The overall purpose of career planning is predetermine the desired career paths of an employee to achieve career goals. It provides continuity, order and meaning to the life of an employee. It integrates the needs of individual and the organization. The specific objectives of career planning are as follows:
1. Meet internal staffing requirements
Career planning better prepares promotable employees for internal job openings. Better mix of talents becomes available to implement HRM strategies and policies. Internal pool of talent is created.
2. Reduce employee turnover
Career planning helps retain best and qualified employees. The concern for career increases organizational commitment. This results in reduced employee turnover in the organization. Loyalty to organization is enhanced.
3. Assist work force diversity
Career planning helps employees with diverse backgrounds to integrated into the organization through self-growth. They can plan their career by considerations to alternative career paths.
4. Motivate employees
Career planning motivates employees to fulfill their esteem and self-development needs. This improves performance.
5. Develop employee potential
Career planning encourages managerial employees to develop their future potential to assume more responsible positions. It is needed for personal growth of employees.
6. Reduce hoarding of employees
Managers like to hoard key subordinates. Career planning brings awareness about employee qualifications. This reduce hoarding of employees.
7. Assist international placement
Career planning assists global organizations to prepare employees for international placement. They can work in diverse cultures.