Succession Planning and Managment Essay

2002 Words9 Pages
Succession planning is an ongoing process of systematically identifying, assessing, and developing talent to ensure leadership continuity for all key positions in an association. In the course of human history, succession planning has been prevailing in different forms. Royal families of the United Kingdom committed many evils to appoint successors. From the time of Industrial Revolution, organizations adopted methods to plan the changes in their leaders in order to protect their organizations. In recent decades, formalized and concentrated methods of succession planning were introduced and such methods led to the development of a new field for succession planning. Nowadays, organizations try to apply succession planning to fill key positions with competent individuals. The purpose of succession planning is to minimize the gap appearing in the operations of the organization, when key personnel retire. The importance of succession planning is well known in industry and in the armed forces. It provides a venue for an orderly transition of command and control responsibilities to a designated person who is preselected and groomed to take on higher responsibilities with minimal to no disruption of ongoing operations in case the incumbent leaves their position. There is a significant amount of literature available on this topic listing the importance of succession planning and of how, who and when to do it. The literature lists the benefits of succession planning and the best way of how to execute it. Because of its high importance it gets covered in management school extensively. Despite its high importance and extensive coverage, many organizations still lag behind in developing and in executing their succession plans. The management of succession planning has been a major part of human society for thousands of years. The process for succession planning is varied from
Open Document