Asked by Micah Awisus on Jun 23, 2024
Verified
What is succession planning,and what are three of its benefits to organizations?
Succession Planning
A strategy for identifying and developing future leaders within an organization to ensure a smooth transition in key positions.
- Understand the critical role of succession management in drawing in and keeping essential employees within an organization.
Verified Answer
MC
Mikayla CunneyJun 29, 2024
Final Answer :
Succession planning is the process of training and work experience that enables individuals to assume higher-level job appointments in the future. Some of its benefits include:
∙ Enabling the organization to respond appropriately and stay on track when inevitable changes occur;
∙ Providing for continuity and future direction in the midst of significant change;
∙ Helping prepare people for new experiences and jobs (this preparation can also help improve their performance in current positions);
∙ Positively motivating employees when succession planning takes into account employees’ performance;
∙ Supporting new organizational structures and flexibility by explicitly providing backup for various positions, thereby reducing organizational dependency on one employee;
∙ Saving time and money by having plans in place to enable the smooth transition of employees.
∙ Enabling the organization to respond appropriately and stay on track when inevitable changes occur;
∙ Providing for continuity and future direction in the midst of significant change;
∙ Helping prepare people for new experiences and jobs (this preparation can also help improve their performance in current positions);
∙ Positively motivating employees when succession planning takes into account employees’ performance;
∙ Supporting new organizational structures and flexibility by explicitly providing backup for various positions, thereby reducing organizational dependency on one employee;
∙ Saving time and money by having plans in place to enable the smooth transition of employees.
Learning Objectives
- Understand the critical role of succession management in drawing in and keeping essential employees within an organization.
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