Workforce Succession Planning

Abstract

Because of the high level of competitive rivalry in the current business environment , businesses are focusing increasingly on building a competitive advantage that is sustainable . For this reason the development of human capital is a critical success factor . In this respect , workforce succession planning is a crucial consideration . In to conduct this process effectively , the top management must build an infrastructure which enables HR managers and line managers to coordinate their activities to create an efficient structure for workforce succession planning . The involvement of both HR managers and line

managers is crucial when it comes to conducting workforce succession planning effectively . However it must be remembered that the process must occur on a continuing basis because the external environment is changing constantly . This is particularly true in the case of international business . In the case of a large multinational corporation , the management must create an efficient structure for information sharing so that human resource planning can be conducted in alignment with changes in the diverse external environment .Workforce succession planning is the process of developing future leaders . This process is a critical success factor in any organization because of the fast paced change in most industries . As a result organizations have to maintain a constant process of identifying future needs and developing human capital that can cope accordingly . Workforce succession planning enables the management to integrate HR functions into the rest of the organization . This is because the process of workforce succession planning provides an interface between HR...