Paper Topic:

What is succession planning? What effective succession planning strategies can be introduced into an organization to ensure that suitable staff are placed into positions of responsibility, and are capable of handling the roles they are promoted into?

SUCCESSION PLANNING

Succession planning in business is developing a strategy to identify train and develop employees to replace key staff who may soon be terminate their employment , whether through retirement , resignation downsizing or even discharge . It is necessary , some would say critical to ensure a smooth transition of power , knowledge and efficient operations within an organization . Many organizations , especially smaller ones , tend to neglect succession planning as a part of their overall strategic planning process . Studies have proven , however , that without succession planning , there is a noticeable decline in key

elements of a business 's operational efficiency when a key player departs without a smooth and ly transition to a qualified successor

The first step in succession planning is to identify which positions (not people ) are critical to the success of an organization . This will link strategic and workforce planning decisions . Clearly the upper managers are crucial , such as the CEO , COO , CFO , CHRO , etc , but oftentimes other positions become identified as highly important Usually they are held by only one person who has a wealth of knowledge or contacts yet has no one else that knows anything about his or her job . The lone IT guy , for example , is always a key player , and perhaps the purchasing guru , or the one sale rep who handles a big chunk of the accounts , the mechanic who can fix anything , including that one piece of machinery that breaks down at the most inopportune times . Several key players aside from upper management may...

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