A COMPREHENSIVE PROJECT REPORT
On
“A study on career planning and advancement of insurance industry “
At
Landmark insurance brokers pvt ltd
Submitted to
Silver Oak Institute Of Management
Under the guidance of
Prof. Rupa shah
In Partial Fulfilment of the Requirement of the Award of the Degree of
Master of Business Administration (MBA)
Offered By
Silver Oak University
Ahmedabad
Prepared By:
Azad Rathod
Enrolment No. 2307070000214
MBA (Semester iv)
October, 2024
STUDENT’S DECLARATION
I hereby declare that the Comprehensive project report titled “a study on career planning
and development employee ” is a result of my own work and my indebtedness to other work
publications, references, if any, have been duly acknowledged. If i am found guilty of
copying from any other report or published information and showing as my original work, or
extending plagiarism limit, i understand that i shall be liable and punishable by the university,
which may include ‘fail’ in examination or any other punishment that university may decide.
Enrolment No Name Signature
CERTIFICATE FROM INSTITUTION
This is to certify that project work embodied in this report entitled “ A study on career
planning and development employee” was carried out by Azad Rathod of silver oak
Institute of Management.
The Report Is approved/not approved.
Comment of External Examiner.
This report if for Partial Fulfilment of the Requirement of the award of the degree of Master
of Business Administration Offered by silver oak university.
_____________
(Examiner’s sign)
Name of Examiner
Date:
CERTIFICATE BY FACULTY GUIDE
This is to certify that this Comprehensive Project Report titled “A Study on career planning
and development employee“ is the bonafide work of Azad Rathod (2307070000214), who
has carried out his Porject under my supervision.
Rating of Project Report [A/B/C/D/E]. __________
( A= Excellent, B= Good, C=Average, D=Poor, E=wrost)
Signature of the faculty guide
Prof. Devanshi Dave
Signature of principal / Director with stamp of Institute
Dr.Khusbhu Shah
ANNEXURE II
The Fortnightly Activity Report for Comprehensive Project
Silver Oak Institute of Management – MBA Program
Silver Oak University
Report (FAR) describes what you did and what you will do in the past and next fortnight.
Project Title:
Project guide details:
Fortnight – 1
Date:
Brief explanation
of the task assigned
Brief explanation
of how the task
was done
Difficulties in
meeting the current
goals
Task(s) for the next
Fortnight
Other remarks (if any)
Faculty Signature:
Student Signature:
Date:
Tabel of context
Sr no Chapter Page no
1 Chapter-1 introduction
Career planning and its process
2 Chapter- 2 literature review
CHAPTER-1
INTRODUCTION
Career Planning and its process in hrm
Career
A career is a set of positions that a person has held in his professional life.
The Sequence of activities, including education training, gaining professional experience
determines the path. It is related to the opportunities far holding a higer position in the
future.
According to Edwin B Flippo ,” A career is a Sequence of separate but related work activities
that provide continuity, ordee and meaning to a person’s life”.
According to Garry Dessier “ The occupational positions a person has had over many years”.
Career development
Career development refers to the process an individual may undergo to evolve their
occupational status. It is the process of making decisions for long term learning, to align
personal needs of physical or psychological fulfillment with career advancement
opportunities. Career Development can also refer to the total encompassment of an
individual’s work-related experiences, leading up to the occupational role they may hold
within an organization.
Career development can occur on an individual basis or an organizational level.
Career Planning
Form individual Perspective it is a process through an employee make goals and lay down
path to achieve it.
It guides them continuity and a direction in their professional life.
From the organizational Perspective it is a way to help out employees plan their career in
term of their capacity with the context of organization need.
Need of career planning
To retain competent employee in the organization.
To provide promotional opportunities to the work force.
To enable employee to develop and make them ready for future challenges.
To motivate and boost employee morale.
To reduce employee dissatisfaction and turnover.
Objective of career planning
It provides and maintains appropriate human resources in an organisation by offering careers,
not jobs.
It creates an able environment of effectiveness, efficiency and growth.
It maps out careers of different categories of employees, in accordance with their ability and
willingness to be ‘trained and developed’ to take the responsibility of higher positions.
It seeks to maintain a stable workforce within an organisation by controlling absenteeism and
reducing employee turnover.
It caters to the immediate and future human resource need of the organisation at appropriate
time.
It increases proper utilization of managerial reserves within the organisation.
Six steps Process of career planning
1. Preparation of human resources inventory
2. Identifying individual career needs
3. Analysing career opportunities
4. Matching of employees need and career opportunities
5. Formulation of training and development
6. Review pf career plan.
1)Managing of human resources inventory
Analysing the type of your existing employees
Satus
Duties
Qualification
Experience
Aptitude
2) Identifying individual career needs
Organization must analyze employee anchors , aspirations and goals through objective
assessment.
Since most employees do not have a clear idea of their career anchors and aspirations.
Organization most provide detained information to employee related to work that is more
suitable to a particular employee based on their his/her skill, experience and aptitude into
account.
Large Organization event organize various workshops to guide employees. In these
workshop, in-depth interviewing, Psychological testing and simulation exercises are
conducted to understand employees in a better way.
3) Identifying career opportunities
The best method for identifying career opportunities is conducting job Analysis.
Job Analysis helps organization in understanding the nature of the job.
Based on this , career path of employees can be drafted.
4) Mapping needs with opportunities
Organization matches the needs of the employees with available opportunities.
They even provide training to employees related to specific skills required.
Challenge to settle people at same level where few are freshers and few are promoters
5) Training and development program
Categories the employees based on their needs.
Develop a training program for each Category.
6) review of career plan
Are we going in right direction.
Are we utilizing the human resources at optimum level.
What changes organization might go through in near future.
What skill set Will be required to survive.
Career stages
1. Exploration
2. Establishment
3. Mid career
4. Late career
5. Decline
Understanding career stages
The concept of stages is pivotal in career development theory, providing a framework to
comprehend the evolutionary path of a professional life. Recognising your stage can guide
your decisions, from choosing further education to seeking new job opportunities or even
pivoting to a different career path altogether. We would examine exploration, establishment,
mid-career, main
tenance, and decline or disengagement below.
Stage 1 exploration
Understanding and engaging in intentional activities can help you navigate the exploration
stage more effectively, setting a solid foundation for future career development.
Key characteristics
The exploration stage, typically in one’s late teens to mid-twenties, is characterised by a
search for personal and professional identity. Individuals in this phase often try to understand
their interests, values, and abilities. It’s a time of questioning, seeking, and experimenting as
young adults make their initial forays into the world of work.
Activities and Behaviors
A typical exploration stage comprises the following activities:
Educational Pursuits: engaging in higher education or vocational training to gain skills and
knowledge.
Internships and part-time jobs: gaining practical experience and insight into various fields and
industries.
Self-assessment: utilising career assessments and counselling to discover personal strengths,
weaknesses, and areas of interest.
Networking: building relationships with mentors, peers, and professionals to gain insight into
different career paths.
Stage 2 Establishment
As the name implies, this stage is usually for professionals who seek to be more grounded in
their careers. It’s a time to dig deeper and identify ways to show competence and make a
name for yourself in the field of your interest.
Key Characteristics
The establishment stage usually spans from the mid-twenties to the mid-forties. It’s a phase
marked by a quest for achievement and stability. Individuals in this stage are focused on
advancing their careers, securing positions within their chosen fields, and gaining a reputation
for expertise. It’s about laying down roots, striving for success, and contributing significantly
to their workplaces.
Challenges and Opportunities
Challenges in the establishment stage often include:
Navigating Competition: Standing out in a competitive field can be daunting.
Work-Life Balance: Managing responsibilities between career ambitions and personal life can
be a tightrope walk.
Skill Upgradation: Keeping up with industry changes and technological advancements is
crucial and challenging.
Opportunities during this time are plentiful, offering chances to:
Mentorship: Being mentored and mentoring others can enhance professional growth and
networking.
Leadership: Opportunities for leadership roles become more accessible, allowing for
influence and career advancement.
Specialisation: Deepening expertise in a specific area can establish one as a thought leader in
their field
Stage 3 Mid career
Mid-career is one of the most critical stages where stagnation or dissatisfaction may brew.
Understanding and navigating the mid-career stages can significantly impact one’s
professional trajectory and personal satisfaction.
Key Characteristics
The mid-career stage, typically occurring in the forties to late fifties, is characterised by
reflection, reassessment, and often a desire for renewal. Professionals at this stage have
substantial experience and achievements but may question their career path and legacy.
Strategies for Success
Success in the mid-career stage can be achieved by:
Self-Reflection: Taking time to evaluate personal and professional satisfaction and goals.
Continued Learning: Pursuing further education, certifications, or learning new skills to stay
competitive and fulfilled.
Networking and Mentoring: Expanding networks and mentoring younger professionals can
open new opportunities and provide fresh perspectives.
Career Pivot: Considering a career change or lateral move to reignite passion and interest in
work.
Work-Life Integration: Finding ways to balance personal interests and professional demands
more harmoniously.
Stage 4 Maintenance/ late career
Maintenance in this context is more about reputation, goodwill, and evaluations. It is a time
to build and maintain a legacy and preserve successes for the future.
Key Characteristics
Entering the maintenance stage, usually in the late fifties to early sixties, professionals often
focus on sustaining their career achievements rather than seeking aggressive growth or
promotion. It’s a period of reflection on past successes, with an emphasis on preserving a
respected position within their industry or organisation. For many, it’s also a time to mentor
the next generation, passing on wisdom and experience.
Balancing personal and professional life
Balancing personal and professional life during the maintenance
stage of the career development cycle becomes increasingly crucial.
Strategies include:
Delegation and Mentoring: Passing on responsibilities to younger colleagues helps their
development and reduces the workload, allowing for a smoother transition towards
retirement.
Flexible Working Arrangements: Exploring part-time, consulting, or remote work options can
provide more personal time for career development.
Prioritising Health and Hobbies: Taking care of physical health, pursuing hobbies, and
spending time with family and friends become priorities, contributing to overall well-being.
Stage 5 Decline
Key Characteristics
The decline or disengagement stage is marked by a gradual withdrawal from one’s career,
typically occurring in the late sixties and beyond. It’s a transition phase where individuals
consider retirement or may choose to engage in less demanding roles, volunteer work, or
hobbies they’re passionate about. It’s a time for individuals to enjoy the fruits of their labour,
focusing more on life outside work.
Transitioning into Retirement or Alternative Pursuits
Understanding the significance of each career development stage helps individuals navigate
their professional lives with greater awareness and intention. From the five stages of career
development we examined, each phase offers unique challenges and opportunities. Planning
strategically and embracing the transitions can achieve professional success and personal
fulfilment throughout the journey. Transitioning smoothly requires:
Financial Planning: Ensuring financial security is crucial for a comfortable transition into
retirement. Planning should ideally start early in one’s career.
Finding New Purposes: Engaging in volunteer work, hobbies, or part-time roles in different
industries can provide a sense of purpose and fulfilment.
Social Networks: Maintaining and expanding social networks outside the workplace can
provide emotional support and combat feelings of isolation often associated with retirement.
Health and Well-Being: Prioritising physical and mental health through regular exercise,
hobbies, and social activities is vital for a fulfilling post-career life.
Advantages and benefits of career planning process
The process of planning about the career involves current and potential abilities that reveal
the self-perception of an individual. Here are a few advantages of career planning.
1 )Career opportunities:
An individual should start career planning right from childhood. Nowadays lie has become more competitive
and complex. So there are quite lots of struggles waiting in the future. An individual should learn to baffle so as
to select the right profession.
Students or employees those who don’t have a proper career plan or career opportunity should become aware of
the career opportunity programs.
2) Self development
People who have robust health are dependent on the sense of strict discipline and even it matters when the
guidance of the mission occurs.
It has almost severe mental makeup, training, knowledge on aptitude, will-power and respective skills. It
depends on each profession that even may result in frustration and failure
It helps one to take actions regarding long-term goals. One cannot judge themselves in taking right decisions. It
can be achieved via experience.
3) job satisfaction
Job satisfaction has become a common issue among social workers which determines mental stability, creative
ideas, and recreational facilities.
It includes wealth, salary, necessities of basic living, working conditions and realistic expectation. It becomes
the cause of anxiety, depression, and nervousness.
4) promotion
Promotions deals with the essential inducement of all the changes that are related to extra values.
Here one must try to accomplish and even quantify them. It is listed by sorting the negotiations, threats and even
the length of time. It is managed within the course of actions by the organization.
5) Loyalty Towards work and organization
It is gained when an employee has significant aspiration or commitment towards work. It happens with the sense
of loyalty and even as the management expects. It gradually changes the globalization and harder to find.
It becomes harder when the employee does not meet the expectation of the organization. The global
environment is confronted as today’s loyalty of the employee towards the respective organizations.
6) achievements
If the employees are hired for the organization then they keep a complete track of the terms and process that are
involved.
It also manages the downsizing, attitudes, and behaviours that are limited to self-psychological attachments. It
relates to the people striving for higher salaries.
7) Efficient career planning
It ensures the availability of people with efficient skills and highly talented employees. Here the organization
concentrates more on promoting dataset resources. The employees are allowed to face the dangers which are full
of competition.
It has defined the quantity of internal emotional components. It becomes a necessity for management to
understand the difficulties that the employee undergoes.
8) Boost productivity and engagement
Improving employee engagement promotes good opportunities and a variety of outcomes. It involves high
turnovers and high-level engagements.
It compensates for the quality of work and business scoring. The defects that are spent has bottom quartile
analysis and lower scoring along with business lines. This is one of the best advantages of planning.
9) Self assessment
Self-assessment involves consideration, reflection, and evaluation of the interests that are enhanced within the
identified skills.
It also includes the usage of whole hosted career responsibilities. It is related to cost tools and instruments that
help in motivating and assessing oneself.
10) Exploration and research
Planning involves components such as exploration and research. It tempts to gather details about the availability
of information, collecting and organizing them.
It has defined options and outcome of all the reported source of data. It also analyzes the gathered collection of
data that are modified and set as goals for further moves.
Chapter 2
Literature review
Career planning and career management as antecedents of career development: A study
Nameirakpam Chetana, AK Das Mohapatra
Asian Journal of Management 2017
Organizational career development has been characterized as a challenging and unpredictable task keeping into
consideration the individual career expectations and organizational development. Effective career development
process is achieved with proper indulgence of employee’s career planning and organizational career
management. It is in this context that the present study has been conducted to examine empirically the
antecedents of career development in the Indian firms. A self administered questionnaire in a five point Likert
scale has been used for the study. It involved three parts, namely, career planning, career management and career
development collected from 57 respondents. Random sampling was used for collecting the data from three
Indian service sectors, namely, Wipro, State Bank of India and Axis Bank. Descriptive Statistics, Spearman’s
Rank Correlation and Linear Regression were used to analyze the data. SPSS 20 package was used for the data
analysis. The analysis reveals the antecedent, namely, career planning and career management, have a positive
and significant influence on career development. The incorporation of individual career planning and
organizational career management was found to be the major antecedent of career development programs.
Career planning explained 87 per cent variation in career development and career management explained 89 per
cent variation in career development.
The impact of career planning and career satisfaction on employee’s turnover intention
Ahmad Munir Mohd Salleh, Khatijah Omar, Omar Jaber Aburumman, Nik Hazimah Nik Mat, Mohammad
Ayesh Almhairat
Entrepreneurship and Sustainability Issues , 2020
This study aims to examine the impact of career planning and career satisfaction on employees’ turnover
intention and the mediating role of career satisfaction from the perspective of banks employees’ in the Jordanian
capital Amman. The survey questionnaire was gathered from 412 employees located in 25 banks in the
Jordanian capital Amman. The study used the software SmartPLS (version 3.2. 8) to test the study hypotheses.
The findings indicate that career planning and career satisfaction negatively impact employees’ turnover
intention, and career satisfaction partially mediated the relationship between career planning and employees’
turnover intention. Additionally, this study aims to evaluate previous items that were developed by Gould (1979)
to measure career planning, using focus group interview for six managers of the human resource department in
the Jordanian banks’ sector. According to the results of the interview, some items were reformulated and three
new items were created. Future studies may include expansion of this model by adding variables related to
organizational behaviours such as individual career management or career adaptation.
Literature Review Factors Affecting Decision Making and Career Planning:
Environment, Experience and Skill
Prima Sari Pascariati, Hapzi Ali
Dinasti International Journal of Digital Business Management 2022
The development of a research role from previous or relevant research is significant because it can help
strengthen theoretical studies and the phenomenon of the relationship or influence between variables in a study.
This article reviews and seeks to confirm the factors that influence decision-making and career planning,
including environment, experience, and skills. This article aims to build a hypothesis of the influence between
variables to be used in further research. Human Resource Management literature study results from library
research are that: 1) Environment influences decision making; 2) Experience influences decision making; 3)
Skills influence decision making; 4) decision making affects career planning; 5) Environment influences career
planning; 6) Experience influences career planning; 7) Skills affect career planning.
Determination of Career Planning and Decision Making: Analysis of Communication
Skills, Motivation and Experience (Literature Review Human Resource Management)
Idham Fahmi, Hapzi Ali
Dinasti International Journal of Management Science 2022
Previous research or relevant research is very important in a research or scientific article. Previous research or
relevant research serves to strengthen the theory and phenomena of the relationship or influence between
variables. This article reviews the Determination of Career Planning and Decision Making: Analysis of
Communication Skills, Motivation and Experience, A Study of the Marketing Management Literature. The
purpose of writing this article is to build a hypothesis of the influence between variables to be used in further
research. The results of this research library are that: 1) The Effect of Communication Skills on Career Planning;
2) The Effect of Motivation on Career Planning; 3) Effect of Experience on Career Planning; 4) The Effect of
Career Planning on Decision Making; 5) The Influence of Communication Skills on Decision Making; 6) The
Influence of Motivation on Decision Making; and 7) Effect of Experience on Decision Making
