Succession Planning - Revision history

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User: Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company.

2019-01-07T17:49:18Z

Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company.

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Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Taken narrowly, "replacement planning" for key roles is the heart of succession planning. Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression (Charan, Drotter, Noel, 2001). In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. <ref>Definition of Succession Planning [https://en.wikipedia.org/wiki/Succession_planning Wikipedia]</ref>

===References===
<references/>

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 *[[Strategic Planning]]: Explaining the organizational management activity used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals.
 *[[Risk Management]]: Discussing the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact, which includes planning for leadership succession.
-*Employee Retention: Covering strategies for keeping talented employees within the company to reduce turnover and maintain a competitive advantage.
+*[[Employee Retention]]: Covering strategies for keeping talented employees within the company to reduce turnover and maintain a competitive advantage.
 *[[Mentoring]] and [[Coaching]]: Discussing the role of mentors and coaches in developing the skills and careers of employees, which can be a critical component of succession planning.
 *[[Management Succession Planning]]

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 *[[Corporate Governance]]: Discussing the system of rules, practices, and processes by which a firm is directed and controlled, focusing on the balance between the interests of the company's many stakeholders, including succession planning.
 *[[Change Management]]: Covering methods and manners in which a company describes and implements change within both its internal and external processes, often related to leadership transitions.
-*Strategic Planning: Explaining the organizational management activity used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals.
+*[[Strategic Planning]]: Explaining the organizational management activity used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals.
 *[[Risk Management]]: Discussing the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact, which includes planning for leadership succession.
 *Employee Retention: Covering strategies for keeping talented employees within the company to reduce turnover and maintain a competitive advantage.

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-'''Succession planning''' is the process of preparing for the eventual transfer of power and responsibility from one generation to the next. This can include identifying and training potential successors, creating a plan for how the business will be run during and after the transition, and putting measures in place to ensure a smooth changeover. Succession planning is important for businesses of all sizes, but it is especially critical for family-owned businesses, which often have complex ownership structures.
+== What is Succession Planning? ==
-==References==
+== References ==
 <references />

← Older revision		Revision as of 15:44, 29 December 2022
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	==See Also==		==See Also==
		+	*[[Management Succession Planning]]
	*[[Enterprise Risk Management (ERM)]]		*[[Enterprise Risk Management (ERM)]]

← Older revision		Revision as of 15:40, 29 December 2022
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	'''Succession planning''' is the process of preparing for the eventual transfer of power and responsibility from one generation to the next. This can include identifying and training potential successors, creating a plan for how the business will be run during and after the transition, and putting measures in place to ensure a smooth changeover. Succession planning is important for businesses of all sizes, but it is especially critical for family-owned businesses, which often have complex ownership structures.		'''Succession planning''' is the process of preparing for the eventual transfer of power and responsibility from one generation to the next. This can include identifying and training potential successors, creating a plan for how the business will be run during and after the transition, and putting measures in place to ensure a smooth changeover. Succession planning is important for businesses of all sizes, but it is especially critical for family-owned businesses, which often have complex ownership structures.
		+
		+
		+
		+
		+	==See Also==
		+	*[[Enterprise Risk Management (ERM)]]
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		+
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		+
		+	==References==
		+	<references />

← Older revision		Revision as of 18:14, 20 July 2022
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−	Succession planning is ~~a [[~~process]] for ~~identifying~~ and ~~developing internal people with the potential~~ to ~~fill key [[business]] [[leadership]] positions in~~ the ~~company~~. ~~Succession planning increases the availability of experienced~~ and ~~capable employees that are prepared to assume these roles as they become available. Taken narrowly~~, ~~"replacement planning"~~ for ~~key roles is~~ the ~~heart of succession planning. Effective succession or talent-pool [[management]] concerns itself with building a series of feeder groups up~~ and ~~down~~ the ~~entire leadership pipeline or progression (Charan~~, ~~Drotter, Noel, 2001)~~. ~~In contrast, replacement~~ planning is ~~focused narrowly on identifying specific back-up candidates~~ for ~~given senior management positions. <ref>Definition~~ of ~~Succession Planning [https://en.wikipedia~~.~~org/wiki/Succession_planning Wikipedia]</ref>~~	+	'''Succession planning''' is the process of preparing for the eventual transfer of power and responsibility from one generation to the next. This can include identifying and training potential successors, creating a plan for how the business will be run during and after the transition, and putting measures in place to ensure a smooth changeover. Succession planning is important for businesses of all sizes, but it is especially critical for family-owned businesses, which often have complex ownership structures.
−
−
−	~~===References===~~
−	~~<references/>~~

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-Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Taken narrowly, "replacement planning" for key roles is the heart of succession planning. Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression (Charan, Drotter, Noel, 2001). In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. <ref>Definition of Succession Planning [https://en.wikipedia.org/wiki/Succession_planning Wikipedia]</ref>
+Succession planning is a [[process]] for identifying and developing internal people with the potential to fill key [[business]] [[leadership]] positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Taken narrowly, "replacement planning" for key roles is the heart of succession planning. Effective succession or talent-pool [[management]] concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression (Charan, Drotter, Noel, 2001). In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. <ref>Definition of Succession Planning [https://en.wikipedia.org/wiki/Succession_planning Wikipedia]</ref>
 ===References===
 <references/>