cases in vocational education and training. It can be shown that competence modelling and the presented competence model lead to an improvement of the working places, of the organizational and individual development, to an increase of the mobility worldwide as well as to a higher transparency and recognition of competences and skills. Finally leading European initiatives on competence modelling are introduced and the current standardization activities are highlighted.