Career management in business - Essay Example

These consequently affect the performance of an organization. These contracts are in a moment of transition. In this way, organizational relationships are turning into transactional contracts. In transitional contract, security of assets is ensured by creating safe returns from uncertain returns. There are examples of these contracts which include intermediaries offer insurance to their customers. Others include commercial paper markets working together with intermediaries likened to money market mutual funds.

These changes in relationships have interfered with labour market within organization. Understanding intrapersonal and interpersonal relationships in organizations affects the means through which career management can be understood. It will influence individual career management and organizational career management (Kase and Zupan, 2007, 16-17; Gorton and Pennachi, 1988, 1-3). According to Adekola (2011, p100), a career is a lifelong process that constitute of a pattern of undertakings and related perspectives or conducts that happen in the life of a person as long as they are working.

It is also perceived as a sequence of experiences during work, such as work related decisions; job positions, duties, and work related events as interpreted subjectively by individuals, for example, values, aspirations, things hope for, needs and feelings work that prevail within the time an individual is working. The plan and execution of organizational processes that facilitate the careers to be intended and controlled in a way that satisfies completely both the what a person prefers as per their capabilities and they are also designed to meet requirement of an organization (Yahya, Othman and Meruda 2004, p75).

With the changing nature of work, it has become important for individuals and organisations to manage their careers. This is because every individual is expected to produce results that are meeting the needs of the organization. The realisation that effective usage of skills and knowledge can cause a great improvement in performance has caused many people and organisations to device ways to manage human capital. Career management is a continuous process that involves preparation, development, implementation, and tracking career plans and means to achieve career goals.

Career management can be done by an individual or by an organisation. Individual Career Management (ICM) is done personally and it involves data collection about how to solve emerging challenges of the work and plans to develop their career. In this kind of career management, a person is responsible for decision making affecting their career development (Dargham, 2011, p4). Organizational Career Management implies effort an organisation put to improve the quality of life of an individual who is an employee.

It involves policies, activities and programmes that are put in place to ensure that an organisation or employers facilitate the development strategies and designs of their employees’ careers (Adekola, 2011, p102). Career management requires analysis of the changing trends of jobs and careers in the present time. Both the organization and individual should carry out an analysis of the strengths and weaknesses they have so that they can focus on development (GMP, Not dated, p1-3). In the past, organizations could ensure job security even with changing environment.

In the current days because of the competitive nature of the external market,