With technology changing rapidly and with constantly developing, innovative ways to provide products and services, organizations must initiate a plan to ensure that people are developed for future leadership. The last reason why succession planning in the different levels of management is needed is because of a fear and reality of losing people. The job market is very favorable for the employee right now. Good, quality employees have many options open to them, and to keep these employees, a company needs to have a succession or career development plan in place to serve as an incentive to retain them. All these reasons for succession planning drive many organizations to create a plan that allows for development of people.
Succession planning includes assessment and career development.
It focuses on the career development needs of replacement candidates for managerial jobs. At your organization, the development needs of your employees may have been given a great deal of attention, but the career development needs may not have. You may have a number of people who are willing to learn and develop through the proper training and take over the management positions. Now is the time to put the recommended model of career succession planning in place and begin developing your own people to lead you into the future. Examples of Succession Planning Succession planning is perceived differently today than in the past.