Quarter Life Crisis effect of Career Self efficacy and Career Anchors on career satisfaction

Abstract

Our career landscape is in the state of an unprecedented change. The new career contract is with one self and not with the organization, it is newlineessential to develop competencies needed to navigate a career and a life of fulfillment and balance. Severe underemployment exists in today s economy. College graduates are physically and mentally newlinecapable of performing many jobs, but lack the 1-2 years of experience required to get hired and consequently end up doing simple tedious boring jobs for which they are overqualified. Organizations in future will be flatter and more decentralized. In today s scenario, an employee with 2 to 3 years of work experience become mangers, career growth is much faster. However, opportunities for advancement in terms of moving up the hierarchical ladder within organizations are becoming scarce. In flatter organizations, many intermediate layers of management have been eliminated and more control is placed in the hands of frontline employees. With fewer mid-level management positions around, fewer opportunities exist for people to move up the traditional career ladder. xii Many a time, employees take up a job for a career survival or life survival and therefore land up in jobs which are not of their interest and hence, monotony creeps in at a very early stage of one s career and employees start facing an early life career crisis. The study presents an overview of career decision self efficacy and career anchors which leads to career satisfaction. This is done for employees in the early stage of their career or during the quarter phase of their career. The detailed review of literature undertaken by this study begins by analyzing the Career Management in the global and Indian environment scenario in the quarter life stage.