career and career management

CAREER AND CAREER MANAGEMENT

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The concept of career A career comprises of a series of work related activities, that offer continuity, order and meaning to a person’s life. The underlying idea behind a career is that a person can shape his destiny through a number of well planned and well timed, positive steps. The success of one’s career, therefore, depends on the individual more than anything else.

Career And Succession Planning

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Career: Important features

A career develops over time

The success of one's career depends, most often, on one's own careful planning and timely steps taken at a right time

The important element in one's career is experiencing psychological success.

The typical career of a person today would probably include many positions and transitions.


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Career stages

A career includes many positions, stages and transitions just as a

person’s life does.


High

L o w 25 35 50 60 70

Per

form

ance

Exploration Establish- M id career Late career Declinement

From college First job W ill performance The elder Preparingto wo rk and being increase or s tatespe rson fo r

accep ted begin to retirementdecline?

Age

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• Exploration: the transition that occurs in mid-twenties as one looks at work after college education, seeking answer to various questions about careers from teachers, friends etc.

• Establishment: this is the stage where one begins the search for work,picks up the first job, commits mistakes and learns thereafter.

• Mid-career: Between 35 and 50 one is typically confronted with a plateaued career, where your maturity and experience are still valued but there is the nagging feeling of having lost the initial fire in the belly


Career stages

Late career: This is the stage where one relaxes a bit and plays an elderly role, offering advice to younger ones as to how to avoid career mistakes and grow continually.

Decline: This is the stage where one is constantly reminded of retirement, after a series of hits and misses.

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Career anchors


These are distinct patterns of self-perceived talents, attitudes, motives and values that guide and stabilise a person’s career after several years of real world experiences.

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Career planning


Career planning is the process by which one selects career goals and the path to achieve those goals. Career planning, it should be noted here, is a prerequisite to effective human resource planning.

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Identify individual needs and aspirations

Analyse career opportunities

Align employee needs with available career opportunities

Develop action plans

Carry out periodic review


The process of career planning

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Career Development


Career development consists of the personal

actions one undertakes to achieve a career plan.

The actions for career development may be

initiated by the individual himself or by the

organisation

Individual career development: Some of the

important steps that could help employees

achieve their career goals could be listed thus;

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Performance

Exposure

Networking

Leveraging

Loyalty

Mentors and sponsors

Key subordinates

Expanding capabilities over timeCareer And Succession Planning

Individual career development

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Organisational career development:

organisations could help promote

individual careers through a series of well

planned moves. These include:


Career Development

Cont…

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4. Employee assessment programmes

Assessment centres

Psychological tests

Promotability forecasts

Succession planning

5. Employee developmental programmes

6. Career programmes for special groups


Career Development

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Career management includes both organisational actions and individual efforts aimed at setting career goals, formulating and implementing strategies and monitoring the results.


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Advantages And Limitations Of Career Planning

Career planning offers significant benefits to both the individual and

the organisation. The employee has advance knowledge of

available career opportunities. He or she can set appropriate career

goals and plan to achieve them over a period of time.

Organisations, too, can separate the stars from the mediocre and

reward the efforts of those who are hard working and talented. This

would, in turn, improve employer-employee relations.

On the negative side, for small scale units, career planning may

prove to be a difficult and costly exercise. Sometimes, local laws,

union pressures could upset career planning efforts. Not every

company would be able to resolve all career related issues

successfully.

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Effective Career Planning

Effective career planning depends on a number of factors such as

Effective career planning Ensuring top management support

Setting appropriate corporate goals for human resources

Offering rewards for good performance

Placing employees depending on their talents, career aspirations etc

Laying down suitable career paths for all employees

Monitoring continuously to find where the organisation stands

Giving publicity to career related issues and actions

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Succession Planning

The basic purpose of succession planning is to identify

and develop people to replace current job holders in key

positions.

Through succession planning organisations ensure a

steady flow of internal talent to fill important vacancies.

Succession planning encourages “hiring from within” and

creates a healthy environment where employees have

careers and not merely jobs.

It should be noted here that career planning (which

covers executives at all levels), by its very nature,

includes succession planning (which covers key positions

at higher levels)

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Replacement Chart

Department : Finance Date:Prepared By :

Senior Equity Analyst

Raja Ram (59)

A1 Rajat Gupta (44)B 1 Shyam Lal (38)

Bond Specialist

Nirmala (31)

A 1 Balraj S ingh (26)B 1 Neelam (28)

Chart for 2

pos

ition

s

Replacement Summary for ‘Senior Equity Analyst’

Job holder : Raja Ram A ge : 59Opening : In 3 Years Reason : RetirementSalary Grade : 25,000-35,000 Experience : 12 Years

Candidate 1Name : Rajat Age : 44 YearsDesignation : Equity Analyst Experience : 6 YearsPerformance : Outstanding Reason : ‘Star ’ in the dept.Grade : 18,000-25,000 Promot- : Ready now for

ability promotionCandidate 2Name : Shyam Lal Age : 38 YearsDesignation : Equity Analyst Experience : 3 YearsPerformance : Outstanding Reason : N eeds more

experienceGrade : 13,000-18,000 Promot- : Can wait for

ability 2 Years

Explanations:A . Ready for promotion 1. Outstanding performanceB. Needs more experience 2. Acceptable performanceC. Not suitable for job 3. Poor performance



Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years




Raja Ram (59)


Bond Specialist

Nirmala (31)


Chart for 2

pos

ition

s






ability 2 Years


A replacement chart is a visual representation of who will replace whom if

there is a job opening

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Succession Management

Succession management focuses attention on creating and stocking pools of candidates with high leadership potential. It assures that key people are not just identified but also nurtured and developed into future leadership roles

Steps in succession management Identifying the shortage of leadership skills and defining the requirements

Identifying potential successors for critical positions

Coaching and grooming the 'star performers'

The interesting case of BAJAJ AUTO

Arm your successor

Begin at the edges

Start succession early

Prepare the organisation.