Running head: CAREER DEVELOPMENT: THE ROLES OF HR PROFESSIONALS
CAREER DEVELOPMENT: THE ROLES OF HR PROFESSIONALS
Career Development
Abstract
Career development is an increasingly critical component to an organization’s ability to meet its goals and challenges, retain profitability, and overall success. Today’s career development is mainly focused on self-analysis, development, and career management to allow employees to widen their skills and knowledge, and overall career path. Human Resource managers play an integral role in the employees’ career development process and it’s their responsibility to ensure proper career development channels are provided in order to achieve organizational goals. This paper discusses the factors that affect career development: effective employee training and development programs, components of effective retention and career development, human capital development, a career development planning model, and an employee relations program.
Introduction
In today’s modern industry, career development is among the key factors in a company’s success. Any company who do not have an effective and efficient career development program and who do not progress with technology can have a detrimental impact on the company’s profitability. Bliss and Associates Inc. gave an example of how to calculate the cost of employee turnover in any organization by including different costs such as: recruitment, training, lost productivity, new hire, and lost sales. The firm stated that assuming the average employee salary is $50,000 annually. “Taking the cost of turnover at 150% of salary, the cost of turnover is then $75,000 per employee who leaves the company” (Bliss, p. 1). Retention, on the other hand, reduces turnover costs and increases productivity, as well as engendering high customer loyalty and greater profitability (Finnegan et al., 12). Therefore, employee career development need to be carefully thought out and...