Objectives Of Succession Planning

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Globalization and technological changes are causing significant changes in the nature of jobs and work. Technological advancements (e.g. fax machines, personal computers, and the internet) have allowed companies to relocate operations places with lower wages. For example, India and China have become outsourcing hubs for the developed world. There is also a trend toward increased use of temporary or part-time workforce in organizations. A major change in the nature of work is the shift from manual to knowledge work. As the center of gravity in employment is shifting from manual to knowledge workers, they want autonomy, challenging jobs, immediate feedback and rewards, Gupta,C.B.(2009). Succession…show more content…
This ensures that the organization has depth in its leadership capacity. It is a systematic strategy to build capacity ‘within the ranks’, allowing employees to be ready for new leadership roles as the need arises. Hence, Succession Planning is a critical element in talent management and, as such, a core strategic Human Resource initiative. • Assure continuity of prepared leaders for key executive positions. • A disciplined process of reviewing leadership talent. • Increased opportunities for high potential workers. The strategic, systematic and deliberate effort to develop competencies in potential leaders through proposed learning experiences such as targeted rotations and educational training in order to fill high level positions without favoritism. • Increased talent pool of ‘promotable’ employees. • Contribution to the organization’s business plans. • Assisting individuals to realize their own career plans within the…show more content…
This is carried out by asking rigorously, What business will need in the way of talent five years hence? Thereafter an internal assessment of potential candidates is carried out objectively by carrying out 360-degree feedback to collect anonymous data from diverse stakeholders. Having then short listed the candidates who are likely to fill the vacancies they are put through rigorous steps of learning and development. The Prerequisites for Succession Planning are, a. Commitment from the Top Management, b. Ownership, c. Vision of what the organization will need, d. Snapshot of present conditions, e. Openness to non-traditional sources of talent and a well-documented training and development program, Colonel (Dr.) Narendar,

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