Succession Management is an active and ongoing process that involves identifying, developing, and monitoring high performing high potential employees, preparing them for advancement into key roles, roles necessary for the successful execution of the business strategy.
These necessary roles include not just senior leader positions, but also all of the positions which have a significant impact on customers and other key stakeholders and also, positions that have characteristics that are unique to the organization and may be difficult to fill from the open marketplace.
Succession planning needs to be integrated into some unifying framework, whether it is a workforce planning strategy or competency model, to make sure that the organization has the right people in the right place with the right skills at the right times.
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