Succession Planning is a process by which one or more successors are identified for key critical positions within the organization and career plans and development activities are structured for these successor(s).
How Succession Planning Helps
- ØDetermining workforce trends and organizational preparedness.
- Planning short term and long term plans by aligning to organizational goals
- ØIdentifying the employee growth needs.
Benefits of Succession planning:
- –Your organization is risk free if a critical person leaves the organization. There can be a quick movement of the successor.
- Successors are training and their career plan is structured.
- Better Retention levels
- Greater employee satisfaction levels
- –Training plan for successors in place
- –Increased preparation for leadership and critical positions
- Organizational preparedness.
- –Enhanced commitment to work and workplace
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