Effective HRM encompasses career planning, career development and succession planning. An organization without career planning and career development initiatives is likely to encounter the highest rate of attrition, causing much harm to their plans and programmers. Similarly without succession planning managing of vacancies, particularly at higher levels, become difficult. There are examples of many organizations that had to suffer for not being able to find a right successor for their key positions. With the increase scope for job mobility and corporate race for global headhunting of good performers, it is now a well-established fact that normal employment span for key performers remains awfully short.
The term career planning and career developments are used interchangeably in most of the organizations. It is also correct that but for their subtle difference in the definition context, their process remains the same.