CULTIVATING TOMORROW’S TALENT TODAY
Organizations develop succession plans to assist in its human resources planning process to ensure it has qualified candidates to replace people who may leave for any reason, such as retirement, illness, or taking another job. Additionally, organizations develop succession plans in order to anticipate its talent requirements due to growth and expansion plans, a need for new/different skills (i.e. new markets/product/services, etc.) as well as a need to expand or upgrade existing positions.
A succession plan is a plan that helps protect, strengthen and perpetuate an organization’s future by developing a process to articulate future talent needs.
Organizations of any size or type can develop a succession plan for any and all employee levels.