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Succession Planning

Succession Planning
Succession Planning: The process of ensuring that pools of skilled employees are trained and available to meet the strategic objectives of the organization.

Replacement planning: The process of finding replacement employees for key managerial positions.

PROCESS OF SUCCESSION MANAGEMENT


Align succession management plans with strategy Identify the skills and competencies needed to meet strategic objectives
Identify high potential employees Provide developmental opportunities and experiences.

Succession Planning
Negative aspects of Succession planning: 1. Elitism- favouring a special group of people. 2. Risk of spotlight: Hiding the capable employees from the spotlight. 3. Selection bias: Similar to-me selection bias is more prevalent. The executive believe more in their own kind of people. 4. Unpredictable future: Nothing is sure in present scenario, so some times the company has to go for downsizing without having accurate plan for the employees.

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