Career planning, particularly involvement of human resource management with it, gives manifold benefits to the organisation and to the individual employee. Here is the list of a few of those benefits (Werther and Davis (1996:317), :
Aligns strategy and internal staffing requirements. Human resource management can better prepare employees for anticipated job openings. It can make a better mix of the talents needed to support company strategies.
Develops promotable employees. Career planning helps develop internal supplies of promotable talent to meet openings caused by retirement, resignation , and growth. It ensures organizations to have competent and knowledgeable workforce in stock.
Facilitates international placement. Global organizations use career planning to help identify and prepare for placement across international borders.
Assists with workforce diversity. Employees with diverse backgrounds can learn about the organisation’s expectations for self-growth and development while human resource managers participate in assisting employees for career planning. This would benefit the individuals to choose rewarding targets and help the organizations to get right talented persons in time.
Lowers turnover. Human resource management gives increasing attention to and feels concern for the career planning of employees which in turn generates more organizational loyalty and lower employee turnover.
Taps employee potential. Human resource managers through interactive career planning can understand hidden potentials of the employees and can encourages employees to set targets to increase their potential abilities. This will, at the end, help organisation to tap most potential employee for future placement in competent positions.
Further personal growth. Support and counsel of human resource managers to employees for career planning motivate employees to grow and develop in right direction to assume prestigious status in future.
Reduces hoarding. Participation of human resource managers in career planning makes open the qualifications, talents, skills and potentials of employees to decision makers. This deters selfish managers to hoard key subordinates and refrain him/her them from getting right positions on time.
Satisfies employee needs. Employees get right training and development while they are assisted by the human resource managers to make their career plans. This ensures employees to get recognition and accomplishment of their desired status and needs.
Assist affirmative action plans. Organisation can assist employees from disadvantaged section of the society to set career plans for the upliftment of their qualities to get higher positions. It helps organisation executing affirmative action plans to comply with the legal and social obligations.
To realize these benefits, companies are supporting career planning through career education, information and counseling.
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