Comparative Study of Succession Planning

Abstract

In today s globally competitive and modern environments, organisational plans often fail due to the newlinelack of succession planning. However, numerous organisations often fail to prepare for the inevitable newlinedeparture of employees, especially in strategically high-level positions. Succession planning is a newlinemeans of identifying critical management positions starting at lower level management and newlineextending up to the highest position in an organisation. Unlike workforce planning, succession newlineplanning focuses more on advancing the employees skills in order to achieve the organisational newlineobjectives. newlineThere is no organisation that can exist forever in its present composition as there must be some form newlineof succession or else the organisation will become obsolete. Succession planning plays an imperative newlinerole in today s competitive world. There are many factors that influence the stability of an newlineorganisational workforce, among which are illness and attrition. Another essential factor, which has newlinetaken the world by storm, is the retirement of the baby boomer generation in both in the private and newlinethe public sector. This is presenting a challenge within organisations, as they are going to lose newlinetalented and experienced employees and makes succession planning more needed more than ever newlinebefore. newlineSuccession planning is an ongoing process that assists the organisation to align its goals with its newlineworkforce, as well as preserving the best talent for the future. It makes the organisation ready to face newlinethe challenges presented by the vacant key and critical positions. Succession planning is one of those newlinehuman resource planning strategies utilised to forecast the talent demand that the organisation will newlinerequire for achieving its future goals. newlineFor this study, Purposive sampling technique was used in selecting the organisations and newlineparticipants. In view of this, those organisations where approval could be easily acquired and newlinewho gave their consent to partake in the research were used. Likewise, participants were newlineselected usin