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8/3/2019 3rd Chap Career Planning & Development
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CAREERPLANNING &
DEVELOPMENT
PROVIDING
EMPLOYEES THEASSISTANCE TO
FORM REALISTIC
CAREER GOALS & THEOPPORTUNITIES TO
REALISE THEM
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Job vs. Career
Job What can I do now to make money?
Career Chosen Profession for your life. Requires awillingness to get the training needed to build yourskills for the future.
It is the sequence of jobs that an individual hasheld throughout his or her working life.
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Career planning
consists of
activities and
actions that you
take to ach
ieveyour individual
career goals
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Career Planning Involves matching an
individuals career aspirations with theopportunities available in an organization.
Career Pathing the sequencing of the specific
jobs associated with the opportunities availablein the organization.
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Succession planning tends to be directed
towards a longer range time horizon & is
more focused on development. It is also moreconcerned with the development of pools of
potential replacement.
AS
uccession Plan involves identification ofvacancies that are likely to occur in the higherlevels & locating the probable successors.
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Succession of person is to fill key positionwhich are essential for the survival & success
of an organization. Succession planning isgenerally required for higher levelexecutives.
The purpose of Succession planning is toidentify & develop people to replace current
incumbents in key position in the cases of
resignation, retirement, promotion,expansion, & creation of new position.
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Engage senior magt in a disciplined review oforganizational talent
Guide to development activities of staff
Assures continuity of key positionsAvoid transition problems
New managers prepared for their job
Establishment of recruitment strategyDeveloping strategies for developmet plans
Establishment of retention plan
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Assessment of keyposition
Identification ofkey talent
Assessment of keytalent
Generation ofdevelopment plan
Developmentmonitoring &
review
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Cyrus P Mistry:
Tata Sons'
deputy chairmana reticent man
with strategic
vision, humility
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In August, 2010, the board of directors of TataSons, formed a selection committee, comprising
five members for deciding on a suitable successorto Ratan Tata, who is due to retire in December2012. Tata Sons is the promoter of all key Tatacompanies and holds the bulk of shareholding in
these companies.The chairman of Tata Sons hastraditionally been the chairman of the Tata group.Various candidates, including Tata's half-brotherand son-in-law of Pallonji Mistry, Noel Tata and
PepsiCo Chairperson Indra Nooyi were speculatedto succeed Ratan Tata.
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On November 23, 2011, Mistry was namedas the Deputy Chairman as a result of a
unanimous vote of the Tata Sons Board ofDirectors and selection committee. He willbegin serving as chairman when Tata retires
in December 2012. When Mistry begins serving in his new role
in 2012, it will be the second time in the
company's 143-year-old history that theTata group will have a non-Tata family
member as its chairman.
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In 1932, Sir Nowroji Saklatwala headed the groupas its third chairman till his death in 1938.SirNowroji was succeeded by JRD Tata, who headedthe group for 53 years before handing over thebaton to Ratan Tata in 1991. Sir Nowroji was thenephew of Tata Group chairman JamsetjiNusserwanji Tata and could assert himself aschairman, due to his family connections. JRD Tatawas not a direct descendant of JamsetjiNusserwanji Tata either. He was also related to theTata Group founder through his grandfather,Ratanji Dadabhoy Tata. While Mistry is not a Tatadescendant, his sister is married to Noel Tata,Ratan Tata's half-brother, who was considered as a
candidate to serve as chairman ofTata Group.