Career and career management

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  • 1. CAREER AND CAREER MANAGEMENT 11-1
  • 2. 11-2 The concept of career A career comprises of a series of work related activities, that offer continuity, order and meaning to a persons 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 ones career, therefore, depends on the individual more than anything else. Career And Succession Planning
  • 3. 11-3 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. Career And Succession Planning
  • 4. 11-4 Career stages A career includes many positions, stages and transitions just as a persons life does. Career And Succession Planning H ig h L o w 2 5 3 5 5 0 6 0 7 0 Performance E x p lo r a t io n E s t a b li s h - M id c a r e e r L a t e c a r e e r D e c l in e m e n t F r o m c o ll e g e F ir s t jo b W ill p e r f o r m a n c e T h e e ld e r P r e p a r in g t o w o r k a n d b e i n g i n c r e a s e o r s t a t e s p e r s o n f o r a c c e p t e d b e g in t o r e t i r e m e n t d e c l in e ? A g e
  • 5. 11-5 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 bellyCareer And Succession Planning Career stages
  • 6. 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.
  • 7. 11-10 Career anchors Career And Succession Planning These are distinct patterns of self- perceived talents, attitudes, motives and values that guide and stabilise a persons career after several years of real world experiences.
  • 8. 11-11 Career planning Career And Succession 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.
  • 9. 11-12 Identify individual needs and aspirations Analyse career opportunities Align employee needs with available career opportunities Develop action plans Carry out periodic review Career And Succession Planning The process of career planning
  • 10. 11-13 Career Development Career And Succession Planning 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;
  • 11. 11-14 Performance Exposure Networking Leveraging Loyalty Mentors and sponsors Key subordinates Expanding capabilities over timeCareer And Succession Planning Individual career development
  • 12. 11-19 Organisational career development: organisations could help promote individual careers through a series of well planned moves. These include: Career And Succession Planning Career Development Cont
  • 13. 11-20 4. Employee assessment programmes Assessment centres Psychological tests Promotability forecasts Succession planning 5. Employee developmental programmes 6. Career programmes for special groups Career And Succession Planning Career Development
  • 14. 11-23 Career management includes both organisational actions and individual efforts aimed at setting career goals, formulating and implementing strategies and monitoring the results. Career And Succession Planning
  • 15. 11-24 Career And Succession Planning 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.
  • 16. 11-25 Career And Succession Planning 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
  • 17. 11-26 Career And Succession Planning 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)
  • 18. 11-27 Career And Succession Planning Replacement Chart D e p a r t m e n t : F i n a n c e D a t e : P r e p a r e d B y : S e n i o r E q u i t y A n a l y s t R a j a R a m ( 5 9 ) A 1 R a j a t G u p t a ( 4 4 ) B 1 S h y a m L a l ( 3 8 ) B o n d S p e c i a l i s t N i r m a l a ( 3 1 ) A 1 B a l r a j S i n g h ( 2 6 ) B 1 N e e l a m ( 2 8 ) Chartfor2positions R e p l a c e m e n t S u m m a r y f o r S e n i o r E q u it y A n a ly s t J o b h o l d e r : R a j a R a m A g e : 5 9 O p e n i n g : I n 3 Y e a r s R e a s o n : R e t i r e m e n t S a l a r y G r a d e : 2 5 , 0 0 0 - 3 5 , 0 0 0 E x p e r i e n c e : 1 2 Y e a r s C a n d i d a t e 1 N a m e : R a j a t A g e : 4 4 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 6 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : S t a r i n t h e d e p t . G r a d e : 1 8 , 0 0 0 - 2 5 , 0 0 0 P r o m o t - : R e a d y n o w f o r a b i l i t y p r o m o t i o n C a n d i d a t e 2 N a m e : S h y a m L a l A g e : 3 8 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 3 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : N e e d s m o r e e x p e r i e n c e G r a d e : 1 3 , 0 0 0 - 1 8 , 0 0 0 P r o m o t - : C a n w a i t f o r a b i l i t y 2 Y e a r s E x p l a n a t i o n s : A . R e a d y f o r p r o m o t i o n 1 . O u t s t a n d i n g p e r f o r m a n c e B . N e e d s m o r e e x p e r i e n c e 2 . A c c e p t a b l e p e r f o r m a n c e C . N o t s u i t a b l e f o r j o b 3 . P o o r p e r f o r m a n c e D e p a r t m e n t : F i n a n c e D a t e : P r e p a r e d B y : S e n i o r E q u i t y A n a l y s t R a j a R a m ( 5 9 ) A 1 R a j a t G u p t a ( 4 4 ) B 1 S h y a m L a l ( 3 8 ) B o n d S p e c i a l i s t N i r m a l a ( 3 1 ) A 1 B a l r a j S i n g h ( 2 6 ) B 1 N e e l a m ( 2 8 ) Chartfor2positions R e p l a c e m e n t S u m m a r y f o r S e n i o r E q u it y A n a ly s t J o b h o l d e r : R a j a R a m A g e : 5 9 O p e n i n g : I n 3 Y e a r s R e a s o n : R e t i r e m e n t S a l a r y G r a d e : 2 5 , 0 0 0 - 3 5 , 0 0 0 E x p e r i e n c e : 1 2 Y e a r s C a n d i d a t e 1 N a m e : R a j a t A g e : 4 4 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 6 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : S t a r i n t h e d e p t . G r a d e : 1 8 , 0 0 0 - 2 5 , 0 0 0 P r o m o t - : R e a d y n o w f o r a b i l i t y p r o m o t i o n C a n d i d a t e 2 N a m e : S h y a m L a l A g e : 3 8 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 3 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : N e e d s m o r e e x p e r i e n c e G r a d e : 1 3 , 0 0 0 - 1 8 , 0 0 0 P r o m o t - : C a n w a i t f o r a b i l i t y 2 Y e a r s E x p l a n a t i o n s : A . R e a d y f o r p r o m o t i o n 1 . O u t s t a n d i n g p e r f o r m a n c e B . N e e d s m o r e e x p e r i e n c e 2 . A c c e p t a b l e p e r f o r m a n c e C . N o t s u i t a b l e f o r j o b 3 . P o o r p e r f o r m a n c e D e p a r t m e n t : F i n a n c e D a t e : P r e p a r e d B y : S e n i o r E q u i t y A n a l y s t R a j a R a m ( 5 9 ) A 1 R a j a t G u p t a ( 4 4 ) B 1 S h y a m L a l ( 3 8 ) B o n d S p e c i a l i s t N i r m a l a ( 3 1 ) A 1 B a l r a j S i n g h ( 2 6 ) B 1 N e e l a m ( 2 8 ) Chartfor2positions R e p l a c e m e n t S u m m a r y f o r S e n i o r E q u it y A n a ly s t J o b h o l d e r : R a j a R a m A g e : 5 9 O p e n i n g : I n 3 Y e a r s R e a s o n : R e t i r e m e n t S a l a r y G r a d e : 2 5 , 0 0 0 - 3 5 , 0 0 0 E x p e r i e n c e : 1 2 Y e a r s C a n d i d a t e 1 N a m e : R a j a t A g e : 4 4 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 6 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : S t a r i n t h e d e p t . G r a d e : 1 8 , 0 0 0 - 2 5 , 0 0 0 P r o m o t - : R e a d y n o w f o r a b i l i t y p r o m o t i o n C a n d i d a t e 2 N a m e : S h y a m L a l A g e : 3 8 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 3 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : N e e d s m o r e e x p e r i e n c e G r a d e : 1 3 , 0 0 0 - 1 8 , 0 0 0 P r o m o t - : C a n w a i t f o r a b i l i t y 2 Y e a r s E x p l a n a t i o n s : A . R e a d y f o r p r o m o t i o n 1 . O u t s t a n d i n g p e r f o r m a n c e B . N e e d s m o r e e x p e r i e n c e 2 . A c c e p t a b l e p e r f o r m a n c e C . N o t s u i t a b l e f o r j o b 3 . P o o r p e r f o r m a n c e D e p a r t m e n t : F i n a n c e D a t e : P r e p a r e d B y : S e n i o r E q u i t y A n a l y s t R a j a R a m ( 5 9 ) A 1 R a j a t G u p t a ( 4 4 ) B 1 S h y a m L a l ( 3 8 ) B o n d S p e c i a l i s t N i r m a l a ( 3 1 ) A 1 B a l r a j S i n g h ( 2 6 ) B 1 N e e l a m ( 2 8 ) Chartfor2positions R e p l a c e m e n t S u m m a r y f o r S e n i o r E q u it y A n a ly s t J o b h o l d e r : R a j a R a m A g e : 5 9 O p e n i n g : I n 3 Y e a r s R e a s o n : R e t i r e m e n t S a l a r y G r a d e : 2 5 , 0 0 0 - 3 5 , 0 0 0 E x p e r i e n c e : 1 2 Y e a r s C a n d i d a t e 1 N a m e : R a j a t A g e : 4 4 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 6 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : S t a r i n t h e d e p t . G r a d e : 1 8 , 0 0 0 - 2 5 , 0 0 0 P r o m o t - : R e a d y n o w f o r a b i l i t y p r o m o t i o n C a n d i d a t e 2 N a m e : S h y a m L a l A g e : 3 8 Y e a r s D e s i g n a t i o n : E q u i t y A n a l y s t E x p e r i e n c e : 3 Y e a r s P e r f o r m a n c e : O u t s t a n d i n g R e a s o n : N e e d s m o r e e x p e r i e n c e G r a d e : 1 3 , 0 0 0 - 1 8 , 0 0 0 P r o m o t - : C a n w a i t f o r a b i l i t y 2 Y e a r s E x p l a n a t i o n s : A . R e a d y f o r p r o m o t i o n 1 . O u t s t a n d i n g p e r f o r m a n c e B . N e e d s m o r e e x p e r i e n c e 2 . A c c e p t a b l e p e r f o r m a n c e C . N o t s u i t a b l e f o r j o b 3 . P o o r p e r f o r m a n c e D e p a r t m e n t : F i n a n c e D a t e : P r e p a r e d B y :...