Important Factors Of The Career Planning For Future

Important Factors Of The Career Planning For Future

Important Factors Of The Career Planning For Future

Career planning makes a great objective in life and it organizes activities for your future career intention. It is the way of creating a secure bright future for your family as well as for yourself. 

But you need to know the importance of planning in management initially. Every individual should choose a career path that matches her/his capability and interests. It is the main solution to a satisfying and successful career. But, most of them fail to realize it. 

 

When To Start Career Planning?

It is necessary to realize the importance of career planning as early as possible from school life. This period would allow you to choose the right education field for you based on your future. But, most people don’t understand this and select the wrong major that does not suit their requirements. 

So, they waste a major part of their precious time under it. Later on, students face several challenges in the career field for not having relevant skills and ultimately fail to succeed in life. 

The fundamental role comes from relatives, parents, experts or teachers to ensure your bright future. They should help you in fulfilling your targeted desire. They should guide you with all the steps and processes needed to secure a solid foundation for your career.

 

Important Factors Of The Career Planning For Future:

 

1. Career planning offers you an environment for the proceeding personal reflection:

The right career planning takes weaknesses, strengths, and capabilities into account for the necessity of your career. It offers you an opportunity to reflect on how your career plan leads to a successful life, what you have to give to the world and find ways so that you can grow professionally and personally.

 

2. Career planning gives you a roadmap for your future:

A concrete career planning is essential as it can provide a road map for your future. It helps you make informed decisions about the current job situation in a specific field as well as for future career moves. The importance of planning in management gives you an idea about which path you can opt for to get from Point A (where you are now currently)  to Point B (your ideal goal). You’ll be able to determine the actions you need to get there with the set goal. They may include steps like attending relevant events to make new connections, assessing descriptions of jobs to check what you need to qualify for them, and exploring different organizations to see if they’re the right fit.

 

3. Career planning helps you recognize gaps you need to fill:

Career planning helps you determine where you might need to learn a little more. It can be accomplished by becoming certified in a new skill, taking additional courses, or even pursuing higher education. It gives you the opportunity to fill all the gaps gradually to reach the desired goal. 

 

4. Career planning helps in avoiding joblessness:

There was a time when many people who hold a Master in Business Administration (MBA) degree were allowed to join any large corporate organization in India. But, in today’s scenario, 90% of MBA graduates either work on jobs that don’t pay well or have no employment. So, there they get to know the importance of planning in management.

The same scenario holds true even for Engineers. About 80% of engineering graduates are unemployed as they don’t have the right skills. Moreover, there is not much demand for engineers in the job market to give jobs to a million engineering graduates every year. So, proper career planning helps you to avoid being unemployed due to outdated skills or lack of demand. 

 

5. Career planning prevents financial losses:

During the past decade, the students in India took an enormous loan of about 150 billion to finance their education. Out of this, 30 billion was taken for medicine, 30 billion was taken for engineering, 13 billion for MBA studies, 22 billion for nursing studies and 40 billion for all the other courses. 

Most of the students are unable to pay back these loans due to high interest rates and poor salaries as per the Indian Banks Association (IBA). Regardless of this reason, these students may find it very difficult to get a loan in the future due to non-repayment of or slower education loans. Moreover, the interest on these loans would continue to increase when the repayments are late. 

In simple terms, this forms a financial disaster for individuals or students who haven’t planned their careers. These financial setbacks can severely affect future plans as well such as buying property for residence or in doing business or weddings. 

 

6. Mental health and career planning:

India’s National Crime Reports Bureau (NCRB) states that nearly 3% of all suicide attempts committed by individuals happen due to the reason of unemployment. Apart from all these, unemployment is the cause of severe health problems. So, these kinds of unpleasant situations can be easily avoided with the help of appropriate career planning. 

In India, career and employment go hand-in-hand with status. Hence career planning is extremely essential to ensure that you enjoy a good status in society and rise higher along socially and financially. 

 

7. Career planning helps you understand various trends of the jobs:

The other reason why career planning is a necessary factor for a successful future is the ability it offers to understand and read well-paid businesses or job market trends. When you start planning a career, you’ll certainly have to keep in mind the emerging and new professions and determine the scope of these upcoming professions as per your inborn talents and interests. 

When you stay updated with trends, the chances of your skills going outdated are lower. When you identify your emerging career options as per the functioning of your brain, you are ensuring and future-proofing that your skills remain relevant till you retire.

Thus, all the above important factors of career planning need to be known extremely so that the commitment of mistakes can be prevented. 

Frequently Asked Questions

  • What is career planning?

    Career planning helps you in identifying your skills, talents, interests and values for possible careers or jobs. The process of career planning is a significant aspect of an individual’s career development.

  • What is the importance of career planning?

    Career planning is a step-by-step process that enables a person to focus on where they want to be in life professionally. It can assist them to plan their journey in their professional life with both long-term and short-term goals in place.

  • What are the processes of career planning?

    There are various processes of career planning which includes self-assessment, researching on opportunities and careers, setting career objectives, improving and learning skills, preparation of the resume and job search.