Career management in business Essay Example | Topics and Well Written Essays - 1000 words

Career management in business - Essay Example These are the active and passive forms. The active strategies are implemented for the purpose of career management and they involve training of employees and organization of career workshops. The passive strategies, on the other hand, involve organizational practices such as performance indicators and reviews (Arnold, 1997) Although many organizations put a lot of effort in the facilitation of career management through passive activities, a few of them have incorporated both active and passive strategies into their business operations. Career management, therefore, provides an opportunity for an organization to achieve its aspirations and interest through a convergence of individuals who possess these with the business needs. The organizational leadership can provide development and direction to the individuals who seek career progression. The ever-changing global market place is always a challenge for organizations to recognize and improve. With the current trend of market dynamics, there is increasing demand for creative and effective recruitment and retention of workforce. Supportive career management practices where employee career development and satisfaction in the workplace are emphasized (Arthur, Inkson and Pringle, 1999). Organizations should seek to implement management practices in order to facilitate and encourage employees to find value in the organizations (THORNTON, 2007). A supportive career management practice ensures that the expectations of the employee are clearly set. This enables the employee identify what is expected of them in the organization throughout their career. This is also beneficial in self-evaluation where the employee can determine if they are making any impact in the organization. When an organization does not place clear expectations for employees, it makes them uncertain about the development of their careers in the organization. This in turn affects the employee output and contribution in the organization as well as the ge neral output and performance of the organization (BILIMORIA & PIDERIT, 2006). Employees are also given clear succession plans in the organization. This ensures that they do not stay in uncertainty about the future of their career in the organization. This clear communication of such plans between the organization and employees helps in the development of confidence in the organization. When employees have confidence in their employers, the quality of their input into organization improves. The employees are also sure about their career development in the organization and, therefore, may choose to stay with the organization for the rest of their careers. This is not the case with organizations, which do not plan for the career growth and development of their employees. These types of organizations have a high rate of employee turnover since the employee are uncertain of their future and career developments in the organization (GREENHAUS, CALLANAN & GODSHALK, 2010). Through the differ ent strategies for supportive career management practices, employees have the resources and time to consider both their long- and short-term goals. This self-evaluation and assessment helps the employees make reasonable career plans according to their abilities and commitment to the organization (HUNTER, 2006). With the time and resources to make these considerations, the employees are able to make accurate and honest assessments of themselves. The set long- and short-t

Assessment of the Current Economic Condition in the USA Research Paper

Assessment of the Current Economic Condition in the USA - Research Paper Example During the last two years employment level in the country continuously declined and as such the pace of economic growth has slowed down. As such the overall role of FED becomes relatively more critical because of the monetary policy regulator of the country. A critical assessment of the overall economic situation of the country is therefore of critical importance as it will allow a better policy formulation as well as provide a broader understanding of how the different variables are acting together to create this sort of economic crisis. The basic purpose of this report is to assess the overall economic conditions of the country, an assessment of the steps undertaken by FED so far and to produce set of policy recommendations which may be considered by FOMC in its next meeting. In order to discuss and assess the current status of the economy, it is important that the background information must also be provided in order to assess the core issues faced currently faced by the US economy. During 2008, the Bureau of Economic Research publically announced that the US economy is in a deep recession. This announcement was just a mere acknowledgment of the fact that the country’s economy was already under a threat from going into the recession and probably depression also. If one attempts to trace the origins of the current economic crisis, it will emerge that the situation started to get worse when the financial sector as a whole was gradually de-regulated by the authorities. The de-regulation of the financial sector allowed banks and other financial institutions to engage in the practices which were relatively risky for the long-term survival of the firms. As such the focus was on the achievement of short-term results rather than ensuring that the long-term stability is achieved.