Significance Of Career Management In Wealth Creation

Purchasing money wisely is critical. Financial discipline and Expense control put money in your own hands. But your career is the largest contributor of cash. Career Management and Wealth management go hand in hand. It’s this which lets you make investments. So managing your career and developing it is by far the most important aspect if you plan on increasing your wealth. Again these are for men and women that are beginning their careers and from the perspective of long term wealth management. I am not touching on the principles of HRM but putting down a few random ideas for improving your career and lifestyle in general.The article is unique for subscribers from India although most of the notions expressed are worldwide. Distributor pt nasa

a. Appraisals

Prepare early. Info is the key. Maintain a tab of your key result areas [KRAs] and examine monthly. It is a great idea to pin it up somewhere so you can view it. Your boss isn’t likely to recall conversations or verbal confirmations. If any deviation is taking place remember to maintain a document by shooting off an email. A debate is the very last thing you need at the time of that appraisal meeting. If your KRAs for this financial year are being fixed or are already repaired please go through them in detail. Check if your performance is conditional on something. If so, get it included or send a note in writing pointing this out.

B. Improve yourself -Learn new things

Attempt to read up on your area of expertise. There are many online courses on offer now. Take up something which will add value to what you’re doing. If you improve your knowledge soon you will have people around you asking for your view. Become the local expert, it can do you a lot of good on your career development.

C. Job Hopping versus growing roots

It is also a choice that ought to never be deferred if it is needed. The last thing you need is a frog in the gastrointestinal tract. If you are good at what you are doing, then there are companies out there searching for people just like you. If you’re unhappy with the company you are working in and if your contribution isn’t being recognized go ahead and quit. If you are a disgruntled employee it will show on your job output and mindset. It turns into a vicious cycle and you end up doing injustice to yourself and your employer. Sticking with an employer is perfect if your move the corporate ladder is ensured.

Reasons for job jumping can be numerous, the most common being higher pay. Do not hop jobs for frivolous reasons like a better designation or even more take home pay. Do some analysis and ask around before you jump. See expansion prospects, training and how the business views promotion from within for senior posts.If your current organization gives you ample opportunity to grow and learn varied skills it’s much better to stay with the organization. Ask yourself if you are doing exactly the identical job you were doing for the past several years, if the answer is yes then it might be time for you to stop and look for opportunities to widen your skill set. Hard work is recommended but do not sacrifice yourself at the corporate altar. Look after your health.

d. Office Politics

What goes around comes around. I guess at a very competitive the ubiquitous knife at the back is the most feared weapon. It’s ideal to concentrate on your job and give results. If you get into office politics, soon a smarter guy will come around and you might end up being the victim. If you keep outside you’ll be ignored and you’ve got more time to show your mettle on the job. If you are the goal, unwind, losing your cool is only likely to make the situation worse. Take it in your stride and speak it out, resolve it. If you are to blame, an apology may do wonders. Do not meddle in fights of feuding colleagues. Do not take sides. Let them resolve it themselves.

E. Share Awareness

Maintaining knowledge to yourself will not make you a much better individual. If you feel that the best plan is to become indispensable then you’re in for a big surprise. Nobody is crucial. Period. If you are a division or a project head ask yourself – if I depart tomorrow, will things operate smoothly? If the answer is yes, then you are really successful. It shows you have put systems in place and you also run your division/project well. If on the other hand you think there will be chaos then you are holding things too near your torso. The ideal way to learn is to teach others what you understand.

f. Time Management

Gadgets, office gossip, social media, Internet, blogging, writing columns are all time killers. Keep these from eating your time away at work. Keep your workplace life and social life different. You will find that you’re ready to finish your work early. It’s true that you should have some pleasure in office but be aware of the time that you invest on it. Think twice before you dedicate a deadline for a job. Give notice beforehand if there’s a delay. If there’s a problem, nip it in the bud; go to your boss with a solution. Just a little bit of honesty can save yourself time and energy for all concerned. Do not think that the issue will get solved by itself.

Your career is the fountain of your own wealth. Manage it sensibly. There are many more variables that go into making a successful and satisfying career. If you have any pointers, please feel free to contribute.

The writer functions as the Nation Head for AGEM India Branch, the overseas branch office of the Euro 32 Million Spanish firm AGEM S.A.. He is in charge of their Indian operations and primarily engaged in sourcing of goods from India. He is also Consultant, International Business Development for QualiMed Systems, a quick upcoming medical equipment start-up. His curiosity about investment began when his father introduced him to the stock markets in the early nineties from the pre-Harshad Mehta era. In addition, he writes for the investment pillar”Money Matters”.

Leave a Reply