Career Planning Tips That Get Powerful Results
If creating a 5-year career development plan is on your mind, you have come to the right place. Thus, long-term career planning is today’s topic.
First, I will review how to create a 5-year career plan in 5 easy steps. Then I will go through a career development plan example that brings it all together.
Enough of an introduction. Let’s get moving because your future financial success depends on it!
How To Create A 5 Year Career Development Plan
Here are the steps required to advance in your chosen profession.
- Create a vision of the future
- Take stock of your current state
- Plot out interim steps
- Set relevant goals
- Put your plan into writing
Okay. With those steps in mind, please let me define today’s topic further.
What Is A 5-Year Career Development Plan?
A career plan identifies the necessary activities and skills to achieve your career objectives. Thus, the result is intensely individual and personal. Furthermore, a well-designed program facilitates your unique personal growth, advancement, and professional development needs. Finally, combine planning with decisive action, and you are on your way to success.
With those highlights addressed, let’s dive into the details.
Disclosure: At no cost to you, I may get commissions for purchases made through links in this post.
Creating A 5 Year Career Development Plan In 5 Easy Steps
Next, please let me describe each step required to create your 5-year plan.
1. Create A Vision Of The Future
I’m a firm believer in the following phrase. “If you can envision it, you can achieve it.”
So, I what you to think about five years from now. The objective is to determine precisely where you would like to be.
Here are some tips on how to go about it.
Answer Questions About Where You Want Your Career Path To Lead
First, reflect on the following questions about career progress in 5 years.
- Where do I work?
- Who is my employer?
- Am I self-employed?
- Do I want to run a small business?
- What are my responsibilities?
- What is my title?
- How much money do I make?
Most importantly, think big. Do not be held back by limiting thoughts or beliefs.
The answers to these questions become your 5-year career objectives. They are the foundation for your career vision.
To help develop your responses consider the following two points.
Grow And Nurture Your Professional Network
Sometimes it is hard to see years into the future. So, I encourage you to network with other professionals that have experience with what you want to accomplish.
Look within your current company and outside of it. Possible networking opportunities include the following:
- Current or former bosses
- Coworkers
- Customers
- Suppliers
- Business networking events
- Trade shows
Find A Mentor And Lean On Them For Insight
Through your networking, find a mentor. Specifically, someone that has done what you want to do.
Networking contacts and mentors are excellent resources. Both for establishing your vision and determining the steps necessary throughout your 5-year career journey.
Okay. Now that you have a firm grasp on where you want to go, it’s time for step 2 in today’s guide about making a 5-year career development plan.
2. Take Stock Of Your Current State
Step two requires an objective look in the mirror to evaluate your current situation. Thus, make a comprehensive assessment of the following:
- Current responsibilities
- Job title
- Technical skills
- Soft skills
While your title, responsibilities, and technical skills are specific to your profession, soft skills are more generic. As a result, soft skills are more easily transferrable between people, disciplines, and occupations.
Thus, soft skills are critical no matter what you want to achieve. They are the oil that lubricates the engine that takes your where you want to go.
Examples Of Soft Skills For Career Development Plan Ideas
Here are several examples of soft skills:
- Listening
- Communication
- Public speaking
- Persuasion
- Conflict resolution
- Negotiation
- Effective leadership
- Organization
- Time management
Identify Skill Gaps, Barriers, And Obstacles
Next, with a firm grip on your current state, identify gaps and limitations as you examine your existing skills and qualifications.
Look for shortfalls between the skills you have today versus the skills you must have to meet your career development plan ideas.
Okay, allow me to step back for a moment and recap.
Recap Of Steps #1 and #2 For Creating A Career Development Plan
At this point, you have defined your career destination in 5 years and your current state. So you know where you currently stand and any barriers to where you want to go.
Call it what you like, for example, current versus future state. Or point A and point B. Regardless, every long journey has a starting location and a destination.
So, by completing the first two steps in today’s career development planning exercise, you have created your beginning and ending points.
Next, it’s time for your journey. And like any other trip, a road map is a must for getting from point A to point B leading me to step #3 in today’s 5-year career development plan.
3. Plot Out Interim Steps
Any one of us would like to go from point A to point B immediately and in one big step. However, except for a fortunate few, this is unrealistic.
Thus, interim steps are often required.
5-Year Career Development Plan Template
I prefer using a 5-year plan template to lay out interim steps. Here is a career planning example template for your consideration:
Year | Employer | Title | Responsibilities | Compensation |
1 | ||||
2 | ||||
3 | ||||
4 | ||||
5 |
Feel free to include additional descriptive columns across the top as you see fit.
Next, let’s talk about setting goals.
4. Set Relevant Goals
Every career journey has a road map. Your road map is provided in step 3 by completing the 5-year career development plan template.
However, a journey also requires resources. So now, your career goals come into focus here.
Thus, create fitting 1, 3, and 5-year goals and reasons to attain them. Doing so will allow you to achieve the progress laid out in your interim plan.
To sum it up, your career goals support the interim steps in your career development plan ideas. They are the building blocks to your future success in accomplishing your career objectives.
Here are some short and long-term goal examples to consider.
Examples Of Career Goals
- Be great at your work today
- Seek out performance feedback
- Develop a new job skill
- Make a top-notch resume
- Craft the perfect cover letter template
- Learn to interview like a pro
- Become a better collaborator
- Enhance your interpersonal skills
- Attain increasing levels of leadership
- Master public speaking
- Streamline processes at your job
- Increase knowledge and skills through training
- Get an internship
- Achieve a company KPI
- Cross-train in another functional area
- Get international experience
- Expand your technological expertise
- Start your own business
- Get an additional degree
- Obtain a professional certification
- Win an award in your industry
- Develop your brand
- Earn a promotion
Choosing And Setting Career Goals
Here are several best practices for choosing, setting, and achieving goals.
- Align goals with your career vision
- Ensure goals support interim steps
- Use a proven goal setting-system
- Take action
- Monitor results
Next, here is the final step in your guide to creating a 5-year career development plan.
5. Put Your Plan Into Writing
Commit your plan to paper because writing forces you to clarify your thoughts. Also, a written career plan builds your commitment and resolve to make your dream a reality.
Additional Resource: MasterClass About Designing Your Perfect Career
Now, it’s time for a career planning example.
5-Year Career Development Plan Example
I am going to use a career planning sample from my past. But first, some background information to put it into perspective.
Regular readers know I’m an accountant and CPA by education.
However, my 27-year business career grew into senior management roles where I was ultimately responsible for finance and treasury. Also:
- Accounting
- Operational effectiveness
- Information technology
- Human resources
- Financial and business analysis
In my late 40s, I decided to exit my long-time profession and start a new one. My passion was to become a part-time teacher in early retirement.
But, most importantly, I wasn’t doing it for the money.
Instead, I was doing it to chase one of the items on my bucket list of life goals. Specifically, teaching as an early retirement side gig.
So, let’s roll back the clock and put today’s five-year plan steps to work with an example from my past.
What follows is precisely what I did and how I did it to advance my career in a new profession using this 5-year career development plan process.
But first, save this image to your favorite Pinterest board so you can return to this post later!
1. Example Of Creating A Career Vision
Mission statement: in 5 years, my career objective is to change professions and become a part-time university teacher.
Where do I work: locally, less than one hour commute from my home.
What are my responsibilities: all course development activities and live-in-classroom teaching responsibilities. My courses will focus on business management, corporate finance, and accounting. Online courses are not desirable.
Who is my employer: public or private college or university
Pro tip: As part of answering this question, I researched and developed a list of all potential colleges and universities that met my criteria. Exploring possible employment options is an excellent activity when your career plans require changing employers or changing careers.
What is my title: Professor or Lecturer
How much money do I make: My goal is to augment other sources of early retirement income. Thus, $30,000 per year is adequate.
In addition, I will attain efficiencies where my annual compensation equates to $50 per hour of work, including class preparation and time spent in the classroom.
2. Example Of Taking Stock Of The Current State
Next, I moved on to a gap analysis to identify where I was at (point A). Also, the deficiencies and barriers that would limit me from achieving my career vision.
Current State
As a senior business professional, I have in-depth practical experience. It is excellent knowledge for the classroom.
Furthermore, my many years of experience have honed my soft skills. Most important are communication, public speaking, organization skills, performance management, and persuasion.
Finally, I am passionate about helping others develop their skills, achieve goals, and, most importantly, reach full potential in the workplace.
Skill Gaps, Barriers, And Obstacles
- Inadequate educational credentials
- No academic teaching skills or experience
- Limited professional network in academia
3. Example Of Plotting Out Interim Steps
The interim steps on my career journey are:
Year | Employer | Title | Responsibilities | Compensation |
1-2 | State University | Graduate Teaching Assistant | Tutoring and in-classroom assistance | Stipend |
1-2 | State University | Student | Complete Graduate Degree in Business | Tuition reimbursement |
3 | Local University | Lecturer | Teaching 4 classes annually | $12,500 |
4 | Local University | Lecturer | Teaching 8 classes annually | $25,000 |
5 | Local University | Sr. Lecturer | Promotion; maintain 8 classes | $30,000 |
4. Example Of Setting Relevant Goals
My career goals are:
- Network with academic administrators
- Apply to master’s degree programs
- Complete master’s degree in accounting
- Attain graduate teaching assistant position
- Network with professors
- Seek out substitute or guest lecturing opportunities
- Find a mentor
- Redesign resume
- Learn in-classroom teaching techniques
- Attain Certification in Management Accounting
- Earn Certification in Internal Auditing
- Start an education-based website
If you need help with your resume, check out MyPerfectResume.
Finally, I used a proven goal-setting system known for getting results.
5. Example Of Putting A Career Plan Into Writing
Finally, I documented my 5-year career development plan example, as you see above. It included:
- Vision statements
- Assessment of current state
- Identification of skill gaps and obstacles
- A plan to get from point A to B
- Goal setting to support the plan
- Written documentation
Also, I completed additional information for each goal using the SMART goal-setting system.
Thus, each of my SMART goals had a written statement that included the following elements:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
Additional resource: Take your career to the next level with this MasterClass.
Okay. That completes a 5-year career development plan example from my past using my 5-step plan.
As a result, I’ve accomplished everything I wanted to for this article. Thus, please allow me to offer some final thoughts.
How To Create A 5 Year Career Development Plan With Examples
Now you know precisely how to go about creating your career action plan.
Most noteworthy, I can’t overemphasize the importance of taking your dreams and turning them into a disciplined, organized, and documented process.
As the old saying goes, “if you fail to plan, you are planning to fail.”
So, get to work on your 5-year career development plan right now!
Hungry for more success-based articles? Then check out our:
Tools and Tips for Success No Matter What You Do
Author Bio: Tom Scott founded the consulting and coaching firm Dividends Diversify, LLC. He leverages his expertise and decades of experience in goal setting, relocation assistance, and investing for long-term wealth to help clients reach their full potential.