What is succession planning 

What is succession planning: Once we build a great team in our business, it is tempting to think that it will stay the same forever but things always change and we have to be ready for it. Here you'll get to read what is succession planning. 

What is mean by succession planning ?

Succession planning is the process of identifying and developing new leaders who can replace old leaders when they leave. 

Who needs succession planning ?

All organizations, no matter their size, need succession planning. Suppose if you're running a business then you're likely to have key roles that are filled by valuable employees who are making sure that the business is running smoothly. 

But it's important to be aware that things can quickly change and your key employees can move on to other companies or start their own thing. 

Benefits of succession planning

Succession planning increases the availability of experienced and capable employees that are prepared to continue these roles as they become available. 

How do you develop a succession plan ?

So if you want to make sure that you're prepared when things are changing then here are some steps that you can take for successful succession planning.

1. Identify critical roles the first step of the process is to identify the critical roles in your business that are important. 

2. Assess your team once you know the critical roles or positions in your business the next step is to look at your current staff and decide who would be appropriate candidate.

3. Create development plans after you have selected potential candidates you can then create an action plan on how to get these people trained.

4. Develop successors this will involve arranging additional training for the potential successors and spending some time with the current key employees to get practical experience. 

5. Monitor and adjust because this is a preventative process you don't always know when the change will take place so you have to keep this process always fresh. 

I hope that you enjoyed reading this quick summary of what is succession planning and how you can use it to your advantage. 

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