Succession Planning Facts and Fantasies

Journal for Quality and Participation vol. 28 issue 3 - September 2005

Abstract: Succession planning is the development of a pool of talent with the skills and experience to fill specific positions within the organization. As the work force ages and more executives are changing jobs, organizations are finding it more difficult to promote internal candidates, particularly for senior executive positions. Yet 67 percent of organizations do not have any succession planning process and only 24 percent are confident of their ability to staff leadership positions in the next five years. Reasons given for the lack of succession planning are that more pressing challenges take priority and the effort would take more resources than the organization can spare. Having a succession planning process that links to the organization's vision and career development process is the best approach for ensuring that the right talent is available when needed.

Keywords: Vision - Employee retention - Leadership - Organizational culture - Organizational design - Strategic planning - Career development

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