Components Of A Company s Development Planning Process Essay

Goal setting is one of four components of a company’s development planning process. A company establishes the development planning process, or career management system, as a means to retain their better employees. The development planning process may also be a motivation for all employees to improve their value to the employer. The employer may look for employees who have potential to advance up the career ladder within the company, or simply allow the employee to move to a different department that is aligned with his or her interests. The four components of the development planning process are self-assessment, reality check, goal setting, and action planning. (Noe, 2013). The employee is responsible for assessing his or her career interests, desire for particular work environment, personality, values, strengths, and weaknesses. The employee and employer identify what skill can be developed or what weakness can realistically be improved upon. The employer communicates how the employee’s development can be utilized in the company long-term or the industry as a whole. Goal setting is establishing the employee’s point of achievement, usually referring to being promoted to a desired position, but can also refer to being in a particular work environment, or acquiring a new skill. The fourth component is to make an action plan which is a step-by-step strategy of how the goal will be achieved. The employer must provide resources to the employee so that he or she canShow MoreRelatedThe Difference Of Qua lity Strategic Planning1246 Words   |  5 Pagesstrategic planning, is very different than traditional strategic planning. The strategic plan of an organization does not exist in a vacuum. Rather it exist in relation to the entire environment in which the organization exists. If the strategic plan is to be useful and effective, it must reflect the dynamics of that environment (Winder, 1993). 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Organizations are willing to spend not only time, but also invest millions of dollars in the talent management programs because of the obvious benefits the programs create such as employment engagement, customer satisfaction, absenteeism, turnover, employee loyalty, and union avoidance. Talent management programs consists of many critical components that when organized properly foster a setting of continuous growth and success. These components of an effective