Succession Planning Demystified
Attracting, retaining and developing the most talented people is a crucial aspect of business and HR strategy. Succession planning addresses this issue in a systematic way.
The elaborate and secret succession process of the past has been adapted by major employers to meet some of the challenges of today. It has become more flexible and more devolved. The individual is much more involved in dialogues about their future, and often applies for career moves through an open job market. The succession process is line owned, although HR has a critical function in facilitation and data management.
This report gives an account of how succession planning is conducted and where it fits with other HR processes and business priorities.