11-2
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
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
11-4
Career stages
A career includes many positions, stages and transitions just as a
person’s life does.
Career And Succession Planning
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
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 belly
Career And Succession Planning
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.
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 person’s career after several years of real world experiences.
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.
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
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;
11-14
Performance
Exposure
Networking
Leveraging
Loyalty
Mentors and sponsors
Key subordinates
Expanding capabilities over timeCareer And Succession Planning
Individual career development
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…
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
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
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.
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
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)
11-27
Career And Succession Planning
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
A replacement chart is a visual representation of who will replace whom if
there is a job opening
11-28
Career And Succession Planning
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.