Alkesh Dinesh Mody Institute For Financial & Management Studies
Alkesh Dinesh Mody Institute For Financial & Management Studies
Alkesh Dinesh Mody Institute For Financial & Management Studies
Deshpande
Credits
• Akshata Gaikwad
18
• Rupali kamble 39
• Rahul Joshi 37
• Devendra Jain 38
• Sagar Karia 43
59
• Prasad Morae
INTRO
The term career planning is frequently used in relation young boys
and girls studying at the college level. College students are expected to
consider their qualities (physical and mental), psychological make-up,
likes and dislikes, inclinations, etc. and decide what they want to be in
their life. In other words, they should decide what they want to
achieve in their life and adjust their education and other activities
accordingly. This means they have to plan their career. In such career
planning, parents, family members and college teachers offer helping
hand and guide young boys and girls in selecting the most suitable
career. At present, even experts are available to help youth in their
career planning. IQ and other tests are also conducted for this purpose.
The term career planning and development is used extensively in
relation to business organizations. It is argued that if the organizations
want to get the best out of their employees, they must plan the career
development programmes in their organization effectively. Such
programmes offer benefits to employees and also to the organizations.
The employees will develop new skills will be available to the
organization. This type of career planning can be described as
organizational career planning.
MEANING OF CAREER (WHAT IS CAREER?):-
A career is a sequence of positions/jobs held by a person
during the course of his working life. According to Edwin B.
Flippo “a career is a sequence of separate but related work
activities that provide continuity, order and meaning to a person’s
life”. Career of an employee represents various jobs performed by
him during the course of his working life. This is described
• HUMAN RESOURCE
FORECASTING AND PLANNING:-
• CAREER INFORMATION:-
• CAREER COUNSELLING:-
Essentials to make career planning successful:
• Strong commitment of the top management in career planning and
development.
• Organization should develop, expand and diversify its activities in a
phased manner and accordingly assign responsibilities to employees.
• Organization should frame clear corporate goals and conduct career
development workshop.
• Organization should have committed, self motivated and hard
working employees and offer continuous education and training, at
various stages of employee’s careers.
• Organization goals in selection should be selecting that most
suitable employees and placing him in the right job.
• Organization should take care of the proper age composition and
experience of employees during manpower planning and selection.
• Organization should take steps to minimize career stress and offer
career counseling.
• Organization should have a fair promotion policy and job rotation
as it will help employees to acquire organizational knowledge and
knowledge of different jobs and department.
Characteristics of succession
planning:
• Balance between individuals and
organization:
• Broadening experience by Lateral
moves:
• Roles not jobs:
• Competencies:
• Links with business planning:
Need of succession planning:
• An ongoing supply of well trained, experienced, well
motivated people who are ready and able to step into key
positions as needed is ensured.
• A cadre of desirable candidates who are being goals
established for them to the organizational culture and
processes.
• Alignment of the future needs of the organization with
the availability of appropriate resources within the
organization.
• Define career paths, which will help the organization
recruit and retain better people.
• Positive goals of key personnel, which will help keep
them with the organization and assure continuous supply
of capable successors for each of the important position
included in the succession plan.
Employee retention:-
In today’s organizations have been introducing change to
cope with challenges of the environment and competition. Thus
human skills and talent are in great demand for which organizations
started offering attractive and competitive pay packages in order to
lure the employees with scares skills. This in turn has increased
external mobility, for which the organization have started adoption
strategies to retain employees with scares skills and talent.
Retention management thus acquired importance.
Retention management strategies:-
• Organization design and implement some of the following
strategies to retain employees:
• Offer competitive pay packages, benefits programme and social
security benefits as they work as “golden handcuffs.”
• Maintain congenial human relation, interpersonal dynamics and
employee recognition programmes.
• Take proactive measures to identify employee grievances,
dissatisfaction and frustration level and employ corrective measure.
• Use family involvement programme, family welfare programmes
and family recognition programmes.
• Employ measures to satisfy esteem needs and self actualization
needs of employees in addition to other needs.
• Develop the organization and its business in order to met
employees growing demand and goals.
• Encourage internal mobility and job changes through innovative
practices.
• Provides continuous training and development programmes.
• Provide efficient career planning and development programmes.
DISADVANTAGES/LIMITATIONS OF
CAREER PLANNING:-
• Career planning can become a reality when opportunities for
vertical ability are available. Therefore, it is not suitable for a very
small organization.
• In a developing country like India, environmental factors such
as government policy, public sector development, growth of
backward areas, etc. influence business and industry. Therefore,
career plans for a period exceeding a decade may not be effective.
• Career planning is not an effective technique for a large number of
employees who work on the shop floor, particularly for illiterate
and unskilled workers.
• In family business houses in India, members of the family expect
to progress faster in their career than their professional colleagues.
This upset the career planning process.
• Systematically career planning becomes difficult due to
favouritism and nepotism in promotions, political intervention in
appointments and reservations of seats for scheduled castes/tribes
and backward classes.
HOW TO INTRODUCE CAREER PLANNING PROGRAMME?
(PROCESS OF CAREER PLANNING):-
• JOB PERFORMANCE:-
• EXPOSURE:-
• EMPLOYEE DEVELOPMENT
PROGRAMMES:-
• CAREER PROGRAMMES FOR
SPECIAL GROUPS :-
• RESIGNATIONS:-
• CHANGE THE JOB:-
• CAREER GUIDANCE:-
Career Development Fundamentals of
LG:-
• Creativity and autonomy – An individual's creativity is the basis
for value creation. LG Electronics respects diversity and
autonomy, allowing each of its employees to exercise their
creativity to the full.
• Emphasis on competence - Competence is the basis for
performance. LG Electronics sees competence as the most
important factor in its personnel decisions.
• Performance-based rewards - Rewards based on performance
are essential for human motivation. LG Electronics evaluates
performance results fairly and rewards them accordingly.
• Equal opportunities - Equal opportunities build trust among
people. LG Electronics ensures equal opportunities regardless of
gender, race, age, religion, or nationality.
• Long-term perspective - Maintaining a long-term perspective is
the foundation for LG's human resources policies. LG's human
resources programs are designed with a long-term perspective and
implemented with dedication and persistence.
Career Development Fundamentals of LG
{contd} :-
• Training - LG Electronics offers diverse educational programs
to its employees according to rank and job to encourage growth
and development and mold them into "the right people" for the
company. They do this by equipping them with the professional
capabilities that the company needs and enabling them to apply
the latest technologies to their work.
• Rewards - LG Electronics offers its employees a competitive,
unique rewards system that takes account of their working
situations by nation, region, and job. This rewards system
motivates employees to perform better by helping them to
enhance their quality of life.
Latest Changes/ improvements:-
• In an innovative way to beat attrition, which had hit 30 percent across
the industrial sector, LG Electronics India took up a 5-year programme
to nurture the career of its white-collared employees.
• The company, which, over the years has managed to keep its attrition
rate at 6 per cent, kicked off the new programme for its executives this
month.
• Traditionally, LG had had low attrition rates but they are aware of how
to make its employees grow along with the company. The career
planning programme is aimed toward achieving that objective.
• "In this initiative all our employees will have to undergo an assessment
by experts who would help them identify their weak points," Yasho .V.
Verma, HR Director, LG Electronics India said, adding during the
course of the next five years they would be given thorough training in
those areas.
• He said a batch of 12 people will undergo a test for two days of
identification and training process, which would be based on hierarchy.
• "The senior employees will be assessed on the basis of their vision and
leadership abilities. The young people will be assessed as per their
functional capabilities," Verma added
Case study:-
Mr. Amar potdar is stenographer. He is working as P.A, to
production manager in VICTO Ltd., Borivali, Mumbai 400 092. he is
under graduate of 30 years, unmarried and from a poor middle class
family. However, he is hardworking, reasonably intelligent, capable
and also family. However, he is joined the company not for job but
for his career building and desires to be executive like higher status,
salary and challenging duties.
Amar was performing his job honestly, sincerely and efficiently,
his boss is satisfied with his work. Amar wants to move to higher
positions is this organization. His boss is aware of the ambition of Mr.
Amar and has a genuine desire to help him to learn, to grow and to
build up his career within a short period.
Two years ago that is in June 1994, one of his friends in Borivali
started evening classes for external degree of Mumbai University.
Amar joined evening batch which starts at 7p.m. and functions up to
10p.m.
amar is able to go regularly to the tuition class as his office hours
are from 10.30 a.m. to 6.00 p.m. his boss has agreed to relieve
Amar for his class by 6.00 p.m. on all working days. He also
offered some financial help to amar for his higher education. Mr.
Amar passed B.com examination with first class( with
specialization in accounts) in 1997. Thereafter, he continued his
education and took law degree. This is how he joined as
undergraduate and got additional qualification i.e. degrees in
commerce and law and diploma in marketing management.
In 2001, Mr. Amar thought that his company management will
consider his qualification loyalty to the organization and efficiency
in work will give him opportunity for advancement in executive
position. He waited for more than one year for positive response
from the management. His boss also recommended his name to
high position due to his qualification s and career consciousness.
Mr. amar wanted higher position in his company as (particularly
his boss) has given him certain facilities and concessions.
When all hopes for promotion/executive position proved false.
Amar got angry/annoyed and restless. He felt that there is no
appreciation of his loyalty and education and that the company
unfair to him he also started applying for higher position in other
companies. Finally, he very reluctantly left the organization and
joined other organization at higher position. His boss and co-
employees felt very sorry for joining the other company.
However, the general opinion was that Mr. Amar had no
alternative but to leave the company for better prospects. His
colleagues also felt that Mr. Amar is not a looser but the company
(VICTO LTD) is looser in real sense.
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