Five Year Career Development Plan

Topics: Employment, Management, Plan Pages: 5 (1616 words) Published: February 8, 2013
Bylli All’s Five Year Career Development Plan
Bylli All
Human Capital Management/HRM 531
Dr. Penny Wilkins
November 26, 2012

Bylli All’s Five Year Career Development Plan
As I am currently the president and CEO of J-R Equipment, my career is where I always thought it would be. I was chosen by my mother to head this 50 year-old family business. My sole endeavor is to have it continue for another 50 years. More specifically, over the next five years my goal and base objective will be to rebuild J-R Equipment Rental into an efficient, consistently profitable organization which many families are supported with its growth. Heinz Weihrich (2007) writes, “Career plans are built on uncertainty; the future cannot be predicted with accuracy. Consequently, contingency plans based on alternative sets of assumptions should be prepared.” My personal plan will be an ongoing proactive plan with annual reassessments periodically (Wagner, 2010). My objective is to incorporate new technology and old fashioned know how to make ours the best rental company in the area. Goals and Objectives

J-R Equipment will remain in our family for generations to come with proper management and development. The initial objective in any business is to be profitable. Years ago this company was run by a much larger staff, thus giving the opportunity of time to oversee things properly. This is my personal goal. When this plan is successfully put into practice, a sense of pride and accomplishment knowing that my mother made the correct choice will be satisfaction enough. I do not foresee my compensation or benefits package changing during or after this time. The following current specific goals and objectives are vital to the plan to be a success. This list cannot consider unknown or unforeseen actions. 1. Conduct a complete job analysis on each area within the company. 2. Construct a thorough job description for each job analysis. 3. Work to organize the jobs better to be done so that employees are making good use of their talents to better serve the company’s goals. 4. Review pay scales and update if warranted, this should be done annually. 5. Review benefits package, e.g. Health Insurance, IRA, Life Insurance 6. Annually update the Employee Handbook and new hire package. 7. Streamline the rental process so that customers can shorten the time they are required to spend in the office on paperwork. 8. Educate employees who will utilize the computer system’s available tools. 9. Work to make the equipment inventory more reliable in terms of contracts and status of equipment. 10. Update processes and protocols within the company.

11. Review our service call procedures and update as needed. Job Satisfaction and Attributes
There is a great deal of satisfaction in a job well-done. Knowing that my efforts are useful and usable is more than adequate to me. The typical attributes of job satisfaction is motivation and productivity. When an employee is satisfied with his or her job the employee will almost naturally be excited and motivated, thus increasing productivity. I am no exception to this rule. Compensation and Benefits

Currently my compensation and benefits are as high as they can be for the company. In the near future I plan to include a key individual life insurance plan to my list of benefits. This life insurance plan would pay the company as the beneficiary to offset costs pertaining to hiring and promoting individuals in the event of my death. Most organizations have at least one employee who is fundamental to the continued success of the business. It could be the owner, manager, or someone with a high level of experience, the loss or death of that person certainly would cause an upset both productively and financially to the company. This insurance benefit could be used to pay off debt, recruit new personnel, or any other useful tool needed to grow the business. Competencies

Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Five Year Career Development Plan Essay
  • Career Development Plan Essay
  • Five Year Career Plan Essay
  • Five-Year Career Development Paper
  • Five Year Plans for Economic Development Research Paper
  • Essay about Creating a Career Development Plan
  • Career Development Plan Memo Essay
  • Career Development Plan Summary Essay

Become a StudyMode Member

Sign Up - It's Free