More than just preparing for attrition, well-run succession planning system gives you a deep beach of leadership material. Succession planning is one aspect of talent management that identifies and develops employees within an organization with potential, in order to fill in key positions as and when they become available or vacant. Succession planning system has evolved over the years and it is constantly evolving and changing to suit the changing business practices and scenario.
Regardless of the growth stage of a company, succession planning system should be considered an integral part of long-term survival strategies. a leadership shakeup, no matter the underlying causes, will rattle employee, investors and the public especially if it becomes apparent that the company does not have a plan in place for leadership transitions. Business planning typically focuses on the marketing. Financing and operational management of business . Understandably, these are details that can be anticipated, monitored and measured to a certain extent. |