A succession plan identifies future staffing needs and the people with the skills and potential to perform in these future roles.
Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions. Taking a holistic view of current and future goals, this type of preparation ensures that leaders have the right people in the right jobs today and in the many years to come.
A successful succession plan is
- closely tied to business strategy and goals;
- engage executive and senior leaders in the process;
- define the development of key competencies and skills necessary for business continuity, and talents needed.
- prepares staff to support the selected team.