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Succession planning is the process of selecting and developing key talent to ensure the continuity of critical roles. It’s about identifying top performers and potential leaders and mentoring and developing them so they can advance in the organization and move into top-level roles. Employees get promoted, move companies, and retire every day.
Oct 29, 2021 · Effective succession planning gives you a roadmap that you can follow as your team grows and people move into different positions (whether that’s with your company or elsewhere). Going through the process allows you to feel far more prepared to address role gaps without a frantic scramble.
Mar 21, 2022 · If you’ve watched the popular TV series Succession, you know the trouble that can break out when a founder prepares to leave the business. Well-crafted succession plans fall apart as family members and outsiders battle for control.
Oct 26, 2022 · 1. Look at critical vs. vulnerable positions. When figuring out which leadership positions to plan for first, you want to look at two metrics: vulnerability and criticality. • Vulnerability...
Article • 9 min read. Succession Planning. Transferring Key Knowledge, Skills, and Abilities. MTCT. By the Mind Tools Content Team. Make sure vital knowledge, skills and experience are handed over. vm / © iStockphoto. When key people retire or leave your organization, a huge amount of knowledge and experience leaves along with them.
Succession planning is the practice of building out your talent assessment and leadership development programs along with a succession planning matrix that maps out potential successors for key positions. Put simply, succession planning is building your bench plan.
Sep 30, 2021 · Succession planning is a strategic process for identifying high-potential employees and taking steps to prepare them for future leadership positions. It helps your business develop and retain the talent pipeline so you can quickly fill vacant leadership roles.
