SUCCESSION PLANNING

(Concept & Components)

Presented by:
LIVJOT SANDHU
(58)
Meaning of SUCCESSION PLANNING
 Succession Planning is the process of
identifying and developing new leaders who
can replace old leaders when they leave,
retire or die.
 Succession Planning increases the availability

of experienced and capable employees that

are prepared to assume these roles as they
become available.
Definition of SUCCESSION
PLANNING
According to Linda Henman;
Succession Planning is
deliberate, systematic effort to
guarantee leadership continuity,
a process for ensuring a suitable
supply for current and future
jobs so that the careers of
individuals can be managed to
optimize both the organization’s
needs and the individual’s
aspirations.
Objectives of Succession Planning

 To maintain strategies with regard to the

company Mission, Vision& Objective.
 To identify replacement needs.
 To enhance the talent poll.
 To provide growth opportunities.
Need of Succession Planning
 It retains risk analysis.
 To reduce increasing cost of hiring new
talent.
 When the existing workforce lacks the
readiness to accept or assume
responsibility of the key position when
vacancies open.
 To maintain strong and consistent strategy,
work culture, by grooming the successor to
support it.
 To moderate or reduce high iteration rate of
high potential workers.
 To retain the young potential performer with

expectation of career advancement.

Phases of Succession Plan Process

Conduct
Identify Key/
Position
Critical Position
Analysis

Monitor,
Develop
Evaluate, and
Succession Plan
Revise
PHASE 1: Identify Key/ Critical
Position

It is the primary phase of succession planning.

The positions can be considered as key/critical
on the following basis:
• Key Contributor
• Specialized Leadership
• Geographic
• Vacancy
PHASE 2: Conduct Position Analysis

It is essential to conduct position analysis

after identification in order to develop a
suitable performance management program.
PHASE 3: Develop Succession Plan
This phase of the succession plan is the
culmination of phase1&2
PHASE 4: Monitor, Evaluate, and
Revise
 Select evaluation period.
 Be prepared to respond rapidly to unforeseen

changes to plan.
 Status /Progress updates should be

monitored.
Thank You