What is career planning? Discuss its needs, purpose and objectives.

Career planning refers to the process of individuals planning and managing their career paths in alignment with their skills, interests, and goals, while also taking into consideration organizational needs. It involves setting career objectives, identifying potential career options, and continuously developing the necessary skills to achieve those goals. Career planning is a dynamic and ongoing process that helps individuals make informed decisions about their careers, both in terms of personal development and organizational growth.

In the context of Human Resource Management (HRM) and Industrial Relations in Micro, Small, and Medium Enterprises (MSMEs), career planning plays a significant role in both individual and organizational development. In MSMEs, where resources are often limited and the workforce may not be as large as in larger organizations, career planning can serve as a tool to ensure employee retention, motivation, and skill development.

Needs of Career Planning in MSMEs

1. Employee Retention: MSMEs often face challenges in retaining talent due to limited growth opportunities. Career planning allows employees to see a potential future within the organization, which can help reduce turnover rates. By offering clear career paths, ___ __________ ________ _________ _____ ____ ____ _______ _________.
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