People have to come to grips with the hard fact that there are limits on how loyal an employer can be. Firms can no longer throw money and people at problems. They have to find better solution faster with less money. Socio economic changes have altered the relationship between organizations and employees. For many organizations the traditional contract, based on an exchange of lifelong employment and steady career progress in return for commitment and loyalty, no longer fits with their strategic objectives. Increasing needs for adaptability, flexibility and creativity in responding to global markets and customers have resulted in new type of relationships. For the perspective of employees also, there is a changing attitude towards the employment relationship, organization can no longer consider, the commitment of their employees as a given they have to earn it offering the right mix of employment conditions has become a necessity in stimulating commitment and willingness to use one's talents for the sake of the company. Moreover, demographic changes in the workforce will force organization to anticipate changes on the labour market in the forthcoming years and prepare them to retain best suitable talent. It is a known fact that most professionals leave an organization due to lack of career growth.
Active career development initi...
Form the employee's point of view career development initiatives gives them a clear focus about their career track. Economic and technological changes have resulted in working careers becoming more unpredictable. Presently, career opportunities tend to be seen in the light of employability (van Dam, 2004) recognizing that career development frequently goes beyond the boundaries of one organization (Boundary less careers; Arthur, 1994). Career development can be understood as an enumeration of consecutive job and training. In continuation with demands of the modern labour market, there is increased emphasis on employees' active role and level of involvement with respect to his or her career. This is reflected in concepts such as personal initiatives (Frese, 2001), employability (Van Dam, 2004), or preparedness to change (Schyns, 2004). Career development is taken as active career actualization, which we can define as the realization of personal goals and values in one's career vis--vis the facilitation and constraining conditions of the work situation. Today's employees are more responsible for their own career development and cannot rely on organizations to provide lifelong employment and career growth. The changing nature of jobs and tasks and environment forced employees to update their knowledge and skills regularly to be more relevant and matching to the organization need. Career development is dependent on various determinants. The individual factors of employees such as gender, age, position (Forret & Dougherty, 2004), education, skills, career ambitions, adoption to change and mobility ambition, are the major influencers in career development. Some individuals are more likely to be able to move to other jobs. Reflecting on one's desires and