What does "succession planning" entail?

Succession planning is a strategic process that involves preparing for future staffing needs by identifying and developing internal candidates for key positions within an organization. This approach ensures that the organization has a strong pipeline of talent ready to step into critical roles as they become available. It emphasizes the importance of developing existing employees through training, mentorship, and leadership development, aligning their career aspirations with the future needs of the organization.

By focusing on internal candidates, succession planning fosters employee engagement and loyalty, as individuals see opportunities for advancement and professional growth within the organization. This proactive approach helps businesses maintain continuity and stability, minimizing disruptions that can occur when key positions are left vacant or filled by individuals who may not be familiar with the organization's culture or operational intricacies.

In contrast, finding external candidates, creating new job positions, or solely evaluating employee performance do not capture the essence of what succession planning aims to achieve. These alternatives may form part of broader HR functions but do not focus specifically on preparing and nurturing internal talent for future leadership roles.