Career management

Finance University under the government of Russian Federation

International Finance Faculty

 

 

Department « Management »

 

Referat on the topic:

                                     «Career management»

 

 

 

Prepared by a student of IFF 2-1

Rasstrishenkov Ivan

 

 

 

 

Moscow 2013

Plan.

1. Introduction. Theoretical part……………………………………..……3

2. Company introduction…………………………………………………11

3. Career management in Hilton Hotels Company………………………16

4. Conclusion……………………………………………………………..25

List of references………………………………………………………….26

 

 

 

 

 

 

 

 

 

 

 

 

 

Introduction. Theoretical part.

Career management is concerned with the provision of opportunities for people to develop their abilities and their careers in order to ensure that the organization has the flow of talent it needs and to satisfy their own aspirations. It is about integrating the needs of the organization with the needs of the individual.

An important part of career management is career planning, which shapes the progression of individuals within an organization in accordance with assessments of organizational needs, defined employee success profiles and the performance, potential and preferences of individ- ual members of the enterprise. But career management is also concerned with career counselling to help people develop their careers to their advantage as well as that of the organization.

For the organization the aim of career management is to meet the objectives of its talent man- agement policies, which are to ensure that there is a talent flow that creates and maintains the required talent pool. For employees the aims of career management policies are: 1) to give them the guidance, support and encouragement they need to fulfil their potential and achieve a successful career with the organization in tune with their talents and ambitions, and 2) to provide those with promise a sequence of experience and learning activities that will equip them for whatever level of responsibility they have the ability to reach.

Career management calls for an approach that explicitly takes into account both organiza- tional needs and employee interests. It calls for creativity in identifying ways to provide devel- opment opportunities. Career management policies and practices are best based on an understanding of the stages through which careers progress in organizations.

The stages of a career within an organization can be described as a career lifecycle.

There are a list of career management «stages»  :

1. Entry to the organization when the individual can begin the process of self-directed career planning.
2. Progress within particular areas of work where skills and potential are developed through experience, training, coaching, mentoring and performance management.
3. Mid-career when some people will still have good career prospects while others may have got as far as they are going to get, or at least feel that they have. It is nec- essary to ensure that these ‘plateaued’ people do not lose interest at this stage by taking such steps as providing them with cross-functional moves, job rotation, special assignments, recognition and rewards for effective performance, etc.
4. Later career when individuals may have settled down at whatever level they have reached but are beginning to be concerned about the future. They need to be treated with respect as people who are still making a contribution and given oppor- tunities to take on new challenges wherever this is possible. They may also need reassurance about their future with the organization and what is to happen to them when they leave.

End of career with the organization – the possibility of phasing disengagement by being given the chance to work part time for a period before they finally have to go should be considered at this stage.

Career management should be based on an understanding of career dynamics. This is concerned with how careers progress –  the ways in which people move through their careers either upwards when they are promoted, or by enlarging or enriching their roles to take on greater responsibilities or make more use of their skills and abilities. The three stages of career progression – expanding, establishing and maturing.

Career management activities

Career management encompasses recruitment, personal development plans, lateral moves, special assignments at home or abroad, development positions, career bridges, lateral moves and support for employees who want to develop.

Career management practices:

 

1. Postings regarding internal job openings.
2. Formal education as part of career development.
3. Performance appraisal as a basis for career planning.
4. Career counselling by manager.\
5. Lateral moves to create cross-functional experience.
6. Career counselling by HR department.
7. Retirement preparation programmes.
8. Succession planning.
9. Formal mentoring.  
    
   The organization needs to decide on the extent to which it ‘makes or buys’ talented people. Should it grow its own talent (a promotion from within policy) or should it rely on external recruitment (bringing ‘fresh blood’ into the organization)? The policy may be to recruit potentially high performers who will be good at their present job and are rewarded accordingly. If they are really good, they will be promoted and the enterprise will get what it wants. Deliberately to train managers for a future that may never happen is a waste of time. In contrast and less frequently, employers who believe in long-term career planning develop structured approaches to career management. These include elaborate reviews of performance and potential, assess- ment centres to identify talent or confirm that it is there, ‘high flyer’ schemes and planned job moves in line with a predetermined programme.

There may also be policies for dealing with the ‘plateaued’  manager who has got so far but will get no further. Some managers in this position may be reconciled to reaching that level but continue to work effectively. Others will become bored, frustrated and unproductive, espe- cially rising stars on the wane. The steps that can be taken to deal with this problem include:

• lateral moves into different functional areas or specialized subsidiaries, in order to provide new challenges and career breadth;
• temporary assignments and secondments outside the organization;  
  • appointments as leaders of project teams set up to deal with performance barriers inside the organization such as the slowness of responses to customer complaints.

Performance and potential assessments.

The aim of performance and potential assessments is to identify learning and development needs, provide guidance on possible directions in which an individual’s career might go, and indicate who has potential for promotion. This information can be obtained from performance management processes.

Assessment of potential can be carried out formally by managers following a performance review. They may be asked to identify people who have very high potential, some potential or no potential at all. They may also be asked to indicate when individuals will be ready for pro- motion and how far they are likely to get. The problem with this sort of assessment is that managers find it difficult to forecast the future for the people they are reviewing – good performance in the current job does not guarantee that individuals will be able to cope with wider responsibilities, especially if this involves moving into management, and managers may not necessarily be aware of the qualities required for longer-term promotion. But the organization does need information on those with potential and assessors should be encouraged at least to indicate that this is someone who is not only performing well in the present job but may well perform well in higher-level jobs. This information can identify those who may be nominated to attend development centres, which can be used to establish potential and discuss career plans.

Career planning involves the definition of career paths – the routes people can take to advance their careers within an organization. It uses all the information provided by the organization’s assessments of requirements, the assessments of performance and potential and management succession plans, and translates it into the form of individual career development programmes and general arrangements for management development, career counselling and mentoring.

It is possible to define career progression in terms of what people are required to know and be able to do to carry out work to progress up the ‘career ladder’ (the sequence of jobs at increasing levels of responsibility, which constitute a career). These levels can be described as

competency bands. For each band, the competencies needed to achieve a move to that level would be defined to produce a career map incorporating ‘aiming points’ for individuals. This would help them to plan their own development, although support and guidance should be provided by their managers, HR spe- cialists and, if they exist, management development advisers or mentors. The provision of additional experience and training could be arranged as appropriate, but it would be impor- tant to clarify what individual employees need to do for themselves if they want to progress within the organization.

The process of internal job application has become the main way in which employees manage their careers.

The organization may need to manage careers as part of its talent management and manage- ment succession programmes and can provide support and guidance to people with potential. Ultimately, however, it is up to individuals to manage their own careers within and beyond their present organization. The original concept of career anchors was developed at a time when jobs were relatively static and career paths within and between organizations were fairly easy to map. Although the career anchor is designed as a self-analysis tool it can be used by career counsel- lors within and outside organizations as the basis for discussing career plans and how they can be realized, but it is necessary to consider the changing perceptions of people about their careers. Research on career anchors in a changing business environment based on interviews with 540 managers, indicated that younger managers were more oriented towards their own skills and what they could contribute, whereas older managers were more inclined to be aware of the limitations of their role in the organization. It was stressed that this difference needed to be taken into account by those involved in career planning within organizations.

An individual’s career is the sole source of one’s natural expression of self. One school of thought describes work as the purpose of life and the source of one’s expression and the purpose of being or existence. Yet others believe that there is a wide difference between an individual’s career and his life. In any case, career is an integral component of one’s life and therefore the need for its management. Career management is more or less like the organisational management; after all an organisation is nothing but an assortment of individuals! The process of career management begins with the formulation of goals and objectives those that are short term or meant to be achieved in the short run.

This is a tedious task compared to a long term career goal which is more or visionary in nature. Since the objective is short term or immediate, it is more of action oriented. Second it demands achievement every day, every moment. Again this step can be very difficult for those who are not aware of the opportunities available or are not completely conscious of their talents. However more specific, measurable and achievable the goals greater are the chances of the management plan bearing fruit.

Achievement of goal requires a well chalked strategy, which implies a plan of action to achieve the goal. This has to be followed by drafting or establishment of procedures / policies / norms or rules that govern action or practice.

The final step in the career management process is evaluation of the career management plan for ensuring that progress is being made or if there is a need to introduce some changes in the latter.

One may also utilize the services of various career assessment tests at various stages to choose career paths that are in tandem with ones likes and dislikes, strengths and weaknesses. These tests range from ones that are small and brief to the ones that are exhaustive offering minute details. Some of the tests that one may like to undergo are MBTI (Myers and Briggs Type Indicator), SDI (Strength Deployment Inventory) and Multiple Intelligence among others.

The onus of career management is more on the individual self than the employer. Ensuring personal development in terms of skills, competencies, change in attitude with time are things one may need to take care of on one’s own. Short term goals need to met and evaluated. The long term career goals need to be revised with the change in employment scenario and self; organisations may or may not be concerned in a big way or aligned to your priorities in career and life. Often counselling is of major help in evaluating a job and the future prospects and for establishing clarity of values for they undergo a change with the passage of time!

 

 

 

 

 

Company introduction.

 

Hilton Hotels Corp. in China.

 

Hilton Hotels & Resorts(formerly known as Hilton Hotels) is an international chain of full service hotels and resorts, it is the flagship brand of Hilton Worldwide. The original company was founded by Conrad Hilton and is now owned by Hilton Worldwide. Hilton hotels are either owned by, managed by, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast hotel chain of the United States in 1943. As of 2010, there are now over 530 Hilton branded hotels across the world in 78 countries across six continents.

 

The Hilton Hotels brand remains one of the company's flagship brands and one of the largest hotel brands in the world. The company places marketing emphasis on both business travel and leisure travel with locations in major city centers, near airports, convention centers, and a number of vacation resorts and leisure-oriented hotels in popular vacation destinations around the world.

The company's Hilton Honors guest loyalty program is one of the largest of its kind and has numerous partnerships with airlines and car rental companies. Some Hilton Hotels feature an Executive Level lounge for Honors Gold and Diamond members and those willing to pay for Executive Rooms. The lounge is normally located on the highest floor of the hotel building. In addition to Hilton Hotels, the Hilton Honors membership can also be used at all other Hilton Worldwide brands.

The U.S. branch of Hilton hotels was reunited with the international properties after more than 40 years in February 2006, when United States-based Hilton Hotels Corporation purchased the hotels division of United Kingdom-based Hilton Group plc, which had acquired Hilton's International operations in 1987 (the companies had been separated originally in 1964).

 

Hilton Hotels are upscale, full service properties catering to business travel and leisure guests. They are a chain of over 500 hotels all over the world from Rome to Omaha. Hilton Hotels are enjoying a phenomenal growth in online sales. Hilton hotels are the place for you if you want a distinctive hotel. The original company was founded in 1919 by Conrad Hilton. Conrad Hilton was determined to maximize every square foot of hotel space and serve the hotel guest. Mr. Hilton bought his first hotel in Cisco, Texas in 1919. And, of course there's always Paris. Paris is the great-granddaughter of Conrad Hilton, founder of the Hilton hotels and source of an estimated $300 million family fortune. Paris Hilton is the daughter of one of the sons of Mr. Hilton, a hotel magnate. Conrad Hilton (1887-1979) was born in San Antonio. He was determined that his hotel to be the best in every city and coined the phrase, "take me to the Hilton". And, of course there's always Paris. Paris is the great-granddaughter of Conrad Hilton, founder of the Hilton hotels and source of an estimated $300 million family fortune. Paris Hilton is the daughter of one of the sons of Mr. Hilton, a hotel magnate. Conrad Hilton (1887-1979). Hilton hotels are known for featuring world class accommodations in the countries hottest destinations. The hotels are adding MP3-friendly alarm clocks, allowing guests to awaken to their own music. They are internationally known for their Hilton Meetings Business Centres. Hilton Hotels are known for a high level of comfort and prestige. The Port of San Diego and Hilton are planning to develop a 1200-room hotel on the waterfront adjacent to the San Diego Convention Center. Mr. Hilton bought his first hotel in Cisco, Texas in 1919. And, of course there's always Paris. Paris is the great-granddaughter of Conrad Hilton, founder of the Hilton hotels and source of an estimated $300 million family fortune. Paris Hilton is the daughter of one of the sons of Mr. Hilton, a hotel magnate. Conrad Hilton (1887-1979) was born in San Antonio. He was determined that his hotel to be the best in every city and coined the phrase, "take me to the Hilton". HHonors program effectiveness has grown from 34% in 2002 to 40% now. The program is designed to thank meeting planners who schedule events at Hilton Hotels worldwide. The program Members can earn both HHonors points and airline miles for the same business rate stay - what we call Double Dipping. MilePoint sponsors, in addition to the Hilton HHonors program, are America West, Continental, Delta, Northwest, TWA, US Airways and Hilton Hotels. The American Express Hilton Hhonors Program Credit card earns points for free stays at Hilton hotels. Hilton Hotels are internationally known for their Hilton Meetings Business Centers. Business travel has always been a top priority of the chain. Since 1919, Hilton Hotels has led the way with innovations for executives on the road. Maureen Mackey is Managing Director of Sales, Business Travel Sales for Hilton Hotels Corporation. Hilton hotels are upscale, full service properties catering to business and leisure guests. Hilton hotels are known for featuring world class accommodations in the countries hottest destinations. The prestigious Hilton Malta promises the best in accommodation and a high standard of service for which Hilton hotels are renowned. For business or pleasure the Homewood suites by Hilton hotels are designed with all the comforts of home in mind. The Hotels are the "Official Hotel Group of UK Athletics and the Great Britain and Northern Ireland Athletics Team." Hilton Hotels are now building computer files on customer preferences using a system called OnQ, pronounced "on cue". The Hotels are known across the globe and offer a choice of 2700 quality hotels in the UK, Europe, Asia, America, Africa and Australia. Room 902 in the Amsterdam Hilton became famous when in 1969 Yoko Ono and John Lennon staged their first Bed-In for Peace. The Corporation is based in Beverly Hills. Hilton hotels are the most recognized name in the global lodging industry and have been in service for more than 80 years. The chain is focused on the needs of business and leisure travelers who desire a full array of quality services. Copyright © Mary Hanna, All Rights Reserved. This article may be distributed freely on your website and in your ezines, as long as this entire article, copyright notice, links and the resource box are unchanged.

Now, let’s consider STEP and SWOT analisis of the company at all, and in China as a segment of the hotel’s market with it’s features.

First of all, it is necessary to understand the market of hotel’s services and the situation with competitors on the defined segment of the market.

 

 

 

 

 

There are a lot of different hotels in China, and the sphere of hotel’s business is too full, but despite this fact, Hilton Hotels is one of the most effective and well-known hotels in this country. It is very interesting, because Hilton Hotels was appeared in China not far ago.

The main secret of the company in such a big country with a high level of competition is that the company has got a very high level of management and there are not many different kinds of hotels of this class.

Here is the short SWOT analysis of the company comparatively to the Chinese market.

As we can see, there is no one weakness of the company witch can effect to the situation with Chinese hotel’s businesses.

 

 

There are three main competitors all over the world, but only two of them represented in China: Marriot and Accor.

 

Organizational career management (OCM), also known as “organizational support for career development” or “organizational sponsorship,” refers to programs, processes, and other forms of assistance provided by organizations to support and enhance their employees’ career success. The modern day organization plays a significant new role in the career system by acting as a supportive developer of its human assets ,in contrast with the cradle-to-grave career development role played by firms in earlier decades. Although the responsibility for career management has shifted from the organization to the individual, the function of OCM should not be neglected. The organization is the enabler of a successful career, and effective career management will help to increase the company's competitive competencies.

The development of China's hotel industry has been impressive over the last three decades. However, the increasing growth rate in the Chinese hotel sector has been hindered by the quantity and quality of human resources available, such as the shortage of qualified staff at both operational and managerial levels. One way in which hotels may attract and retain qualified employees is by helping them to develop their own careers and increasing their career satisfaction. Given that career advancement has been identified as one of the most effective motivational strategies to retain qualified staff, career management has become a critical issue for the hospitality industry in China.

However, the research which is specially contextualized in the hotel sector in China is quite limited. Hilton’s hotel industry in China displays characteristics of fierce competition, and multiform ownership and management systems. The hotel industry in China was characterized by diverse ownerships, namely state-owned, collective, private, alliance, stock, foreign-invested and Hong Kong, Macao, and Taiwan-invested hotels. Of all the ownership types, state-owned hotels are by far still the dominant force, consisting of more than 5.7% of the total hotels in China. Although the Hilton hotels in China, such as state-owned hotels have successfully developed and innovated their management practices by combining international management skills with Chinese culture, it still takes time for them to practice comprehensive career management activities as the hotel management system in China is still immature. Furthermore, although hotels in China may adopt career management practices from western country, it remains difficult to implement effective career management strategies in the Chinese context due to the lack of professional trainers and special cultural influences. For example, the role of ‘face’ and harmony are significant aspects of social life in China. As most Chinese managers tended to minimize the loss of face and preserve harmonious relationships, the issue of face may complicate the process of employees’ performance appraisal. It is necessary to explore how career management is handled in the Chinese hotel sector and develop a new scale that captures hotel career management Hilton’s hotels in China.

OCM describe alternative career planning techniques and discuss their potential advantages, shortcomings, and probable impacts on psychological success and identity integration. It can be proposed as a variety of career management activities such as individual activities, counselor–client activities, and boss as counselor or coach, and focus on career practices that are individually based rather than organizationally based.

These activities are classified into six groups: employee self-assessment tools, organizational potential assessment, internal labor market information exchanges, individual counseling or career discussions, job-matching systems, and development programs. The career management activities investigated in their study consist of career reviews with superiors, psychometric testing and feedback, career planning workshops, self-assessment materials, information on career paths, fast-track programs, developmental assessment centers, assigned mentors, and informal mentors. Of all the OCM programs examined, career reviews with superiors is the most commonly adopted, followed by informal mentoring and the provision of career path information.

There are main 20 features of Hilton’s Hotel business in China and abroad.

Scale items

1. 360° performance appraisal

2. Job posting

3. Orientation/induction program

4. Formal education/tuition reimbursement

5. Lateral move (job rotations)

6. Dual-career ladders

7. Succession planning

8. Counseling by direct manager/by human resources manager

9. Formal mentoring

10. Performance appraisal as a basis for career planning

11. Retirement preparation programs

12. Common career paths

13. Booklets and/or pamphlets on career issues

14. Written personal career planning for employees

15. Assessment centers

16. Development centers

17. Career workshops

18. Special program (high-flyers, dual-career couples)

19. Creating psychological contracts

20. Secondments

 

A total of 22 personal interviews were conducted from February–May 2008 to collect information on major OCM practices. The target sample in the first-round of in-depth interviews consisted of the critical group of employees matching the following profile: hotel staff aged 20–38 in middle management positions with at least two-year work. The participants in the second-round in-depth interviews were six general managers and deputy general managers. With an average age of just over 42, these general managers and deputy general managers typically had on average of over eight years of hotel management. Two of them had gained international management. All the participants were male and had been educated to either Bachelor's or Master's degrees. Three of them had been educated to college certificate level and the rest were university graduates. All the interviews were conducted in Chinese and were transcribed before being translated into English.

The interviewer started the in-depth interviews by taking the participants through an open-ended questionnaire and asking them to describe the types of career management activities practiced in Hilton hotels. The interviewer recorded all the participants’ responses. Frequently mentioned career practices were summarized in the item pool. After asking all the open-ended questions, the interviewer then presented and explained the 20-item to the interviewees and asked to what extent these career management activities were conducted in Hilton hotel.

 

Hotels provide effective career management activities such as training, mentoring, performance appraisal, and development programs to their employees. These activities are beneficial to the development of career competency. For example, performance appraisal provide input to career planning, and help employees to be better aware of their performances. Mentoring plays an important role in directing career development and decision making. The use of these career activities helps Hilton hotels provide employees feedback on their strengths, and subsequently related to the competency of “knowing why”, “knowing whom”, and “knowing how”. Employees obtaining feedback of their performance can develop specific career goals, leading to the “knowing why” career competency. In addition, mentoring and training provide networking opportunities, and thus enhance the “knowing whom” competency. Organizational training and development programs also enhance employees’ learning and the “knowing how” competency. All of the above relationship lead to the following prediction that perceived hotel career management contribute positively to career competency.

Career satisfaction is the satisfaction that individuals derive from the intrinsic and extrinsic aspects of their careers, including pay, advancement, and developmental opportunities. Employees’  perceived career satisfaction reflects how they feel about their career-related roles, accomplishments, and success. Career satisfaction is an important predictor of career success that has been conceptualized as comprising both extrinsic and intrinsic outcomes, and is thus measured using both objective and subjective indicators. Objective career success indicates an external perspective that delineates more or less tangible indicators of an individual's career situation. Indicators of objective career success include salary, promotion, family structure, and job level. Subjective career success is defined as “individuals’ feelings of accomplishment and satisfaction with their careers”, and is most often measured by career satisfaction. As objective career success comprises visible outcomes, it usually depends on a third-person perspective, and thus does not reflect an employee's appraisal of his or her own success. In recent years, subjective measures of career success have become increasingly important, with career satisfaction being one of the most significant predictors of career success. This study thus focused on employees’ career satisfaction.

 

As stated, career competency comprises three types: “knowing why”, “knowing whom”, and “knowing how”. The “knowing-why” competency encompasses career insight, a proactive personality, and openness to experience. People who know themselves well are able to clarify their career aims, while people with a proactive personality tend to seek opportunities and act on them. Openness to experience refers to the degree to which individuals are curious, imaginative, creative, willing to accept changes, and accepting of. Individuals who score highly on this trait tend to achieve higher levels of job performance and seek regular training and development opportunities to acquire transferable skills. It has also been found that employees with high job performance scores are perceived to have more favorable advancement prospects, which is associated with a higher level of career satisfaction.

The “knowing whom” competency relates to the career-related networks, mentoring, and contacts of an individual both inside and outside the organization. Individuals in a mentoring relationship show great effectiveness in self-managing their own careers and better career success. Individuals often benefit greatly from networks, as networking inside and outside the organization helps them to stay on top of new developments and approaches. An employee can also gather career-relevant information and social capital through networks. As both internal and external networking aid career development, it is assumed that the “knowing whom” competency is an important predictor of career satisfaction.

The “knowing how” competency involves career- or job-related skills and career identity. Career identity is the degree to which people immerse themselves in skill-enhancing and professional activities. As employee skills are an important predictor of job performance, employees who are strong in a variety of skills are expected to receive better compensation and promotion opportunities, which increases their career satisfaction. Thus, the accumulation of career- or job-related skills may help to increase employee career satisfaction. This lead to the following prediction that:

Career competency may contribute positively to career satisfaction.

 

Hotels can enhance the career satisfaction of their employees by engaging in effective career management activities. It has been found that specific career management activities, such as job rotation schemes, are positively related to career satisfaction. Other career management practices, such as career sponsorship, training, and career development programs, also contribute positively to career satisfaction. Organizations try to enhance employee career satisfaction by providing effective career support, such as training, performance appraisal, and challenging jobs. This engenders a perception among employees of being supported by the organization, which leads to better career satisfaction and retention intention. Therefore it is hypothesized that perceived hotel career management may contribute positively to career satisfaction.

 

In addition to its direct influence on career satisfaction, career competency mediate the relationship between hotel career management and career satisfaction. The function of a mediator represents the generative mechanism through which the focal independent variable is able to influence the dependent variable of interest. There are two forms of mediation: full mediation and partial mediation. When the direct effect between the independent variable and the dependent variable is no longer statistically different from zero after controlling for the mediator variable, the effect is said to be one of full mediations. However, if the absolute size of the direct effect between the independent variable and the dependent variable is reduced after controlling for the mediator variable but the direct effect is still significant, then the mediation effect is regarded as partial.

 

 

Conclusion.

All in all the adducted theory is the key for a successful hotel business in China and Hilton Hotels follows all of these points. That’s why I tried to organize my work in this way, it is necessary to understand every singularity of the sphere and company’s work. Career management is one of the most important features for a good and stable business and if you follow every stage you will get a strong model of hotel’s company with the satisfied customers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References:

1.Ball, B. (1997). "Career management competences – the individual perspective". Career Development International 2 (2): 74–79.

 

2.Ibarra, Herminia (2003). Working identity: unconventional strategies for reinventing your career. Harvard Business Press.

 

3.Strenger, Carlo (2008). "The Existential Necessity of Midlife Change". Harvard Business Review. February 2008: 82–90.