What Is Career Planning

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Career planning involves matching an individual’s career goals with opportunities existing in the organization.For career planning to be flourishing, the organization, and the individual should presume accountability for it. The organization should identify its own requirements and opportunities, and offer training and career information to its employees. The individual should recognize his goal, aptitude, and recognize what training, and development is essential for a specific career path.

Career planning is a practical method to meet the organizations internal staffing necessities. When companies promote career planning, employees are too motivated to pursue additional education, and training. Workforce has certain expectations from the organization concerning their career development. These are Career equity, Supervisory concern, awareness of career opportunities, and Assessment of potential.

Advantages of Career Planning

There are several benefits of career planning such as:
•    It decreases turnover since the organization’s concern for employee results in higher employee faithfulness.
•    It facilitates to build an internal team of promotable employees.
•    It encourages employees to develop.
•    It taps employee skills by providing them with explicit career objectives.
•    It satisfies employee requirements for acknowledgment and achievement.

Succession Planning

Organizational endurance and expansion are the vital tasks of the top management of every organization. These tasks can be satisfied by planning management succession to make certain the accessibility of the correct kind of management personnel at the right time and in the exact positions to provide for constant organizational strength.

Succession planning is completed in three timeframes:

•    Immediate : Within 1 year
•    Intermediate : 1-5 years
•    Long range : Beyond 5 years

Advantages of Succession Planning

•    Builds relation in addition to, cautiously study the behavior and performance of successors over an extended period.
•    Carry out a SWOT analysis of the company to find out its leadership requirements currently and in the upcoming years.
•    Give a sense of stability, direction, and expectations for every key stakeholder: shareholders, customers, employees, and vendors.
•    Build up a planned leadership Human Resource Plan that consists of plans to bridge the gaps, need analysis, and complete position descriptions.
•    Keep hold of key employee who may otherwise leave if not properly acknowledged as the successor.