Succession planning is one such process which cannot be ignored keeping in mind the competitive industries. Strengthening this process directly impacts the organization as it is the nourishment of talent. this activity cannot be carried out as an ad-hoc exercise but needs to be a systematic approach. It can be further fine tuned varying from organization to organization and different industries but the major structure remains same.
We need to ensure that key positions in an organization are always filled with capable talent and this pipeline keeps on churning out seamlessly. The landscape has totally changed if we compare to what it was a decade ago and hence the approach has to evolve, rather than being reactive and shedding flab later, pro-active approach needs to be followed where we are capable enough to chalk out plan of individual in an organization keeping in mind the macro picture.
Succession planning not to be considered just an exercise, but focused upon so much that succession planning can be converted into succession development hence developing the talent pipeline and hence achieving organizational goals.