Succession Planning

What does it mean?

Succession Planning is a process of identifying and developing internal talent to fill leadership positions within an organization when they become vacant. This can include activities such as talent assessment, leadership development, and mentoring.

Why is Succession Planning important for a business?

Succession Planning is important for businesses to ensure continuity of leadership, reduce disruption and uncertainty during leadership transitions, and promote a culture of development and growth. It can also help to improve employee retention and engagement by providing opportunities for professional growth and advancement.

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