Identification and Development of Employees for Key Positions
Succession planning is one of the most important aspects of a successful business.
It is the process of identifying and developing employees with the potential to fill key leadership positions within a company. By identifying and preparing potential successors in a timely manner, the company can ensure leadership continuity and mitigate the risks associated with sudden, unwanted departures.
Succession planning is investment in the future, because it supports loyalty and engagement of key employees and is a tool to attract new talent to the company.
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