Compensation Management and Globalization
This module has covered topics related to compensation management and discussed the topic from a variety of perspectives. To close the compensation management module, here are some thoughts on where the corporate world is headed worldwide in the context of the ongoing global economic crisis and how the corporates are addressing the needs of their […]
What is Work Life Balance and How Organizations Can Help Employees Avoid Burnout
Why Work Life Balance and Employee Wellbeing Became Hot Issues in Recent Times Of late, the topic of burnout and employee health at the workplace have become hot issues that need the attention of organizations, the employees themselves, and the associated stakeholders such as the Human Resources (HR) professionals and the psychologists who are often […]
Role of Communication in Knowing Employees
It is essential for managers to know their employees well to expect loyalty and commitment in return. Employees need to feel comfortable at the workplace for them to deliver their level best. It is completely unprofessional to address your employees as “Mr”,“Ms”” or “hey”. There is absolutely no need to address them as “Sir“ or […]
How Does Employee Engagement affect Financial Performance of a Company ?
Experts say that the engagement, involvement and satisfaction of the employees should be the biggest concern of the organisations. When they are actively engaged, it can directly affect the productivity and financial standing of the company. While it may not directly add to your profits but it certainly helps in several indirect ways. There are […]
Entrepreneurial Ecosystem
What is an Entrepreneurial Ecosystem? All of us are endowed with skills, abilities, and capabilities. However, the reason why some of us are so successful whereas others languish is mainly due to the way in which these traits are nurtured, encouraged, and enabled. For instance, we need to go to the right schools, have supportive […]
Organizational career development process includes both individuals and institutions. Individuals plan their own careers whereas institutions or organizations manage the careers of the employees.
Career planning by an individual includes several sub processes such as occupational choices, organizational choices, job assignment choices and career self-development. While the major sub processes of career management by organizations include recruitment and selection, human resource allocation, appraisal and evaluation and training and development.
In order to have effective career development attempts by the organizations, designing automated career development systems plays a crucial role as it integrates a series of activities related to individual career planning and organizational career management involving employees, management and the organization.
An individual’s career is a series or sequence of work-related activities as well as his or her future aspirations. It is affected by several factors such as his or her behaviour, attitude, values, ambitions and desires and opportunities and threats and weaknesses and strengths plus the outer environment and economic conditions. It is a deliberate process followed by an individual depending upon his or her desires and aspirations over the span of one’s life.
Career management is an ongoing process that takes into account a particular job title or designation while preparing, implementing and monitoring succession planning depending upon the future requirements of an organization.
Obviously, it also takes human factors in account but the entire process is directed and operated as per the needs and convenience of an organization. The best planning takes into account both organization’s and individual’s aspirations and creates a perfect mix where both the parties can be benefited.
Designing career development systems according to specific needs and requirements of an organization can help HR specialists in bringing efficiency to the entire process of career management. Since the system tries to integrate all the activities of an employee, management as well as an organization, it has to be tailor-designed. There is nothing that fits all since the nature of the every business is different and aspirations of every employee in every industry are different.
Most companies along with career management programs also involve career assessment process by the employee. If they have supportive environment such as a facilitator and properly automated system, they will properly assess their careers and fill genuine information about themselves.
Most organizations such as Xerox, IBM, Wal-Mart, Lincoln electric and Bell Atlantic have their own specific career development systems. Along with this, they provide their employees with supportive environment and a culture that supports the whole process of career development. This is the reason why these companies are considered as the best places to work. Since they manage the careers of their employees seriously and treat them as the most valuable assets of the organization, a very high percentage of university graduates prefer joining them even if they offer low compensation.
While designing career development system for an organization, the nature of their business, the industry and the business environment they are operating in should also be considered. Although it is an internal process of an organization but outer environment factors such as job market, current trends, economic conditions, etc affect the entire process.
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Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
