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Succession management refers to the practice of identifying possible successors for crucial roles, honing and nurturing their talent and ensuring they seamlessly fit into organizations’ structures so that companies can future-proof themselves against the most visible and unforeseeable odds.
Succession management is essential as it covers the senior-most positions in a company’s hierarchy and considers critical roles along the various stages of the corporate ladder. Employee development is also integral to succession management. It builds a high-level of engagement among high-potentials who desire achievements and career advancement. Companies also undertake succession management to anticipate the skill set of their talent pool.
Succession development is a method used to identify and develop emerging leaders so that they can take control in time of need and keep a company afloat and unaffected.
Succession planning is a detailed and vital undertaking to identify people who could immediately, or after targeted development, assume key positions. Considering the evolving workforce, various companies ensure that the succession plan is adhered to periodically and is adapted at all levels, be it leadership roles, mission-critical positions or niche roles.Read More
Future-proof your business with digital succession planning approach
Succession planning is a comprehensive activity for all-round business continuity, from planning, understanding the types, the right process and tools.
Organizational Planning is important for the survival and growth of an organization. It dives into Leadership Development, Succession Planning, and HiPo Identification.
Learn how you can ensure an ideal succession with a healthy talent pipeline using the right succession planning strategies and succession planning steps.
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