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Human Resource ManagementModule-3. Human Resource Development -HRD     Jinuachan Vadakkemulanjanal     Administrator     V...
Objectives of Module 31. Human resource development (HRD)2. Training and development TD3. Assessment of training needs and...
3.1 Human resource development                 (HRD)• HRD is the framework for helping employees  develop their personal a...
HRD includes• HRD develops the key competencies that enable  individuals in organizations to perform current and  future j...
HRM Module-3   jinuachan@gmail.com   5
• Technical/job training, customer service  training,• Sales and marketing training,• Health and safety training, OSHA•   ...
TD: DefinitionTraining is the formal and systematic modification  of behavior through learning which occurs as a  result o...
Trained Work ForceHRM Module-3   jinuachan@gmail.com                8
Development• Development is any learning activity, which is directed  towards future needs, and is concerned more with  ca...
Management ProcessHRM Module-3   jinuachan@gmail.com     10
EducationEducation is training people to do a different  job. It is often given to people who have  been identified as bei...
Distinction between Training and EducationThe following table draws a distinction between training  and education more cle...
Distinction between Training and DevelopmentLearning        Training                             Development     Who      ...
Purpose of Training•    To increase productivity and quality•   To promote versatility and adaptability to new    methods•...
When does the need for training arise?•   The installation of new equipment or techniques•    A change in working methods ...
Role/Advantages of Training1. Leads to improved profitability and/or more positive  attitudes toward profits orientation.2...
Disadvantages of training1.Can be a financial drain on resources;  expensive development and  testing, expensive to operat...
Assessment of training needs        HRM Module-3   jinuachan@gmail.com   18
Areas of training  HRM Module-3   jinuachan@gmail.com   19
Areas of TrainingKnowledgeHere the trainee learns about a set of rules and  regulations about the job, the staff and the p...
Areas of Training Conti.Social SkillsThe employee is made to learn about himself and  other, develop a right mental attitu...
Need for Employee Training1. Communications: The increasing diversity of todays   workforce brings a wide variety of langu...
Need for Employee Training Conti.5. Ethics: Todays society has increasing expectations about  corporate social responsibil...
Steps in the Training ProcessConceptualize             Plan         Execute                HRM Module-3   jinuachan@gmail....
Training Need Analysis(TNA)• It is an analysis to the design of  effective training models.• The purpose of training need ...
TNAHRM Module-3   jinuachan@gmail.com   26
Why TNA?Training need analysis is conducted to determine   whether resources required are available or not.It helps to pla...
Organizational level• TNA at this level focuses on strategic  planning, business need, and goals.• It starts with the asse...
• After the SWOT analysis, weaknesses can be  dealt with the training interventions,• The identified strengths can further...
Individual Level–This level focuses on each and every individual in   the organization.--Evaluate an employee: is performi...
Individual analysis methods•   Appraisal and performance review•   Peer appraisal•   Competency assessments•   Subordinate...
Operational LevelHere the focus is on the work assigned to the  employees.The job analyst collect the data on whether the ...
Training Techniques      We Learn               We Remember1% through taste      10% of what we read1.5% through touch    ...
3.1 Training MethodsA. On the Job training or shop training    -Job instruction training –JIT World War II   -Coaching  - ...
B. Off the job training-Vestibule training-Class room training-Internship Training for students-Conferences-Role plays-Pro...
Vestibule training• Originated after Industrial revolution 1800s• It combined the benefits of the classroom and on-  the-j...
C. E-learning-Audio visual training-Computer enabled Interactive training-EPSS- Electronic performance support systems-Tel...
4. Evaluation of training schemes• Evaluate the immediate and long term effect of a  training.• Identify the trainers and ...
Need of evaluation of a training• Every company expect RoI of training in terms  of outcomes, commitment and efficiency• S...
The Evaluation Process     Conduct a Needs Analysis   Develop Measurable Learning Outcomes    Develop Outcome Measures    ...
Methods•   Satisfaction, motivation criteria•   Out come based evaluation•   Kirkpatrick’s Framework•   Time series analys...
Outcomes Used in Evaluating Training Programs:               Cognitive               Outcomes                             ...
6 - 43Kirkpatrick’s Framework of Evaluation CriteriaLevel Criteria     Focus  1    Reactions   Trainee satisfaction  2    ...
• Step 1: Reaction - How well did the learners like the  learning process? Rate the success. Wants follow ups..• Step 2: L...
5. Performance Appraisal• According to Newstrom, “It is the process of  evaluating the performance of employees, sharing  ...
• A “Performance appraisal” is a process of  evaluating an employee’s performance of a job in  terms of its requirements  ...
Need/objectives for PA The Management uses appraisals for DSS• Basis for Promotions, transfers, and terminations.• Helps t...
Need/objectives for PA• Helps to avoid work/team alienation issues. Role  identification is enhanced• Helps to identify gr...
Essentials of an effective appraisal system•   Mutual trust•   Clear objectives•   Standardizations•   Training•   Job rel...
Steps in performance appraisal       Establishing job standards   Designing an appraisal programme        Appraise perform...
PA v/s PMPERFORMANCE APPRAISAL           PERFORMANCE MANAGEMENT Top down assessment.           Joint process through An...
Traditional Methods1. Paired comparison                                          6. Free essay method2. Graphic Rating    ...
Modern Methods1. Assessment Center2. Appraisal by Results  or Management by  Objectives -MBO3. Human Asset  Accounting4. B...
6. Career planning and development Career Planning is a process of identifying, selecting  career goals and acquiring skil...
Career development• It involves managing career either within or  between organizations.• It includes learning new skills ...
Organizational career planning process                                                               Projected Outcome    ...
Organizational career planning process1. Direction   – Assessing employee wants and organizational needs   – Common goal s...
HRM Module-3   jinuachan@gmail.com   58
Contd…4. Career planning options  – Advancement.  – Lateral  – Change to Lower Grade  – Mobility.  – Job Enrichment  – Exp...
Organizational Initiatives1.   A job posting system2.   Mentoring activities3.   Career Resource Centers4.   Managers as c...
HRM Module-3   jinuachan@gmail.com   61
5.   Career development workshops6.   Human resource planning and forecasting7.   Performance appraisals8.   Career pathin...
Individual Initiatives1.    Identifying personal/professional profile2.   Career Planning and analyzing opportunities3.   ...
Career Models•   Pyramidal Model•   The obsolescence model•   Modern models•   The Japanese Model;     life time, seniorit...
HRM Module-3   jinuachan@gmail.com   65
Career Models for the 21st Century1. The experts whose primary career decision is to master a   particular area or skill2....
HRM Module-3   jinuachan@gmail.com   67
Jinuachan VadakkemulanjanalAP cum AdministratorVimal Jyothi College for MTech, MBA, BTechChemperi Po Kannur, Kerala-60632,...
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HRD Human Resource Development by Jinuachan Vadakkemulanjanal

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HRM 3rd module for 1 semester MBA at Kannur University, These slides are prepared as guideline for the students at Vimal Jyothi Institute of Management and Research, Chemperi

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HRD Human Resource Development by Jinuachan Vadakkemulanjanal

  1. 1. Human Resource ManagementModule-3. Human Resource Development -HRD Jinuachan Vadakkemulanjanal Administrator Vimal Jyothi College for MTech, MBA, BTech Chemperi Po Kannur, Kerala-60632 HRM Module-3 jinuachan@gmail.com 1
  2. 2. Objectives of Module 31. Human resource development (HRD)2. Training and development TD3. Assessment of training needs and training methodologies4. Evaluation of training schemes5. Performance appraisal6. Career planning and development HRM Module-3 jinuachan@gmail.com 2
  3. 3. 3.1 Human resource development (HRD)• HRD is the framework for helping employees develop their personal and organizational skills, knowledge, and abilities - Susan M. Heathfield• It aims at development of Human capital.• It is a denotes the use of training, organization, and career development which aims to improve individual, group and organizational effectiveness. HRM Module-3 jinuachan@gmail.com 3
  4. 4. HRD includes• HRD develops the key competencies that enable individuals in organizations to perform current and future jobs through planned learning activities.• HRD consists of TD + OD• Executive and supervisory/management career development,• New employee orientation, induction, employee training• Professional skills training, CM• Coaching, mentoring, succession planning, key employee identification HRM Module-3 jinuachan@gmail.com 4
  5. 5. HRM Module-3 jinuachan@gmail.com 5
  6. 6. • Technical/job training, customer service training,• Sales and marketing training,• Health and safety training, OSHA• http://www.osha.gov/pls/oshaweb/owastand.display_standard_group?p_toc_level=1&p_part_number=1910• Performance management and development. HRM Module-3 jinuachan@gmail.com 6
  7. 7. TD: DefinitionTraining is the formal and systematic modification of behavior through learning which occurs as a result of education, instruction, guidance and planned experience.Training is the acquisition of technology, which permits employees to perform their present job to standards. It improves human performance on the present job. It is given when new technology/ Machinery is introduced into the workplace. HRM Module-3 jinuachan@gmail.com 7
  8. 8. Trained Work ForceHRM Module-3 jinuachan@gmail.com 8
  9. 9. Development• Development is any learning activity, which is directed towards future needs, and is concerned more with career growth than immediate performance.• Development is training people to acquire new horizons, technologies, or viewpoints. - It enables leaders to guide their organizations onto new expectations by being proactive rather than reactive. -It enables workers to create better products, faster services, and more competitive organizations. -It is learning for growth of the individual, but not related to a specific present or future job HRM Module-3 jinuachan@gmail.com 9
  10. 10. Management ProcessHRM Module-3 jinuachan@gmail.com 10
  11. 11. EducationEducation is training people to do a different job. It is often given to people who have been identified as being promotable, being considered for a new job either lateral or upward, or to increase their potential.Unlike training, which can be fully evaluated immediately upon the learners returning to work, education is of long term nature HRM Module-3 jinuachan@gmail.com 11
  12. 12. Distinction between Training and EducationThe following table draws a distinction between training and education more clearly. Training Education Application Theoretical orientationJob Experience Classroom learningSpecific Tasks General conceptsNarrow perspective Broad perspective HRM Module-3 jinuachan@gmail.com 12
  13. 13. Distinction between Training and DevelopmentLearning Training Development Who Non-managers Managers What Technical Theoretical Why Specific job General When Short term Long term HRM Module-3 jinuachan@gmail.com 13
  14. 14. Purpose of Training• To increase productivity and quality• To promote versatility and adaptability to new methods• To reduce the number of accidents• To reduce labour turnover• To increase job satisfaction displaying itself in lower labour turn- over and less absenteeism• To increase efficiency HRM Module-3 jinuachan@gmail.com 14
  15. 15. When does the need for training arise?• The installation of new equipment or techniques• A change in working methods or products produced• A realization that performance is inadequate• Labour shortage, necessitating the upgrading of some employees• A desire to reduce the amount of scrap and to improve quality• An increase in the number of accidents• Promotion or transfer of individual employees.• Ensures availability of necessary skills and there could be a pool of talent from which to promote from. HRM Module-3 jinuachan@gmail.com 15
  16. 16. Role/Advantages of Training1. Leads to improved profitability and/or more positive attitudes toward profits orientation.2. Improves the job knowledge and skills at all levels of the organization.3. Improves the morale of the workforce.4. Helps people identify with organizational goals.5. Helps create a better corporate image.6. Fasters authenticity, openness and trust.7. Improves the relationship between boss and subordinate.8. Aids in organizational development.9. Learns from the trainee.10. Helps prepare guidelines for work. HRM Module-3 jinuachan@gmail.com 16
  17. 17. Disadvantages of training1.Can be a financial drain on resources; expensive development and testing, expensive to operate?2. Often takes people away from their job for varying periods of time;3. Equips staff to leave for a better job4. Bad habits passed on5. Narrow experience HRM Module-3 jinuachan@gmail.com 17
  18. 18. Assessment of training needs HRM Module-3 jinuachan@gmail.com 18
  19. 19. Areas of training HRM Module-3 jinuachan@gmail.com 19
  20. 20. Areas of TrainingKnowledgeHere the trainee learns about a set of rules and regulations about the job, the staff and the products or services offered by the company. The aim is to make the new employee fully aware of what goes inside and outside the company.Technical SkillsThe employee is taught a specific skill (e.g., operating a machine and handling computer) so that he can acquire that skill and contribute meaningfully. HRM Module-3 jinuachan@gmail.com 20
  21. 21. Areas of Training Conti.Social SkillsThe employee is made to learn about himself and other, develop a right mental attitude, towards the job, colleagues and the company.The principal focus is on teaching the employee how to be a team member and get ahead.TechniquesThis involves the application of knowledge and skill to various on-the-job situations.. It will go a long way in obtaining employee loyalty, support and commitment to company activities. HRM Module-3 jinuachan@gmail.com 21
  22. 22. Need for Employee Training1. Communications: The increasing diversity of todays workforce brings a wide variety of languages and customs. Cross culture, high /low context issues2. Computer skills: Computer skills are becoming a necessity for conducting administrative and office tasks.3. Customer service: Increased competition in todays global marketplace makes it critical that employees understand and meet the needs of customers.4. Diversity: Diversity training usually includes explanation about how people have different perspectives and views, and includes techniques to value diversity HRM Module-3 jinuachan@gmail.com 22
  23. 23. Need for Employee Training Conti.5. Ethics: Todays society has increasing expectations about corporate social responsibility (CSR). Todays diverse workforce brings a wide variety of values and morals to the workplace.6. Human relations: The increased stresses of todays workplace can include misunderstandings and conflict. Training can get along people in the workplace.7. Quality initiatives: Initiatives such as Total Quality Management, Quality Circles, benchmarking, ISO etc., require basic training about quality concepts, guidelines and standards for quality, etc.8. Safety: Safety training is critical where working with heavy equipment, hazardous chemicals, repetitive activities, etc., but can also be useful with practical advice for avoiding assaults, etc. HRM Module-3 jinuachan@gmail.com 23
  24. 24. Steps in the Training ProcessConceptualize Plan Execute HRM Module-3 jinuachan@gmail.com 24
  25. 25. Training Need Analysis(TNA)• It is an analysis to the design of effective training models.• The purpose of training need analysis is to determine whether there is a gap between what is required for effective performance and present level of performance. HRM Module-3 jinuachan@gmail.com 25
  26. 26. TNAHRM Module-3 jinuachan@gmail.com 26
  27. 27. Why TNA?Training need analysis is conducted to determine whether resources required are available or not.It helps to plan the budget of the company, areas where training is required, and also highlights the occasions where training might not beappropriate but requires alternate action. HRM Module-3 jinuachan@gmail.com 27
  28. 28. Organizational level• TNA at this level focuses on strategic planning, business need, and goals.• It starts with the assessment of internal environment of the organization such as, procedures, structures, policies, strengths, a nd weaknesses and external environment such as opportunities and threats.• HRD assess employees about the required Knowledge, Skills, and Attitudes (KSAs) based on the future KSAs requirements at each level HRM Module-3 jinuachan@gmail.com 28
  29. 29. • After the SWOT analysis, weaknesses can be dealt with the training interventions,• The identified strengths can further be strengthened with continued training.• Threats can be reduced by identifying the areas where training is required.• Opportunities can be exploited by balancing it against costs. HRM Module-3 jinuachan@gmail.com 29
  30. 30. Individual Level–This level focuses on each and every individual in the organization.--Evaluate an employee: is performing at desired level or the performance is below expectation. -- If the difference between the expected performance and actual performance comes out to be positive, then certainly there is a need of training. (Pe-Pa) HRM Module-3 jinuachan@gmail.com 30
  31. 31. Individual analysis methods• Appraisal and performance review• Peer appraisal• Competency assessments• Subordinate appraisal• Client feedback• Customer feedback• Self-assessment or self-appraisal HRM Module-3 jinuachan@gmail.com 31
  32. 32. Operational LevelHere the focus is on the work assigned to the employees.The job analyst collect the data on whether the job is clearly understood by an employee or not.It is done through technical interview, observation, psychometric test; closed ended as well as open ended questionnaires,etc.Present job and future expectations in job are analyzed HRM Module-3 jinuachan@gmail.com 32
  33. 33. Training Techniques We Learn We Remember1% through taste 10% of what we read1.5% through touch 20% of what we hear3.5% through smell 30% of what we see11% through hearing 50% of what we see and hear83% through sight 80% of what we say 90% of what we say as we act
  34. 34. 3.1 Training MethodsA. On the Job training or shop training -Job instruction training –JIT World War II -Coaching - Mentoring - Position rotation - Apprenticeship - Committee assignment HRM Module-3 jinuachan@gmail.com 34
  35. 35. B. Off the job training-Vestibule training-Class room training-Internship Training for students-Conferences-Role plays-Programmed learning: B F Skinner 1958. HRM Module-3 jinuachan@gmail.com 35
  36. 36. Vestibule training• Originated after Industrial revolution 1800s• It combined the benefits of the classroom and on- the-job training.• Vestibule is furnished with the same machines as used in production.• Six to ten workers per trainer, who were skilled workers or supervisors from the company.• The workers are trained as if on the job, but it does not interfere with the more vital task of production.• Classes are small so that the learners received immediate feedback• It is expensive, need lot of investment, resource HRM Module-3 jinuachan@gmail.com 36
  37. 37. C. E-learning-Audio visual training-Computer enabled Interactive training-EPSS- Electronic performance support systems-Tele training -Honda-Video conferencing-Training/business portals HRM Module-3 jinuachan@gmail.com 37
  38. 38. 4. Evaluation of training schemes• Evaluate the immediate and long term effect of a training.• Identify the trainers and collect data of their performance and investment• Formative evaluation – evaluation conducted to improve the training process.• Summative evaluation – evaluation conducted to determine the extent to which trainees have changed as a result of participating in the training program. HRM Module-3 jinuachan@gmail.com 38
  39. 39. Need of evaluation of a training• Every company expect RoI of training in terms of outcomes, commitment and efficiency• Strengths, weakness, contents, learning management,• To gather data to assist in marketing training programs.• To determine the financial benefits and costs of the programs.• To compare the costs and benefits of training versus non-training investments.• To compare the costs and benefits of different training programs to choose the best program. HRM Module-3 jinuachan@gmail.com 39
  40. 40. The Evaluation Process Conduct a Needs Analysis Develop Measurable Learning Outcomes Develop Outcome Measures Choose an Evaluation Strategy Plan and Execute the Evaluation HRM Module-3 jinuachan@gmail.com 40
  41. 41. Methods• Satisfaction, motivation criteria• Out come based evaluation• Kirkpatrick’s Framework• Time series analysis• Cost Benefit Analysis –CBA• Psychometric analysis HRM Module-3 jinuachan@gmail.com 41
  42. 42. Outcomes Used in Evaluating Training Programs: Cognitive Outcomes Skill-Based Outcomes Affective Outcomes Results Return on Investment HRM Module-3 jinuachan@gmail.com 42
  43. 43. 6 - 43Kirkpatrick’s Framework of Evaluation CriteriaLevel Criteria Focus 1 Reactions Trainee satisfaction 2 Learning Acquisition of knowledge, skills, attitudes, behavior 3 Behavior Improvement of behavior on the job 4 Results Business results achieved by trainees
  44. 44. • Step 1: Reaction - How well did the learners like the learning process? Rate the success. Wants follow ups..• Step 2: Learning - What did they learn? (the extent to which the learners gain knowledge and skills)• Step 3: Behavior - (What changes in job performance resulted from the learning process? (capability to perform the newly learned skills while on the job)• Step 4: Results - What are the tangible results of the learning process in terms of reduced cost, improved quality, increased production, efficiency, etc.? HRM Module-3 jinuachan@gmail.com 44
  45. 45. 5. Performance Appraisal• According to Newstrom, “It is the process of evaluating the performance of employees, sharing that information with them and searching for ways to improve their performance’’. HRM Module-3 jinuachan@gmail.com 45
  46. 46. • A “Performance appraisal” is a process of evaluating an employee’s performance of a job in terms of its requirements HRM Module-3 jinuachan@gmail.com 46
  47. 47. Need/objectives for PA The Management uses appraisals for DSS• Basis for Promotions, transfers, and terminations.• Helps the employees to identify skills and informing the expected effectiveness• Appraisals identify training and development needs.• Helping to formulate the training and developmental programmes.• Appraisals also provide feedback to employees on how the organization views their performance. HRM Module-3 jinuachan@gmail.com 47
  48. 48. Need/objectives for PA• Helps to avoid work/team alienation issues. Role identification is enhanced• Helps to identify grievance at its controllable stage. Helps for redressal• Helps to develop interpersonal relationship/ foster organizational culture• Appraisals are used as the basis for reward allocations.• Facilitates research in personnel management• HRM Module-3 jinuachan@gmail.com 48
  49. 49. Essentials of an effective appraisal system• Mutual trust• Clear objectives• Standardizations• Training• Job relatedness• Documentation• Feedback and participation• Individual differences• Post appraisal review• Review and appeal HRM Module-3 jinuachan@gmail.com 49
  50. 50. Steps in performance appraisal Establishing job standards Designing an appraisal programme Appraise performance Performance interview Use appraisal data For appropriate purpose HRM Module-3 jinuachan@gmail.com 50
  51. 51. PA v/s PMPERFORMANCE APPRAISAL PERFORMANCE MANAGEMENT Top down assessment.  Joint process through Annual appraisal dialogue. meeting.  Continuous review with one or more formal reviews. Use of rating.  Rating less common. Monolithic system.  Flexible process. Focus on quantified  Focus on value and objectives behaviors as well as objectives. Often linked to pay.  Less likely to be direct link to Bureaucratic- complex pay. paperwork.  Documentation kept to be minimum. Owed by the HR department.  Owed by line managers. HRM Module-3 jinuachan@gmail.com 51
  52. 52. Traditional Methods1. Paired comparison 6. Free essay method2. Graphic Rating 7. Critical Incidents scales 8. Group Appraisal3. Forced choice 9. Field Review Method Description 10.Confidential Report method 11.Ranking4. Forced Distribution Method5. Checks lists HRM Module-3 jinuachan@gmail.com 52
  53. 53. Modern Methods1. Assessment Center2. Appraisal by Results or Management by Objectives -MBO3. Human Asset Accounting4. Behaviorally Anchored Rating scales -BARS5. 3600 appraisal HRM Module-3 jinuachan@gmail.com 53
  54. 54. 6. Career planning and development Career Planning is a process of identifying, selecting career goals and acquiring skills to achieve these goals Objectives:• Offer careers v/s jobs• Effective utilization of the HR for productivity• Reduce attrition rate• Motivate employee and enhance their morale• Plan the HR requirement in different strata HRM Module-3 jinuachan@gmail.com 54
  55. 55. Career development• It involves managing career either within or between organizations.• It includes learning new skills sets and making improvements to career. Career development is an ongoing, lifelong process to learn and achieve more in career. HRM Module-3 jinuachan@gmail.com 55
  56. 56. Organizational career planning process Projected Outcome Career planning options Transitions Career TimeDirection HRM Module-3 jinuachan@gmail.com 56
  57. 57. Organizational career planning process1. Direction – Assessing employee wants and organizational needs – Common goal setting – Horizontal and vertical development2. Career time – Growth style in an organization – How far & how fast can an employee move on career path?? – Seniority and other criteria related with time3. Transition – Relates to changes expected to a career goal – Analyzing transition factors – Setting goals, getting jinuachan@gmail.com HRM Module-3 shift in career style 57
  58. 58. HRM Module-3 jinuachan@gmail.com 58
  59. 59. Contd…4. Career planning options – Advancement. – Lateral – Change to Lower Grade – Mobility. – Job Enrichment – Exploratory Research5. Projected Outcome – Calculate the risks attached – How well will it pay off? HRM Module-3 jinuachan@gmail.com 59
  60. 60. Organizational Initiatives1. A job posting system2. Mentoring activities3. Career Resource Centers4. Managers as career counselors HRM Module-3 jinuachan@gmail.com 60
  61. 61. HRM Module-3 jinuachan@gmail.com 61
  62. 62. 5. Career development workshops6. Human resource planning and forecasting7. Performance appraisals8. Career pathing programs. HRM Module-3 jinuachan@gmail.com 62
  63. 63. Individual Initiatives1. Identifying personal/professional profile2. Career Planning and analyzing opportunities3. SWOT of the profile4. Interests, Values, and Competency Analysis5. Career Awareness / Developing alternatives6. Developing contingency plans7. Career Resource Center Utilization8. Monitoring career plans HRM Module-3 jinuachan@gmail.com 63
  64. 64. Career Models• Pyramidal Model• The obsolescence model• Modern models• The Japanese Model; life time, seniority based HRM Module-3 jinuachan@gmail.com 64
  65. 65. HRM Module-3 jinuachan@gmail.com 65
  66. 66. Career Models for the 21st Century1. The experts whose primary career decision is to master a particular area or skill2. The traditionalist who thrives on being part of an organization and exerting influence within it3. The portfolio manager whose life voyages include a variety of work experiences, skills, and accomplishments4. The planful entrepreneur with an eye always toward applying skills developed in a large organization to start their own business5. The spontaneous entrepreneur, who is passionate enough about an idea to sacrifice the comforts that other models afford.Ref: Jim Biolos Source: Harvard Business Publishing Newsletters 1 Publication date: May 01, 1997. Prod. #: U9705C-PDF-ENG HRM Module-3 jinuachan@gmail.com 66
  67. 67. HRM Module-3 jinuachan@gmail.com 67
  68. 68. Jinuachan VadakkemulanjanalAP cum AdministratorVimal Jyothi College for MTech, MBA, BTechChemperi Po Kannur, Kerala-60632, India HRM Module-3 jinuachan@gmail.com 68

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