Career Management is defined as a constant process of investing resources in order to attain career objectives. It is considered as a self-monitored method of career planning which is composed of selecting and forming personal objectives and also creating schemes for accomplishing these goals.
It is not only a single event but also an ongoing process that is quite fundamental for adapting to the altering demands or needs of the contemporary economy.
Career Management is also known as the valuable process for allowing employees to develop and further understand their interests and skills and accurately guide them on how to utilize these interests and skills more efficiently.
This process makes use of important concepts which are identical to stable financial management. It is wise to remember that a disciplined investment which is established on a normal basis actually produces greater return. Even though plans may differ, career management aims attention at the two valuable investment assets to handle all through our working years; that is, our chain of relationships as well as our personal lifetime learning.
Key Components or Key Principles of Career Management
Create goals. The bottom line of career management is in having a deeper understanding of what you’re trying to obtain. And, to many people, this is deemed as the most difficult part. Every objective must be classified into tasks that, once settled, will greatly aid attain the objective. A timeline can then be formulated to properly keep track of every single step of the journey.
Monitoring objectives. Keeping track of your progress is a useful and fulfilling scheme. Career management is comprised of regular checking of created goals as well as the development being made. Indeed, this significantly aids avert stagnation and thus assures that career objectives are being systematically consolidated into the rest of your existence.
Course Correcting. It is vital to note that career objectives will alter and develop just as you do. Career management process involves keeping track and adapting them as required. Every step along the way will considerably improve your understanding of what you aspire and how to reach that goal. As you carry on, the career management process will aid you to determine new paths and new objectives.
Career management methods associated to performance management program must be based upon and developed by employing the following principles:
Employees are accountable for their very own career management. Meanwhile, the worker’s current manager is accountable for acquainting himself/herself regarding the worker’s aspirations and how these can be accurately met.
The manager must be kept updated with the job, development and training opportunities that will further aid in meeting the goals of the employee and that of the organization.
The manager must also support the employees’ hard work to avail him/her to the opportunities.
Managers have a responsibility to respect employees whose careers have been thwarted by no fault of their own, for example, workers who are physically-challenged.
The Benefits of Career Management
Career Management is very advantageous to both the individual and the entire organization.
The Benefits to the individual:
Career Management programs aid a person develop a deeper understanding of his/her career path inside the organization and it also provides excellent tools that will help leverage one’s strength and position yourself for more career advancements.
Direct interactions and customized service with a very committed career consultant offers an individual with practical and effective skills to proficiently manage your career.
Career Management programs increase your engagement and motivation towards your executive or employer.
They aid you to advance in your career by means of:
determining your interests, career goals and skills
providing you an opportunity to discover new work potentials
improving a more customized career action plan
offering you with follow-up techniques to guarantee that your goals are suitable with your career objectives
The Benefits to the organization:
Providing your workers with career management services strengthens your organization’s reputation as a worker of choice.
Career management services also offers employees with a solid instance of your company’s desire to strengthen them all through every stage of their career.
Career management programs being part of the entire employee advancement program positions your organizational success in countless ways:
developing workers who will work harder or exert more effort to do great and understanding the perks of establishing a partnership with their superiors.
obtaining the rewards of a work force which has been provided the tools required to leverage their tenacity.
boosting employees’ morale through aiding them envision their career inside your organization.
looking after your Human Resources Group who must engage, retain, promote and terminate workers.
advancing the knowledge needed in order to maximize employee satisfaction and commitment.
obtaining employee support for the pursuit of business goals and tactics.
Additional Perks of Career Management
Improved employee involvement levels.
Workers have greater dedication to their work. As employees realize how skillful performance in their occupations benefits them personally, this triggers them to become more devoted to high quality performance.
Workers obtain greater commitment to the entire organization. Workers no longer see their employment as merely a financial contract for tasks executed. They already understand and recognize their employment as an essential partnership for accomplishing their goals.
Better enhanced recruiting. This refers to the reality that attracting new employees becomes as effortless as the organization builds a name as an employer of choice.
More practical succession planning.
Stability of the organization- bench strength roots from employees who are devoted to their career development.
Long-range viability- it is valuable to understand that a workforce developing at all levels guarantees a continuous inventory of internal talent.
Capacity for expansion- highly-skilled workers allows the organization to expand their operations and benefit from the opportunities as they arrive.
Better Employee-Manager Relationship- this refers to a manager’s coaching relationship towards workers that builds stronger relationships and mutual victory as individuals advance to higher levels.
Culture of accomplishment- it is worthy to note that a workforce of continuously developing individuals forms greater expectations.
Greater creativity- heightened exposure to training, education as well as new experiences considerably improves workers’ creativity.
Culture of learning- in managing career, it is necessary to obtain knowledge and the acquisition of advance skills. When this becomes a usual activity, a culture of learning takes place.
More efficient workforce improvement initiatives- essentially more worthwhile training and professional improvement opportunities put on more meaning when they are part of a worker’s career development plans.
Exit Management- in the event that an organization requires to discharge several employees, the staff members who are actively engaged with their career development will obtain more chances to pursue and be more equipped or prepared to pursue them.
Greater chances of boomerang returnees- workers who leave the firm for career development are more apt to return to the firm. When they return, they will bring more advance knowledge and vast experience.
Understanding other people’s jobs- it is helpful to note that Career Planning enables individuals to discover other occupations and recognize the skills that are needed to execute them. This type of exposure will lead to a clearer understanding of the whole organization.
Workers who are involved in this valuable process of developing their capabilities and skills build better organizational capacity. In the same way, this maximized capability provides organizations more capability to take advantage of new opportunities, be more creative and more stable.
Career management systems can also lead to reduction in the need to hire externally due to the fact that workers with the required abilities are discovered by means of their career planning activities.
The Key Steps in Implementing Career Management
Career planning and development must not be performed in isolation. But instead, it should be consolidated with the business of filling administrative roles with skilled managers who function toward the attainment of the company’s goals. In line with this, the strategy is to suit individual strengths and organizational opportunities.
In particular, a successful career planning approach comprise of the following steps:
Preparing a personal profile. That is, be sure to know yourself really well.
Developing long-range personal as well as professional objectives.
Determining and assessing the current environment, particularly the threats and the opportunities.
Foretelling and creating predictions inside and outside the firm; that is, identifying opportunities and threats.
Determining and examining personal strengths and weaknesses.
Developing strategic career options.
Examining constancy of strategies and reassessment of career goals.
Assessing and selecting from alternatives.
Developing short-term goals and action plans.
Developing contingency plans.
Employing the career plan.
Keeping track of progress.
The task of formulating career goals is guided by the following:
Individual career goals must contribute to organizational purposes. After all, a firm will administer an individual’s career goals only to the extent it can fill the bill from this support.
The short-range goals must contribute to the long-range professional objectives.
Goals must also point out priorities.
Career objectives must be challenging, yet, they must also be realistic.
Goals must be confirmable and be expressed more clearly in black and white in order for an individual to evaluate attainment or nonattainment of goals.
Career goals must be concerted with the superior. In the same way, career planning must be a consolidated effort of the individual as well as the superior or the other representatives of the organization. As expected, if the career plan provides for altering to another company, consolidated planning might not be possible.
Goals must offer feedback and follow-up. Consider the fact that specific discussion is particularly essential when the superior was a very active partner in advancing the subordinate’s career plan.
The Relevant Methods, Tools, Framework or Strategies in Career Management
Make sure that you update your resume at least once in a year. You may consider utilizing your yearly performance review as a useful reminder.
Form a LinkedIn profile and always keep it up-to-date and also ensure that you have updated professional picture.
Establish your network. Keep in mind that networks have to be regularly added to and sustained. Furthermore, everyone you meet is a possible valuable contact. Practice to offer a Link up. Networking does not only revolve around looking for people who can help you but it’s also about helping other people. Most often, the one you helped once will also be the one who can help you in the future.
Keep your career management tools and strategies updated.
Create marketable skills. Remember that each job and each project gives you the chance to explore. Discuss with your manager to come up with an individual development plan that offers you great opportunities to improve and grow.
Learn and discover what’s marketable. Bear in mind that not all skills are regarded as marketable. You can subscribe to various job alerts related to your field and go over the position requirements.
Be courteous and good to recruiters. Always work harder to create a good impression.
Consider being a speaker at meetings or conferences in your profession.
Establish your very own personal brand. There are different ways on how you can be exposed; for instance, you can consider social networking sites. Everyone gets various opportunities to have countless of people across the globe to get to know them. However, be extra careful for exposure can either help or hurt you.
Be sure to manage your finances smartly. Most often, it takes about three to six months to finally land a job or other times it may be longer. So wise budgeting works wonders.