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 AJIBM  Vol.8 No.9 , September 2018
Conceptual Model Fit for Career Planning and Development of Employees with Special Reference to Private Sector Banks by Using Structural Equation Model
Abstract: Powerful career planning of employees is reliant on viable execution administration, where administration considers correspondence and reconciliation as a wellspring of keeping employees relentlessly on their approach to objectives accomplishment. The focal point of this investigation, hence, was to survey whether there was career planning and development has its impact on worker inspiration, having a tendency to lose its performing employees work fulfillment and devotion. The present research is a survey on limited scale. It is on the other a descriptive-cum-analytical effort on the selected variables of the study. It is studied how and to what extent the independent variables make changes in the dependent variables. The researcher collected the data from 1000 employees and the sample size is adjusted and determined as 860 respondents to obtain more and clear information. The survey concludes that findings confirm that the model fit is absolutely suitable for this analysis.

1. Introduction

Employees are the profitable resources of the firm and they cannot be squandered futile and they ought not to be left without anyone else purposefully. Each employee in the firm or association is not all around outfitted with a wide range of qualities and capacities of completing each errand up to stamp. Letting them to manage on for each endeavor is to put their work being referred to which is harming and ruthless for the employees himself and in addition for the earth in which they work [1] . Some new or junior employees who are slightest mindful of the procedures of playing out their activity and settling themselves in their workplace, they require care, bolster and legitimate arranging toward the beginning of their profession to give solid sustenance to their on-going employment [2] . Each employees ought to be made mindful of significance of their reality among any group or gathering of the firm and if, their acknowledgment of such sense does not way to deal with the administration at that point level of their aptitudes and capacities can’t be enhanced through legitimate administration reaction. The better a firm can render to its workers is the earth of learning, participation among individuals, conferred supervision, convenient satisfying preparing needs, employer stability, gratefulness on better exhibitions and proficient and compelling making arrangements for their vocation. Employees profession arranging goes about as a device of reinforcing the work connection amongst boss and worker showing the productive sensation for every one of the levels and gatherings of employees. It likewise guarantees the employability of a worker when they are reliably learning and applying educated and more created aptitudes [3] .

Powerful career planning of employees is reliant on viable execution administration, where administration considers correspondence and reconciliation as a wellspring of keeping employees relentlessly on their approach to objectives accomplishment. The intercession of genuine administration bolster in the employees’ normal exercises raises their bravery and shines their capacities to bring down the boundaries in the route to their career and hierarchical achievement [4] . Consequently, they guide their endeavors to approach and accomplish the objectives. In result of meeting the characterized targets they can pick up gratefulness and significance according to administration and, administration attempts to draw out their stay with them through better planning and suggestions for their career. Same thought is reflected [5] [6] . Some HR supervisors acknowledge and comprehend the significance of career planning exceptionally for people who perform uncommon.

Although the business environment has been endlessly experiencing negative changes such as economic downsizing and restructuring resulting in fewer hierarchical positions but at the same time the need for improving productivity while keeping a pace with continuously changing technology has also increased. Organizations, therefore, instead of hiring a new individual from the market prefer to promote their already existing employee to a specific position as he or she is already aware of the organizational culture and does not need to be trained. This requires a careful succession planning of employees and developing and preparing them continuously for filling topmost designations in future.

The process of organizational career development is important for both employees and employers. There may be several unintended and undesired changes as well as consequences that can change the entire scenario. In such a situation both employees and employers must be ready to keep with the changing environment and act accordingly. Employees continuously need to upgrade their skills and competencies to meet the current demands whereas organizations must be ready with those employees who can handle the pressure efficiently and cease the risk of falling prey to the changed scenario. Therefore, understanding the importance of career development is very necessary for both the parties.

2. Review of Related Studies

Training is very important for employee’s performance in acquiring competencies and help organization to retain its employees through satisfaction and motivation. Globally day by day the world is modernizing and moving rapidly which is creating many challenges for the organizations. Training can overcome and make an employee’s capabilities more efficient which also contributes in the efficiency of the company. Training becomes an essential element to an employee for the development of the companies because some of the employees have lack of knowledge skills and competencies and failed to accomplish task on timely basis. The sample has been taken from both males and female employees of National Bank of Pakistan. The research is descriptive study and it’s quantitative in nature. Primary data was collected and although secondary data also used to classify the work done. Study provides an empirical evidence of factors that effects employees training and performance of organization [7] .

In order to improve the efficiency of employee in the present job and prepare himself for the higher level job, the effective training programmes are necessary. It is also needed to banking policies, new technology and the changing environments. Training and development is now considered as more of retention tool than a cost. The training system in banking industry has been changed to create a smarter workforce and yield the best results. Training and development programmes help remove performance deficiencies in employees and also they are esteemed resource of the bank and success or failure of the bank operation relay on the performance of employees. Timely evaluation of the success of employees’ training and development programmes are most important for the banks [8] .

The result of this research have shown that the factors of “Training have positive impact on employee performance of Banks of Karachi. Despite of that, this research has provided precious information and knowledge to banks about the importance of training in increasing employee performance. As a result, it can be conclude that the banks which provide training to their employees in a proper way can gain substantial improvement in performance and productivity and can deal more number of customers with satisfaction. Training is compulsory for employees to enhance knowledge, skills and abilities that provide extensive support to increase the performance of banks of Karachi” [9] .

HRM in banks that it is the people, people and people that make an organization achieve competitive advantage in this tough and competitive world In the present competitive world, the banking sector, especially of the developing economies like India, is facing lot of tough competition, talent crunch, and skill shortage. All these have made the banks feel that the internal customer is also more important equally with external customers, so every bank is trying to devise innovative HR practices to attract best talent and give them comfortable environment to work with, that enables the banks to retain talents [10] .

It is presumed that there is no difference in the HR practices being followed by private sector and public sector banks. The analysis reveals in contrary to the hypothesis that two groups of respondents belonging to different sectors differ in their HR practices. On general observation also it is evidentially clear from the observations of work environment in different banks [11] .

It was helps to this conclusion as “Human resources are the main component of any organization or it can be said that they are the backbone of the organization without which accomplishment of objectives is rarely possible. Better training programs, proper compensation schemes, evaluation of employee performance are the important element of HR practices which are to be focused by the organization to satisfy its employees and customers. HR practices like compensation management, performance appraisal and promotion influence the performance level of employees. The results have revealed that as banking is an emerging sector necessary changes are required to be made. Better HR policies will enhance the employee to perform better” [12] .

The study recommends that KPS should improve on the existing and incorporate other on-the-job training methods as they were found to have great impact on performance of KPS. This could be done by reviewing the influence each approach had on performance. The study also recommends that combating crime be a joint effort by all the stakeholders. On-the-job training was found to have a positive but insignificant effect on performance of the Kenya Police Service. Future researchers should focus on other factors affecting performance of police officers in the KPS such as motivation and level of education of police officers among others [13] .

The HDFC Bank focuses on training of its employees on a continuous basis, both on the job and through training programmes conducted by internal and external faculty. The Bank has consistently believed that broader employee ownership of its share has a positive impact on its performance and employee motivation. Prioritizing seniority over performance is not a good practice for attracting the best talent in a competitive environment. However, recruitment practices as well as on-the job training and redeployment are considered as one of those many improvements of HR in the Indian banks. In nutshell, it can be said that T & D policies and practices of the selected bank in the above background concentrated on training and developing, and motivating employees to work for ensuring that these policies are properly designed and implemented, thereby helping the workers to set and achieve individual and organizational goals [14] .

Authoritative level objectives accomplishment depends on proficient and fulfilled workforce. Employees who are fulfilled, they have a tendency to perform productively and adequately as they understand the significance of solid information they surrender to achieving their assignments. It therefore can bring gratefulness and reward for them. They will at last be propelled through it and they will work with more industriousness and duty [15] , additionally featured this sense and they contend that most association concentrate just on their objectives accomplishment yet they think less about the methods through which their accomplishment is being conceived (e.g. employees). Employee career planning and development are the devices, which can form the futile employees into valuable shape for any organization. It shows that employee career planning is particularly vital and must be rehearsed on proficient premise by each workplace.

In the later talk we might want examine the significance of career planning for the basic places of any working environment. Progression planning through keeping an eye over the need of that position and making accessibility of that before the occupant takes the charge. It won’t just keep up their energy of past execution however it will urge them to build up their own particular aptitudes as well as to exchange them to their youngsters [16] .

This review brings forth various findings relating to career development and its effects on job performance of the employees in various organizations. Career planning and development practices among the organizations are studied so as to understand the complexities involved in undertaking the job and performing effectively. It is observed that the researchers have come across certain factors such as employee motivation, commitment and job satisfaction that differs based on the efficacious policies of career planning. The researchers have individually studied the various determinants of the career planning and development and its effect on job performance. Though the reviews are discussing the career development and planning activities and job satisfaction of the employees, there were only few reviews of their impact on job performance and loyalty. No studies were identified with the implications of the career planning and development and motivation over job performance of the employees. The present paper was quite helpful to identify the gap and it provides an insight to carry out the research in the right perspective. Therefore, the study attempts to fulfil the identified gap with the factors ascertained from the reviews.

3. Statement of the Problem

Over the span of the regularly evolving condition, the associations are always enhancing themselves through business process reengineering to take care of the demand of the labour intensive workplace. With respect to outcomes of the employees in the association, they need to deal with their career objectives for advancement and acknowledgment of the authoritative structures. The associations must be cautious in dealing with the career of its employees to hold and keep high performing employees fulfilled. A confuse between the people’s career goals and associations career development practices will prompt low worker responsibility and employment fulfillment. This will expand the turnover rate. Inability to distinguish the worker gifts, capacities, values, needs, mentalities and objectives with respect to their career will push them far from the association. Moreover, the preventions to career development are not known and the answers for these impediments are not known either. On the off chance that this issue proceeds and inspiration gets truly influenced, the execution of the employees is probably going to diminish and this could genuinely influence the accomplishment of the objectives and goals of the Managing an account associations. Besides, it may not be faultless for the bank to keep spending a lot of cash on preparing, which may not prompt career development and enhanced hierarchical execution. The focal point of this investigation, hence, was to survey whether there was career planning and development has its impact on worker inspiration, having a tendency to lose its performing employees work fulfillment and devotion.

4. Objectives of the Study

Following are the objectives of the study:

1) To find out the inter relationship between organizational commitment of the employees and career development system of the organization;

2) To analyze the effects of career planning and development and its influence over job satisfaction and employee loyalty.

5. Proposed Research Model

The research takes the socio demographic factors of the employees in the selected private sector banks. Employee’ opinion towards motivation in the private sector banks, Organizational commitment of the employees, Employees’ opinion towards career planning and development and Performance of the employees are taken as the major independent variables and Satisfaction of the employees towards career planning and development and Employee loyaltyare taken as the dependent variables. It is studied how and to what extent the independent variables make changes in the dependent variables. The proposed conceptual research model (Figure 1) shows the process of research as follows.

6. Research Methodology

The present research is a survey on limited scale. It is on the other a descriptive-cum-analytical effort on the selected variables of the study.

6.1. Method of Data Collection

Primary and Secondary data have been used in research study. Primary data have been collected, especially to answer research questions related to the research variables. The primary data were collected by using a questionnaire consisting of closed ended and open-ended questions. Secondary data were formerly collected from journals, websites and magazines.

Figure 1. Proposed conceptual research model.

6.2. Population and Sampling Procedure

The private sector banks considered for the study include ICICI, HDFC, AXIS, and KVB Banks. 30 branches all over the district of Thanjavur were included for the study. The population of the employees from the selected branches accounts to 6152 who are in service from 2014; Table 1 shows the total population of the employees and the sample considered for the study. Form the finite population of 6152 employees working under different cadres in the selected branches of the selected Private Sector Banks in Thanjavur district, the study includes a sample of 1000 employees as respondents. The sample is obtained with the help of purposive sampling based on the condition that the employees of the selected four private sector banks are considered purposively. Since the population is finite, sample size provides proportionately more information for a small population. Therefore, the sample size is corrected with the equation

n = n 0 1 + ( n 0 1 ) / N

N is the population (N = 6150) and n is the sample size considered (n = 800). But the researcher collected the data from 1000 employees and the sample size is adjusted and determined as 860 respondents to obtain more and clear information.

The sample size of the respondents was corrected to 860 for a better precision. The questionnaires were distributed in person by the researcher to the sample employees. The response rate on the questionnaire was 86%.

7. Reliability and Validity of Data

As the Cronbach’s alpha of six parameters (Employee’ opinion towards motivation in the private sector banks, Organizational commitment of the employees, Employees’ opinion towards career planning and development, Performance of the employees, Satisfaction of the employees towards career planning and development and Employee loyalty) reveal 0.700 and more than 0.700 as alpha.

Table 1. Sample size across the study units.

Source: researcher’s own calculations.

Therefore, it is confirmed that the data are highly reliable and valid for analysis. The following (Table 2) shows that, the Cronbach’s alpha value for every dimension of career planning and development of employees with special reference to private sector banks in Thanjavur district.

8. Limitations of the Study

The following are the limitations of the study:

1) The study is conducted in selected Taluks of the Thanjavur district due to time constraints.

2) The study limits with only the employees of the selected banks for its analysis.

3) Findings of the study may vary due to the future environmental changes.

4) The survey questions were not clearly interpreted by the respondents and the answers were the personal opinion of the respondents. Hence t it may not be generalized.

9. Conceptual Model Fit for Career Planning and Development of Employees with Special Reference to Private Sector Banks by Using Structural Equation Model

Structural Equation Modelling (SEM), is a very general, chiefly linear, chiefly cross-sectional statistical modelling technique. Factor analysis, path analysis and regression all represent special cases of SEM. SEM is a largely confirmatory, rather than exploratory, technique. That is, a researcher are more likely to use SEM to determine whether a certain model is valid, rather than using SEM to find a suitable model―although SEM analyses often involve a certain exploratory element. In SEM, interest usually focuses on latent constructs-abstract psychological variables like “intelligence” or “attitude toward the brand”―rather than on the manifest variables used to measure these constructs. Measurement is recognized as difficult and error-prone. By explicitly modelling measurement error, SEM users seek to derive unbiased estimates for the relations between latent constructs. To this end, SEM allows multiple measures to be associated with

Table 2. Reliability and validity of the data.

Source: output generated from SPSS 20.

a single latent construct. A structural equation model implies a structure of the covariance matrix of the measures. Hence an alternative name for this field, "analysis of covariance structures. Once the model’s parameters have been estimated, the resulting model-implied covariance matrix can then be compared to an empirical or data-based covariance matrix. If the two matrices are consistent with one another, then the structural equation model can be considered a plausible explanation for relations between the measures. Table 3 shows the variables used in the research. Figure 2 and Figure 3 show the unstandardized and standardized estimate for Structural Equation Model of the career planning and development of employees with special reference to private sector banks.

The variables used in the structural equation model are:

Observed, endogenous variables

1) Employee’ opinion towards motivation in the private sector banks;

2) Organizational commitment of the employees;

3) Employees’ opinion towards career planning and development;

4) Performance of the employees;

5) Satisfaction of the employees towards career planning and development;

6) Employee loyalty.

Observed, exogenous variables

1) Gender of the employee;

2) Age of the employee;

3) Marital Status of the employee;

4) Educational qualification of the employee;

5) Experience of the employee;

6) Annual Income of the employee;

7) Department of the employee;

8) Basis of the employment.

Unobserved, exogenous variables

1) Error 1 for Employee’ opinion towards motivation in the private sector banks;

Table 3. Summary of the variables used for the analysis.

Source: output generated from Amos 20.

Figure 2. Unstandardized estimate for structural equation model of the career planning and development of employees with special reference to private sector banks.

Figure 3. Standardized estimate for structural equation model of the career planning and development of employees with special reference to private sector banks.

2) Error 2 for Organizational commitment of the employees;

3) Error 3 for Employees’ opinion towards career planning and development;

4) Error 4 for Performance of the employees;

5) Error 5 for Satisfaction of the employees towards career planning and development;

6) Error 6 for Employee loyalty.

At the point when gender of the employee goes up by 1, employee’ conclusion towards motivation in the private segment banks goes around 0.541. At the point when gender of the employee goes up by 1 standard deviation, employee' supposition towards motivation in the private area banks goes around 0.028 standard deviations. The regression weight appraise, −0.899, has a standard blunder of around 0.323. The likelihood of getting a critical ratio is as substantial as 0.817 in total esteem seems to be 0.414 (Table 4).

At the point when age of the employee goes up by 1, employee’ supposition towards motivation in the private division banks goes around 0.899. At the point when age of the employee goes up by 1 standard deviation, employee’ feeling towards motivation in the private segment banks goes around 0.093 standard deviations. The regression weight assess, −0.899, has a standard blunder of around 0.323. The likelihood of getting a critical ratio is as extensive as 2.781 in outright esteem may be 0.005. As it were, the regression weight for age of the employee in the forecast of employee’ sentiment towards motivation in the private segment banks is altogether not quite the same as zero at the 0.01 level (two-Tailed) (Table 4).

At the point when marital status of the employee goes up by 1, employee’ conclusion towards motivation in the private area banks goes up by 2.127. At the point when marital status of the employee goes up by 1 standard deviation, employee’ supposition towards motivation in the private segment banks goes up by 0.104 standard deviations. The regression weight gauge, 2.127, has a standard mistake of around 0.702. The likelihood of getting a critical ratio as expansive is as 3.028 in total the esteem seems to be 0.002 (Table 4).

At the point when educational qualification of the employees goes up by 1, employee’ supposition towards motivation in the private segment banks goes around 1.86. At the point when educational qualification of the employees goes up by 1 standard deviation, employee’ supposition towards motivation in the private part banks goes around 0.138 standard deviations. The regression weight gauge, −1.860, has a standard mistake of around 0.452. The likelihood of getting a critical ratio as huge as 4.118 in outright esteem is under 0.001. As such, the regression weight for educational qualification of the employees in the expectation of employee’ feeling towards motivation in the private division banks is altogether unique in relation to zero at the 0.001 level (two-Tailed) (Table 4).

At the point when experience of the employees goes up by 1, employee’ conclusion towards motivation in the private part banks goes around 0.745. At the point when experience of the employees goes up by 1 standard deviation, employee’ conclusion towards motivation in the private segment banks goes around 0.087 standard deviations. The regression weight gauge, −0.745, has a standard error of around 0.291. The likelihood of getting a critical ratio is as substantial as 2.563 in outright esteem may be 0.010 (Table 4).

At the point when annual income of the employees goes up by 1, employee’ feeling towards inspiration in the private part banks goes up by 0.058. At the point when annual income of the employees goes up by 1 standard deviation, employee’ assessment towards inspiration in the private area banks goes up by

Table 4. Regression weights for structural equation model for the career planning and development of employees with special reference to private sector banks.

Source: output generated from Amos 20.

0.005 standard deviations. The relapse weight appraise, 0.058, has a standard blunder of around 0.380. The likelihood of getting a basic proportion is as expansive as 0.152 in outright esteem seems to be 0.879 (Table 4).

At the point when department of the employees goes up by 1, employee’ conclusion towards inspiration in the private area banks goes up by 0.92. At the point when department of the employees goes up by 1 standard deviation, employee’ feeling towards inspiration in the private division banks goes up by 0.064 standard deviations. The relapse weight gauge, 0.920, has a standard error of around 0.493. The likelihood of getting a basic proportion is as huge as 1.866 in total esteem seems to be 0.062 (Table 4).

At the point when basis of the employment goes up by 1, employee’ conclusion towards inspiration in the private segment banks goes around 0.134. At the point when basis of the employment goes up by 1 standard deviation, employee’ supposition towards inspiration in the private division banks goes around 0.011 standard deviations. The relapse weight evaluate, −0.134, has a standard error of around 0.417. The likelihood of getting a basic proportion as is expansive as 0.323 in outright esteem seems to be 0.747. As it were, the relapse weight for basis of the employment in the forecast of employee’ conclusion towards inspiration in the private division banks is not essentially unique in relation to zero at the 0.05 level (two-Tailed) (Table 4).

At the point when gender of the employee goes up by 1, organizational commitment of the employees goes up by 0.419. At the point when gender of the employee goes up by 1 standard deviation, organizational commitment of the employees goes up by 0.026 standard deviations. The relapse weight assess, 0.419, has a standard error of around 0.561 (Table 4).

At the point when age of the employee goes up by 1, organizational commitment of the employees goes up by 0.493. At the point when age of the employee goes up by 1 standard deviation, organizational commitment of the employees goes up by 0.061 standard deviations. The relapse weight appraise, 0.493, has a standard error of around 0.274. The likelihood of getting a basic proportion is as vast as 1.803 in supreme esteem seems to be 0.071 (Table 4).

At the point when marital status of the employee goes up by 1, organizational commitment of the employees goes around 0.07. At the point when marital status of the employee goes up by 1 standard deviation, organizational commitment of the employees goes around 0.004 standard deviations. The relapse weight gauge, −0.070, has a standard error of around 0.594.

At the point when educational capability of the employees goes up by 1, organizational commitment of the employees goes around 0.239. At the point when educational capability of the employees goes up by 1 standard deviation, organizational commitment of the employees goes around 0.021 standard deviations. The relapse weight appraise, −0.239, has a standard error of around 0.382. The likelihood of getting a basic proportion is as vast as 0.625 in outright esteem may be 0.532 (Table 4).

At the point when experience of the employees goes up by 1, organizational commitment of the employees goes up by 0.241. At the point when experience of the employees goes up by 1 standard deviation, organizational commitment of the employees goes up by 0.033 standard deviations. The regression weight estimate, 0.241, has a standard error of around 0.246. The likelihood of getting a critical ratio is as huge as 0.978 in supreme esteem seems to be 0.328. At the end of the day, the regression weight for experience of the employees in the forecast of organizational commitment of the employees is not fundamentally quite the same as zero at the 0.05 level (two-Tailed) (Table 4).

At the point when annual income of the employees goes up by 1, organizational commitment of the employees goes around 0.439. At the point when annual income of the employees goes up by 1 standard deviation, organizational commitment of the employees goes around 0.046 standard deviations. The regression weight estimate, −0.439, has a standard error of around 0.321. The likelihood of getting a critical ratio is as substantial as 1.365 in outright esteem seems to be 0.172 (Table 4).

At the point when department of the employees goes up by 1, organizational commitment of the employees goes up by 1.746. At the point when department of the employees goes up by 1 standard deviation, organizational commitment of the employees goes up by 0.145 standard deviations. The regression weight estimate, 1.746, has a standard error of around 0.417. The likelihood of getting a critical ratio as substantial as 4.187 in total esteem is under 0.001. As it were, the regression weight for department of the employees in the forecast of organizational commitment of the employees is essentially not quite the same as zero at the 0.001 level (two-Tailed) (Table 4).

When basis of the employment goes up by 1, organizational commitment of the employees goes down by 0.416. When basis of the employment goes up by 1 standard deviation, organizational commitment of the employees goes down by 0.04 standard deviations. The regression weight estimate, −0.416, has a standard error of about 0.353. The probability of getting a critical ratio as large as 1.18 in absolute value is 0.238 (Table 4).

Whenever employee’ sentiment towards motivation in the private division banks goes up by 1, employees conclusion towards career planning and development goes up by 0.037. Whenever employee’ assessment towards motivation in the private division banks goes up by 1 standard deviation, employees feeling towards career planning and development goes up by 0.03 standard deviations. The regression weight gauge, 0.037, has a standard mistake of around 0.043. The likelihood of getting a critical ratio is as huge as 0.87 in total esteem seems to be 0.384. As such, the regression weight for employee’ sentiment towards motivation in the private area banks in the expectation of employees feeling towards career planning and development isn’t essentially not the same as zero at the 0.05 level (two-Tailed) (Table 4).

When organizational commitment of the employees goes up by 1, performance of the employees goes up by 0.006. When organizational commitment of the employees goes up by 1 standard deviation, performance of the employees goes up by 0.007 standard deviations. The regression weight estimate, 0.006, has a standard error of about 0.030. Here the coefficient of organizational commitment of the employees is 0.006 represents the partial effect of organizational commitment of the employees on performance of the employees, holding the other variables as constant. The estimated positive sign implies that such effect is positive that performance of the employees would increase by 0.006 for every unit increase organizational commitment of the employees and this coefficient value is significant at 5% level (Table 4).

When employee’ opinion towards motivation in the private sector banks goes up by 1, performance of the employees goes down by 0.027. When employee’ opinion towards motivation in the private sector banks goes up by 1 standard deviation, performance of the employees goes down by 0.037 standard deviations. The regression weight estimate, −0.027, has a standard error of about 0.025. Here the coefficient of employee’ opinion towards motivation in the private sector banks is 0.027 represents the partial effect of employee’ opinion towards motivation in the private sector banks on performance of the employees, holding the other variables as constant. The estimated negative sign implies that such effect is negative that performance of the employees would decrease by 0.027 for every unit increase employee’ opinion towards motivation in the private sector banks and this coefficient value is significant at 5% level (Table 4).

When organizational commitment of the employees goes up by 1, employees’ opinion towards career planning and development goes up by 0.144. When organizational commitment of the employees goes up by 1 standard deviation, employees’ opinion towards career planning and development goes up by 0.096 standard deviations. The regression weight estimate, 0.144, has a standard error of about 0.051. Here the coefficient of organizational commitment of the employees is 0.144 represents the partial effect of organizational commitment of the employees on employees’ opinion towards career planning and development, holding the other variables as constant. The estimated positive sign implies that such effect is positive that employees’ opinion towards career planning and development would increase by 0.144 for every unit increase organizational commitment of the employees and this coefficient value is significant at 1% level (Table 4).

When employees’ opinion towards career planning and development goes up by 1, satisfaction of the employees towards career planning and development goes up by 0.017. When employees’ opinion towards career planning and development goes up by 1 standard deviation, satisfaction of the employees towards career planning and development goes up by 0.027 standard deviations. The regression weight estimate, 0.017, has a standard error of about 0.021. The probability of getting a critical ratio is as large as 0.812 in absolute value is 0.417. Here the coefficient of employees’ opinion towards career planning and development is 0.017 represents the partial effect of employees’ opinion towards career planning and development on satisfaction of the employees towards career planning and development, holding the other variables as constant. The estimated positive sign implies that such effect is positive that satisfaction of the employees towards career planning and development would increase by 0.017 for every unit increase employees’ opinion towards career planning and development and this coefficient value is significant at 5% level (Table 4).

When performance of the employees goes up by 1, satisfaction of the employees towards career planning and development goes up by 0.166. When performance of the employees goes up by 1 standard deviation, satisfaction of the employees towards career planning and development goes up by 0.157 standard deviations. The regression weight estimate, 0.166, has a standard error of about 0.036. The probability of getting a critical ratio as large as 4.659 in absolute value is less than 0.001. Here the coefficient of performance of the employees is 0.166 represents the partial effect of performance of the employees on satisfaction of the employees towards career planning and development, holding the other variables as constant. The estimated positive sign implies that such effect is positive that satisfaction of the employees towards career planning and development would increase by 0.166 for every unit increase performance of the employees and this coefficient value is significant at 1% level (Table 4).

When satisfaction of the employees towards career planning and development goes up by 1, loyalty of the employees goes up by 0.063. When satisfaction of the employees towards career planning and development goes up by 1 standard deviation, loyalty of the employees goes up by 0.077 standard deviations. The regression weight estimate, 0.063, has a standard error of about 0.028. Here the coefficient of satisfaction of the employees towards career planning and development is 0.063 represents the partial effect of satisfaction of the employees towards career planning and development on loyalty of the employees, holding the other variables as constant. The estimated positive sign implies that such effect is positive thatloyalty of the employees would increase by 0.063 for every unit increase satisfaction of the employees towards career planning and development and this coefficient value is significant at 5% level (Table 4).

From Table 5 it is found that the calculated p value is 0.126, which is greater than 0.05 which indicates the model is fit. And also CMIN/DF value is 1.265 which is less than 5 which indicates the model is fit. Here GFI (Goodness of Fit Index) value and AGFI (Adjusted Goodness of Fit Index) value is greater than 0.9 which represent it is a good fit. The calculated CFI (Comparative Fit Index) value is 0.954, which means that it is a perfectly fit and also it is found that RMR (Root Mean Square Residuals) value is 0.654 and RMSEA (Root Mean Square Error of Approximation) value is 0.018 which is less than 0.10 which indicated it is perfectly fit.

10. Managers Opinion towards Career Planning and Development

Building up a course of events with career objectives and expected points of reference is additionally a powerful method to deal with your career. Bringing your

Table 5. Model fit summary for the career planning and development of employees with special reference to private sector banks in Tamilnadu.

Source: output generated from Amos 20.

supervisor and his or her sponsorship and tutoring into the photo will guarantee that you have an inside guide who will enable you to deal with your career. A few organizations have formal projects to enable employees to build up their careers. In others, you should casually seek after your career development. Organizations with programs for the most part concentrate vitality on helping employees create and take after a career way. The career way is talked about at a few gatherings bi-every year with the employee’s supervisor. Career ways are suggested for a similar reason that objectives are prescribed. They are the composed arrangement that can enable every employee to assume responsibility of what is most essential to his or her satisfaction and achievement. Without an arrangement, you can feel rudderless and you have no benchmark against which you can quantify your advancement.

11. Conclusion

The survey concludes that the partial effect of employees’ opinion towards career planning and development on satisfaction of the employees towards career planning and development, holds the other variables as constant. The estimated positive sign implies that such effect is positive that satisfaction of the employees towards career planning and development would increase for every unit increase about employee’s opinion towards career planning and development and this is significant. In addition, the findings confirm that the model fit is absolutely suitable for this analysis.

Cite this paper: Kumar, V. , Manonmani, A. and Kumar, V. (2018) Conceptual Model Fit for Career Planning and Development of Employees with Special Reference to Private Sector Banks by Using Structural Equation Model. American Journal of Industrial and Business Management, 8, 1972-1990. doi: 10.4236/ajibm.2018.89132.
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