Succession Planning
Succession planning is the process of identifying and developing employees to fill key leadership positions when they become vacant.
global
Category
intermediate
Difficulty
5 min read
Read time
2025-01-15
Updated
Definition
Short definition
Succession planning is the process of identifying and developing employees to fill key leadership positions when they become vacant.
Detailed explanation
Succession planning ensures business continuity by preparing internal candidates to fill critical roles. It identifies key positions, assesses potential successors, develops their capabilities, and ensures smooth transitions when changes occur.
Effective succession planning is proactive rather than reactive. It goes beyond executive roles to include other critical positions whose vacancy would significantly impact operations.
Modern approaches emphasise development pools over single successors, ongoing development rather than last-minute preparation, and transparency about career paths.
Practical guidance
How it works
Organisations identify critical roles, assess internal talent against role requirements, create development plans for potential successors, track progress, and update plans regularly.
Best practices
Focus on critical roles
Assess objectively
Develop actively
Review regularly
Frequently asked questions
How far in advance should succession be planned?
Succession planning should be ongoing. For senior roles, identify potential successors 2-5 years before transition is likely, allowing time for development.
Should succession plans be shared with employees?
Modern practice favours transparency about career paths and development opportunities, though specific succession designations may remain confidential.
Related glossary terms
Talent Management
Talent management is the strategic process of attracting, developing, retaining, and deploying skilled employees to meet current and future business needs.
Performance Review
A performance review is a formal assessment of an employees work performance, typically conducted annually or periodically, covering achievements, development, and future objectives.