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Succession Planning

Summary: Lack of executive talent can have a catastrophic impact on a business. Succession planning is not only for the top job, but must develop a pool of talent with skills and experience to fill specific, often high-level positions. Many organizations fail to understand that it's not just an employee's performance that counts, its also their promotability, which includes having a way to ensure that the employee's job will get done if he or she is promoted. Early identification of key talent allows companies to proactively develop leaders for the future. Successful succession plans have elements in common, such as visible support form top management, clearly identified leadership criteria, a defined plan to identify and retain future leaders, and the use of succession planning to reinforce corporate culture. The process need not be overly difficult or complex; the important thing is prompt action.

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  • Topics: Career Development, Leadership
  • Keywords: Career development,Employee retention,Leadership,Organizational culture,Organizational design,Planning,Strategic planning
  • Author: Berchelman, D. Kevin
  • Journal: Journal for Quality and Participation