A Study On Career Planning And Development Of Employees In Banks

Table of Contents

A Study On Career Planning And Development Of Employees In Banks

MEANING OF CAREER:

A Career has been defined as the sequence of a person’s experiences on different jobs over the period of time. It is viewed as fundamentally a relationship between one or more organizations and the individual. To some, a career is a carefully worked out plans for self-advancement to others it is a calling-life role to others it is a voyage to self-discovery and to still others it is life itself.

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”.

According to Garry Dessler, “The occupational positions a person has had over many years”.

Many of today’s employees have high expectations about their jobs. There has been a general increase in the concern of the quality of life. Workers expect more from their jobs than just income. A further impetus to career planning is the need for organizations to make the best possible use of their most valuable resources the people in a time of rapid technological growth and change.

CAREER DEVELOPMENT

Career development, both as a concept and a concern is of recent origin. The reason for this lack of concern regarding career development for a long time has been the careless, unrealistic assumption about employees functioning smoothly along the right lines, and the belief that the employees guide themselves in their careers. Since the employees are educated, trained for the job, and appraised, it is felt that the development fund is over. Modern personnel administration has to be futuristic, it has to look beyond the present tasks since neither the requirements of the organization nor the attitudes and abilities of employees are constant. It is too costly to leave ‘career’ to the tyranny of time and casualty of circumstances, for it is something which requires to be handled carefully through systematization and professional promoting. Fortunately, there has lately been some appreciation of the value of career planning and acceptance of the validity of career development as a major input in organizational development.

Career development refers to a set of programs designed to match an individual’s needs, abilities, and career goals with current and future opportunities in the organization. Where career plan sets career path for an employee, career development ensures that the employee is well developed before he or she moves up the next higher ladder in the hierarchy.

CAREER PLANNING

Career Planning is a relatively new personnel function. Established programs on Career Planning are still rare except in larger or more progressive organizations. Career Planning aims at identifying personal skills, interest, knowledge, and other features; and establishes specific plans to attain specific goals.

Aims and Objectives of Career Planning:

Career Planning aims at matching individual potential for promotion and individual aspirations with organizational needs and opportunities. Career Planning is making sure that the organization has the right people with the right skills at the right time. In particular, it indicates what training and development would be necessary for advancing in the career-altering the career path or staying in the current position. Its focus is on future needs and opportunities and removal of stagnation, obsolescence, the dissatisfaction of the employee.

OBJECTIVE OF CAREER PLANNING

To attract and retain the right type of person in the organization.
To map out the career of employees suitable for their ability and their willingness to be trained and developed for higher positions.
To have a more stable workforce by reducing labor turnover and absenteeism.
It contributes to manpower planning as well as organizational development and effective achievement of corporate goals.
To increasingly utilize the managerial talent available at all levels within the organization.
To improve employee morale and motivation by matching skills to job requirement and by providing opportunities for promotion.
It helps the employee in thinking of long term involvement with the organization.
To provide guidance and encourage employees to fulfill their potentials.
To achieve higher productivity and organizational development.
To ensure better use of the human resource through more satisfied and productive employees.
To meet the immediate and future human resource needs of the organization on a timely basis.

NEED FOR CAREER PLANNING

To desire to grow and scale new heights.
Realize and achieve the goals.
Performance measure.
High employee turnover.
To educate the employees
It motivates employees to grow.
It motivates employees to avail training and development.
It increases employee loyalty as they feel organization care’s about them.

ADVANTAGES OF CAREER PLANNING AND DEVELOPMENT

In fact, both individuals and the organization are going to benefit from career planning and development. So the advantages are described below:

For Individuals

The process of career planning helps the individual to have knowledge of various career opportunities, his priorities, etc.
This knowledge helps him select the career that is suitable to his lifestyles, preferences, family environment, the scope for self-development, etc.
It helps the organization identify internal employees who can be promoted.
Internal promotions, up gradation and transfers, motivate the employees, boost up their morale and also result in increased job satisfaction.
Increased job satisfaction enhances employee commitment and creates a sense of belongingness and loyalty to the organization.
The employee will await his turn of promotion rather than changing to another organization. This will lower employee turnover.
It improves employee’s performance on the job by taping their potential abilities and further employee turnover.
It satisfies employee esteem needs.

For Organizations

A long-term focus on career planning and development will increase the effectiveness of human resource management. More specifically, the advantages of career planning and development for an organization include:

Efficient career planning and development ensures the availability of human resources with the required skill, knowledge, and talent.
Efficient policies and practices improve the organization’s ability to attract and retain highly skilled and talented employees.
Proper career planning ensures that women and people belonging to backward communities get opportunities for growth and development.
The career plan continuously tries to satisfy the employee expectations and as such minimizes employee frustration.
By attracting and retaining people from different cultures, enhances cultural diversity.
Protecting employees’ interest results in promoting organizational goodwill.