Summary Chapter 10 and 11

Chapter 10 : Managing Careers and Retention

Career Management

Careers Today

Careers today differ in other ways from a few years ago. With many more women pursuing
professional and managerial careers, families must balance the challenges associated with
dual career pressures. At the same time, what people want from their careers is changing.

The Psychological Contract

The psychological contract identifies each party’s mutual expectations. The problem is that
with today’s tumultuous labor markets, neither the employer nor the employee can count on
long-term commitments from each other. That changes the psychological contract, and makes
career management even more critical for the employee.

The Employee’s Role in Career Management

It is the employee who must shoulder responsibility for his or her own career; assess interests,
skills, and values; seek out career information resources; and generally take those steps that
must be taken to ensure a happy and fulfilling career.

The Employer’s Role in Career Management

Along with the employee, the person’s manager and employer have career management
responsibilities. These depend partly on how long the employee has been with the firm.

Employer Career Management Methods

Some employers create Web-based or offline libraries of career development materials, and
offer career workshops and perhaps individual career coaches for career guidance. In addition
to career development training and follow-up support, the program included career
development centers at work sites that employees could use on company time.

Employee Engagement Guide for Managers

Career Management
Employers today therefore have to think through how they’re going to maintain employee
engagement, and thereby minimize voluntary departures, and maximize employee effort.

Commitment-Oriented Career Development Efforts

Given the importance to most people of having a fulfilling and successful career, career
planning and development can play an important role in engagement. Managed effectively,
the employer’s career development process should send the signal that the employer cares
about the employee’s career success. As mentioned earlier, this doesn’t necessarily have to be
complicated.

Managing Employee Turnover and Retention

 Managing Voluntary Turnover

 A Comprehensive Approach to Retaining Employees
 Job Withdrawal
 Making Promotion Decisions
 Managing Transfers
 Managing Retirements

Managing Dismissals

 Grounds for Dismissal

 Avoiding Wrongful Discharge Suits
 Security Measures
 Supervisor Liability
 The Exit Process and Termination Interview
 Layoffs and the Plant Closing Law
 Adjusting to Downsizings and Mergers

Chapter 11 : Establishing Strategic Pay Plans