What Is Succession Planning In HR?

What Is Succession Planning In HR?

1 Answer

  1. Succession planning is a systematic development technique used to replace old or retired leaders in an organization by identifying and developing new leaders. It is done for top positions in the organization.
    Succession planning has many advantages. Few of which are listed below:
    1. Employees become aware that there is career advancement opportunity and may work harder to achieve goals.
    2. Employees may work on their leadership skills to be able to get the top position which will also lead to their personal growth.
    3. When internal employees are appointed at higher positions through succession planning, it is beneficial for the organization. This is because they know the in and out of organization’s operations and hence can make quick decisions.
    4. Improves employee retention rate as they see career development opportunities.
    5. Since employees are trained in advance, knowledge transfer is not an issue and hence the organization is prepared for immediate replacements if need be.

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