Succession planning is a strategic process that involves identifying and developing individuals within an organization to fill key roles and leadership positions as they become vacant due to retirements, promotions, or other reasons.
The goal of succession planning is to ensure a smooth transition of leadership, maintain organizational continuity, and develop a talent pipeline for the future.
Here are key components and considerations in succession planning:
Identification of Key Positions:
Talent Assessment and Development:
Leadership Competency Framework:
Succession Planning Committee:
Mentoring and Coaching:
Developmental Assignments:
Performance Management:
Communication and Transparency:
External Talent Acquisition:
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