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A career is a person's path or progress through life. Career stages include retirement disengagement, Midcareer crisis and reassessment. Career vision is a roadmap to help you achieve your career goals.
A career is a person's path or progress through life. Career stages include retirement disengagement, Midcareer crisis and reassessment. Career vision is a roadmap to help you achieve your career goals.
A career is a person's path or progress through life. Career stages include retirement disengagement, Midcareer crisis and reassessment. Career vision is a roadmap to help you achieve your career goals.
PM 101 Career path Planning Prof. Vishy 15 th April LS 106-S1 & S2 2 IPL CONFIDENTIAL Course Topic Outline 2 Defining Careers Career & Self Concept Career Stages Career Coaching Process Personality Preferences Career Anchors Personalized Career Anchor Report Career Values Career Interviews for Feedback Career Vision Career Transitions Model
3 3 Knowing yourself 4 IPL CONFIDENTIAL What is a Career ? The Shorter Oxford Dictionary simply defines it as: a persons path or progress through life
From an Occupational perspective, it is a persons chosen occupation craft or profession 5 IPL CONFIDENTIAL Career and Self Concept As a career evolves, the person develops a self concept that includes answers to some of the following questions:
What are my talent skills and areas of competence? What are my strengths and weaknesses? What are my motives, needs, drives and goals in life? What are my values, the main criteria with which I judge what I am doing? How proud or ashamed am I about my work and career? 6 IPL CONFIDENTIAL Evolution of Careers Issue Traditional Career Protean Career Whos in charge? Organization Person Core values Advancement Freedom and growth Work-life integration Degree of mobility Lower High Key attitudes Commitment to organization Commitment to profession Work satisfaction Work to live not live to work Success criteria Position level / title Salary Psychological success Meaningful work 7 This framework was developed by Edgar Schein Career Stages Retirement Disengagement Maintaining Momentum or leveling off Midcareer crisis/Reassessment Gaining Tenure / Permanent Membership Gaining of membership Basic Training and socialization Entry into the world of work Education and training Growth fantasy and exploration 8 IPL CONFIDENTIAL Career Progress Career Progress Movement in Influence and Power Hierarchical movement Cross functional Horizontal movement 9 IPL CONFIDENTIAL Career Development Plan Personality Preferences Career Anchors Personal Values Skills & Ambition 10 IPL CONFIDENTIAL Career Coaching Process Autobiography and Peak Experiences (high points) Personality Preferences Career Anchors Career Values Assessment Interview with Others (skills) 10 Years Out (personal vision) Career Development Plan 11 IPL CONFIDENTIAL The Personality preferences test Please score the questionnaire handed to you There are no right or wrong answers Choose the answer which comes most easily to you dont over analyze Take a feet on the table approach what would you like to do if you had no pressures and could do what you wished 12 IPL CONFIDENTIAL The Peak Experience Exercise (When were you in flow ?) Reflect on experiences that have been highlights in your work or non-work life List the top 6-8 peak experiences Provide description of event, activity, or accomplishment Describe what makes it a peak experience Reflects your passions, skills and values 13 IPL CONFIDENTIAL The Peak Experience Exercise (When were you in flow ?) Description of the Experience What was the nature of challenge? What skills did you deploy? What did you value most about the experience? 14 IPL CONFIDENTIAL Values: Career Values Inventory Determine relative strength of possible values For those that are always valued column, prioritize and select top 5 In small groups, share: Highest values Surprises in sorting values 15 IPL CONFIDENTIAL What is a Career Anchor? The theory was proposed by Edgar Schein, after conducting a longitudinal study at MIT starting in the 1960s.
Career Anchor indicates an area of such paramount importance to the person that he or she will not give it up
The anchor begins to define the self image of the person and therefore career choices over the long run are consistent with this anchor 16 IPL CONFIDENTIAL Career Anchors Model 17 IPL CONFIDENTIAL This framework was developed by Edgar Schein Types of Career Anchors Technical/ Functional Competence General Managerial Competence Autonomy /Independence Security/Stability Entrepreneurial Creativity Service Dedication to a cause Pure Challenge Lifestyle 18 IPL CONFIDENTIAL Technical Functional Competence Type of work In the area of their Expertise / Specialization Technical challenges are a motivator Interested in intrinsic content Like autonomy in how they do things tolerate the administrators/ managers Recognition and Benefits Looks for external equity Prefers professional peer recognition to managerial Prefer absolute pay to stock options / golden hand cuffs 19 IPL CONFIDENTIAL Technical Functional Competence Motivators and Values Self image and esteem tied up with competence Challenging work in functional area Professional Membership Mentoring and Passing on skills
Typical Jobs/ Roles Research Scientist Security Specialist Functional Specialist Domain Consultant 20 IPL CONFIDENTIAL General Managerial Competence Type of work Cross functional integrative and varied work View specialization as a trap Typically possess interpersonal and emotional competence High level of responsibility is important Job must directly co relate to organizational success Recognition and Benefits Looks for internal equity Promotions / Rank / Title /increase in responsibility are motivators Prefer stock options / golden hand cuffs etc. 21 IPL CONFIDENTIAL General Managerial Competence Motivators and Values Motivating others Emotional and Interpersonal competence (stimulated by crisis) Solving problems analytical competence Taking touch decisions Achieving Success Typical Jobs / Roles P & L leader CEO Business Head 22 IPL CONFIDENTIAL Autonomy / Independence Type of work Dont like being bound by rules/ procedures/ dress codes Prefers clearly delineated, time bound work in expertise area Contract / project / part time work are welcome Cannot stand close supervision Wants autonomy on how work gets done Recognition and Benefits Immediate payoffs with no stings attached Cafeteria style benefits within an organization Medals, testimonials, Letters of commendation mean more
23 IPL CONFIDENTIAL Autonomy Motivators and Values Flexible employment patterns Working independently Being free from constraints Work that is time bound and clearly delineated Self motivated
Typical Jobs / Roles Freelance Trainers Consultants Part time workers
24 IPL CONFIDENTIAL Security / Stability Type of work Prefer jobs which provide job tenure and are known to be stable Jobs which need steady performance Predictable environment Provides financial security
Recognition and Benefits Steady increments Published Grade and rank system Good retirement plans and benefit programs
25 IPL CONFIDENTIAL Security and Stability Motivators and Values Predictable future Loyalty Job security Adaptable Conformity
Typical Jobs / Roles Government Jobs Public Sector Banking roles Accounting
26 IPL CONFIDENTIAL Entrepreneurial Creativity Type of work Create new businesses of their own offering products and services Obsessed with need to create and get bored easily Constantly require creative challenges Typically gets expressed early in life
Recognition and Benefits Making money is a measure of success High personal visibility and public recognition are important Ownership of the enterprise is the most crucial issue Building Size and / or Fortune are key drivers 27 IPL CONFIDENTIAL Entrepreneurial Creativity Motivators and Values Creating new ways of working Working on new ideas Variety and change High levels of energy Open minded employers
Typical Jobs / Roles Startup founders Enterprise heads Product creators
28 IPL CONFIDENTIAL Service/Dedication to a Cause Type of work Desire to improve the world in some way Work must be aligned to ones values Desire to serve is usually high Talent and competencies are not seen as important
Recognition and Benefits Money is usually not central to them Shared values with the context is most important Fair pay for effort is the principle Promotion usually would mean more autonomy
29 IPL CONFIDENTIAL Service/Dedication to a Cause Motivators and Values Living ones values Strong Minded Meaning at work Helping Openness Typical Jobs / Roles Product Evangelist Tech Support NGOs / Social work Teaching / Mentoring 30 IPL CONFIDENTIAL Pure Challenge Type of work Continuing challenge not necessarily in area of expertise warriors who see work as a competitive space Constant need to Self test ones competence Overcoming the impossible, Solving the unsolvable
Recognition and Benefits All forms of pay, benefits and recognition are subordinate to the challenge in the work they do
31 IPL CONFIDENTIAL Pure Challenge Motivators and Values Winning Competition Working on Complex and difficult problems Testing their abilities Variety
Typical Jobs / Roles High end Strategy Consultants Management Consulting
32 IPL CONFIDENTIAL Lifestyle Type of work Work must be organized around their lifestyle Career is seen as an integration of Individual, Family and the career Flexibility is the key principle Recognition and Benefits Flexible working options Family needs are respected by the organization Geographical movements only when desired by the individual Other options like sabbaticals, paternity leave, part time work etc 33 IPL CONFIDENTIAL Lifestyle Motivators and Values Flexibility in work patterns Work life balance Sensitivity to personal needs Career is a means to a lifestyle
Typical Jobs / Roles Flexible work profiles
34 IPL CONFIDENTIAL EXECUTIVE MBA IN PRODUCT LEADERSHIP PM 101 Career path Planning Prof. Vishy May 10 th , 2014 LS 106-S3 35 IPL CONFIDENTIAL Skills: Interview with Significant Others Get feedback on your skills and competencies from those who know you well Provides you the gift of external perspective You can conduct many interviews with different people but should include at least: One personal - someone who knows you well One professional someone you have worked closely with 36 IPL CONFIDENTIAL Life Goals: The 10 Years Out Exercise Intended to give you greater insight into what your career and work are leading you to This is your personal vision Articulating this will provide a clearer sense of whats important professionally and personally and why Creating mental image of life 10 (or 5) years from today All questions answered as if it is 5 or 10 years from today 37 IPL CONFIDENTIAL Career Plan What does success look like? What do you see ? Hear ? Feel?
Primary Career Portfolio / Choice
Long term professional position you are in and type of company?
18 month milestones starting now 38 IPL CONFIDENTIAL 1. Managing Managers globally 2. Delivering an important business objective without formal authority 3. Managing a merger or acquisition or a key partnership alliance 4. Leading an organization wide change initiative
5. Creating product or business strategy 6. Leading a cross functional team 7. Leading a turnaround 8. Handling a P & L
Experience Category I : Exposure to Challenging Situations Experience Category II : Leading a business
9. Accountable to stakeholders with competing Interests 10. Building solid relationships with external customers or accounts 11. Working with CEO / Executive Committee/ Members of the Board 12. Recruiting, Selecting and Retaining a Senior Executive team
Experience Category III : Leading Internal and External Constituents 13. New Product Design and Development 14. Product Management 15. Marketing and Business development 16. Retail / Channel Management
Experience Category IV : Key Functional Experiences Critical Experiences Inventory 39 IPL CONFIDENTIAL Career Plan What functional and leadership skills, knowledge experiences do you need to reach the first milestone? (Know How)
What networks and alliances do you need? (Know Who)
What are the actions you need to take for each of the above starting today? 40 IPL CONFIDENTIAL The Career Transitions Model Crafting Experiments: Trying out new activities and professional roles on a small scale before making a major commitment to a different path Working identity is defined by what we do and activities that engage us Shifting Connections: Developing contacts who can open doors to new worlds. Finding role models and new peer groups to guide and benchmark our progress. Working Identity is defined by the company we keep Making sense: Finding or creating catalysts and triggers that allow us to rework our stories and continually refine it to find meaning Working identity is defined by the stories of who we have been and who we will become Working identity Strategies for Reworking identity 41 IPL CONFIDENTIAL Strategies for Career Transitions Act yourself into a new way of thinking and being Focus of which of your possible selves you want to test or know about Allow yourself a transition period in which it is okay to oscillate between holding on and letting go Use a strategy of small wins in which incremental gains will lead you to profound changes. Accept the crooked path Identify projects that give you a feel for the new line of work. Committed Flirtation 42 IPL CONFIDENTIAL Strategies for Career Transitions Dont just work. Find people who are what you want to be and who can provide support for the transitions. You wont find them in your existing social circles Dont wait for truth to be revealed to you. Use everyday occurrences to find meaning and practice telling and retelling your story. Typical transitions take 3 to 5 years Step Back. But not for too long. Change happens in bursts and starts. There are times when you are open to big changes. Sometimes not. 43 IPL CONFIDENTIAL Key Transition Challenges The Promotion Challenge The Leading your Peers Challenge The Corporate Diplomacy Challenge The On-boarding challenge The International Move Challenge The Turn around Challenge The Realignment challenge 44 IPL CONFIDENTIAL Steps to Transition - Watkins 1. Organize to learn. Figure out what you most need to learn, from whom, and how you can best learn it. Focus on the right mix of technical, cultural, and political learning.
2. Establish A-list priorities. Identify a few vital goals and pursue them relentlessly. Think early about what you need to accomplish by the end of year one in the new position.
3. Define strategic intent. Develop and communicate a compelling mission and vision for what the organization will become. Outline a clear strategy for achieving the mission and realizing the vision. 45 IPL CONFIDENTIAL 4. Build the leadership team. Define your assessment criteria and evaluate the team you inherited. Move deftly to make the necessary changes; find the optimal balance between bringing in outside talent and promoting high-potential leaders within the organization.
5. Lay the organizational foundation for success. Identify the most important supporting changes you need to make in the structure, processes, and key talent bases of the organization. Put a plan in place for addressing the most pressing organizational weaknesses. Steps to Transition - Watkins 46 IPL CONFIDENTIAL 6. Secure early wins. Build personal credibility and energize people by identifying centers of gravity where you can get some early successes. Organize the right set of initiatives to secure early wins.
7. Create supportive alliances. Identify how the organization really works and who has influence. Understand who needs to champion your success and create key alliances in support of your initiatives. Steps to Transition - Watkins 47 IPL CONFIDENTIAL Political Missteps Dependence on one single sponsor Reliance on narrow skill set Not learning from experiences Personal Characteristics Arrogance, Insensitivity Career De-railers : Watch Outs 48 IPL CONFIDENTIAL Summary Understand your anchors, assets/strengths Augment yourself with as many Accelerators as feasible Benchmark success in your organization Develop deeper expertise Create the right networks For PMs with technology background its important to become a generalist
49 IPL CONFIDENTIAL Resources for further exploration Self Assessment: MBTI Career Report Career Leader: http://www.careerleader.com/ Learning Styles: http://www.learning-styles-online.com/inventory/
Books Working Identity : Herminia Ibarra Now, Discover your Strengths: Marcus Buckingham The start up of you: Reid Hoffman and Ben Casnocha Mass Career Customization: Anne Weisberg, Cathy Benko