Career Development Within A Company

Career Development Within A Company In all organisations, irrespective of their structure, the employees have aspirations to advance and grow in their organisation, and also a desire to achieve a sense of fulfilment. Unless these aspirations and desires of employees are taken care of, the organisation cannot move to higher level of efficiency and productivity. The strength and vitality of any organisation much depends on the fact that whether its employees are convinced that they are taken care of, not only in financial and other tangible terms but also emotionally and mentally. A well thought-out system of career planning is one way of achieving this organisational objective. An organisation without proper career planning and career development initiatives is more likely to face the high attrition rate, affecting all its plans and programmes and causing a lot of harm. Without succession planning, manning of vacancies at higher levels becomes difficult. Therefore, effective HRP encompasses career planning, career deve lopment and succession planning. With the advent of rapid technological advancement, organisations are be-sighed with manpower redundancy and concurrently equally concerned with the problem of retention. On the other hand, organisations need to address career development need of employees that mostly revolves around individuals by taking care of proper career planning and career management system. With the given scenario, since success of manpower planning much depends upon career planning, there cannot be effective manpower planning, if there is ineffective career planning in the organisation. In other words, career planning is an integral part of the manpower planning that affects business strategy and corporate planning. The Concept and definition of Career planning Career is viewed as a bunch or collection of jobs or positions. Generally, it describes an applicable career path within the structure of the organization. Basically, it shows the principal personnel development paths within the organization. Career is defined in the Oxford English Dictionary as a person’s â€Å"course or progress through life or a distinct portion of life†. Usually, it is referred to remunerative work and sometimes also formal education. The etymology of the term derived from the Latin word career, which means race. All the jobs, that are held together during one’s working life, constitute career. It is also viewed as the sequence of positions held by an individual during the course of his employment life. Edwin B. Flippo defined a career, as a sequence of separate but related work activities that provide continuity, order and meaning in a person’s life. A career may be viewed as amalgamation of the changes in values, attitudes and motivation an individual embrace, as he or she grows older. This constitute subjective element of the concept â€Å"career†. Greenhaus and Schein described several themes underlying different definition of career as : The property of an occupation or organisation: In this way the career describes the occupation itself or an employee’s tenure within an organisation. Advancement: It denotes the progression and increase in success an individual receives within an occupation or organisation. Status of a profession: In this sense, career is used to distinguish different profession. Such as engineering, medical profession is different from other occupation like plumbing carpentry etc. The former is said to have a career where the latter does not have.

Review Essay Example | Topics and Well Written Essays - 1000 words

Review - Essay Example According to the Basel system, IB’s profited from the low capital weight conferred to them. This acted as a reflection of relation safety therefore making it economical for banks to offer credit as counterparties to IB’s. The role of regulatory oversight for investment banks aided maintain the cost of capital low while at the same time allowing more control. Forth coming strategies need to guarantee that equity and credit principles are not mixed up , and that the capital rules that apply to these risky businesses are targeted efficiently to them and the cost of leverage is sufficiently high to ensure their size and risk taking activities are appropriately contained (Blundell-Wignall, Atkinson & Lee 2008, p 5-6). At the conference, some maintained that this arrangement might still not evade main systemic hitches in the future. This was because banks in the monitoring boundary would continue enjoying counter party relations with IB’s and other high-risk firms outs ide the fence thus dragging them back to where they were before. The considerable risk opportunities that should be taken are not particular and so is the independence of the cost of capital. If banks are to enter into counter party relationship with the high risk firms it should be done with very clear guidelines in some cases up to full cover in order to protect the banks’ creditworthiness. ... As a result, fewer transactions would be up to the internal rate of return requirements, and control and general risk will be proportionately smaller and so would the size and way of the monetary sector on the economy. However, it was observed that now it is too late to turn the hand of time and as such, the existing strategy in the crisis necessarily should pool the weaker and stronger institutions (Blundell-Wignall, Atkinson & Lee 2008, p 10-11). Another tactic is to work with non- operating holding company structures (NOHC’s). It will split a financial company into its integral parts in which there exists distinct panels and stout firewalls among the subordinate parts. Capital laws can be designed to the riskiness of the actions of the companies, and in an occurrence of a crisis, any subsidiary making losses can easily be handled by administrators while not jeopardizing the whole corporation. To liquidate or sell a challenging IB securities trader can be done with much more ease. For instance, the IB can be a subordinate of the non-operating holding company structure (NOHC) other than an entity at the top most of the structure. In addition, the NOHC configuration is also much more transparent and in its case, it is less taxing to reduce intra-group contacts. It also offers clear and adaptable arrangement for scarcely defined, deposit-taking banking that is superior to having the bank at the top of the group or having the bank as the group itself as in the case of the universal banking in Europe. In other words, NOHC’s would be much more stress-free to regulate. The key general point to note is that high-risk financial undertakings need to pay the accurate market charges of capital without biases caused by the rule and bank structure interface. For example,

Corporate Strategy - HBOS Essay Example | Topics and Well Written Essays - 1500 words

Corporate Strategy - HBOS - Essay Example It was the HBOS Group Reorganisation Act 2006, a private Act of Parliament, which gives more operational freedom to the group. With this Bank of Scotland has become its principal banking subsidiary. It has three more subsidiaries such as Halifax plc, HBOS Australia and HBOS Insurance and Investment Group Limited. While Halifax operates as retail banking division in Scotland, England and Northern Ireland, Bank of Scotland is main retail banking division in Scotland. Formed in 2004, HBOS Australia is a consolidation of group's companies in Australia. HBOS Insurance and Investment group manages insurance and investment products in UK and Europe. HBOS is launched as a 'New Force' in banking and claimed as a major and distinctive new competitor in the UK financial service markets. It has about 22 million customers all over the world and unique expertise of the global banking scenario. It has three strong divisions of retail banking, corporate banking and investment. It is believed that su ccessful acquisition and integration of many banking units has helped HBOS to emerge as a major financial conglomerate in Europe. Its average growth is around 10 percent. It operates under a number of well known brands. Businesses that actively pursue innovation generate more growth and profits than those that do not. This process will give the institution higher brand awareness and appeal. Last few years HBOS has been introducing innovative and customer oriented measures to achieve this goal. This has given it an upper hand in the industry. In its long years of existence it has been adding up more products and services to cater to the different needs of the people. The globalization, liberalization and privatization process has opened up new opportunities and challenges for the bank. The bank has entered into new markets with a global vision. In the recent period, it has grown to become a leading financial mall and global finance retail network. The market capitalization of the group is the fourth largest in UK. With assets of over 400 billion, HBOS is UK's largest mortgage and savings provider. It has several high profile brands including Bank of Scotland, Halifax, Birmingham Midshires, Intellige nt Finance and Clerical Medical. But with globalization is turning to new trajectory challenges and opportunities before banks such as HBOS are crucial and thought provoking. Financial sphere of the world has changed a lot with free flow of fund and resources from continent to continent or countries to countries. Financial institutions are now compelled to find new models of growth. There are lot of pressure from investors, shareholders, promoters and customers for fulfilling growing expectations. But squeezing margins, impact of technology and increasing competition are compelling banks to reduce cost as low as possible. Today's banking has more global behavior than local flavour. The management has to taken into consideration lot of global and demographic issues before giving shape to a product, service or strategy. The risk management has got more concentration among bankers. Also expectations of customers are growing more with peer bank competition. Most of the banks in Western countries have now entered into hi gh potential new destinations such as India, China and North American countries. They are also adapting both organic and inorganic growth models to survive in the new context. Today's financial service industry is facing lot of problems. While they have to drive the business