HR Terminology

Succession Planning

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Succession planning is a strategic process through which organisations identify and develop potential future leaders to ensure a smooth transition of key roles within the company.

Succession planning is not always limited to executive roles but extends to critical positions at various levels of the organisation. The goal of succession planning is to proactively and systematically prepare for the departure or promotion of key personnel, minimizing disruptions and maintaining organisational continuity.

FAQ

Ideally, organizations should initiate succession planning early to allow sufficient time for identifying, developing, and preparing potential successors. It is an ongoing process that should be integrated into the overall talent management strategy, starting as soon as key positions are identified.

Creating an effective succession plan involves several key steps, including identifying critical positions, assessing current talent, developing future leaders, and regularly reviewing and updating the plan. Organisations should also ensure clear communication and alignment with strategic goals.

While succession planning often focuses on leadership roles, it can and should be applied to key positions throughout the organisation. Identifying and developing talent at various levels ensures a robust pipeline of skilled individuals ready to take on increased responsibilities.

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