Succession Planning: Developing Leaders for Tomorrow to Ensureorganizational Success

Abstract

The contemporary research on the various dimensions of organizational behaviour paradoxically fails to emphasize or give needful attention to an important issue of succession planning. The organization aren't fully aware of the negative impacts of succession planning and vis-í -vis its cost to the organization. Managing the succession of talent is a vital strategic process that minimizes gaps in leadership and enables the best people to develop the skills necessary for possible future roles. The development of "high potentials" to effectively take over the current leadership and replace the one at a perfect time in the similar positions is known as succession planning. As organizational structures are flattening and signiï¬cant changes in work arrangements force executives and management development professionals to rethink on how high potential managers attain the requisite developmental experiences of senior managers. Succession plan helps identifying and grooming high potential managers for advancement into key, senior positions effectively, while a leadership development programs creates a pool of potential leaders with specialised area of expertise, and give them with opportunities for professional growth.