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What is Succession Planning?
Succession planning is a strategically tried-out process of identifying the next generation of leaders who can ensure business continuity when key leaders move on to new opportunities, retire or pass away. Succession planning is the means of preserving a company's future and its associated stakeholders.
1. Identify
Define key competencies needed to succeed in critical roles & nominate candidates.
2. Assess
Use reliable & valid tools to evaluate candidate readiness on key competencies.
3. Plan
Use customized reports to handpick the right candidates for succession.
4. Act
Develop & track the selected candidates' growth.
Why Having Succession Planning Systems is Critical For Your Organization?
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Ensures Business Continuity When A Leader Exits The Company
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Ensures Availability of High-Potential Future Leaders
![Ensures ,[object Object], for ,[object Object], and Jobs](https://assetsprelogin.mettl.com/_next/image/?url=%2Fassets%2Fsuccession-planning%2FEffective-Promotions.jpeg&w=3840&q=75)
Ensures Effective Promotions for Critical Roles and Jobs