Succession Planning

In organisational development, succession planning is the process of identify and preparing suitable employees through mentoring, training and job rotation, to replace key players.

Succession planning is a process whereby an organisation ensures that employees are recruited and developed to fill each key role within the company. Through your succession planning process, you recruit superior employees, develop their knowledge, skills, and abilities, and prepare them for advancement or promotion into ever more challenging roles.

Through your succession planning process, you also retain superior employees because they appreciate the time, attention, and development that you are investing in them. To effectively do succession planning in your organisation, you must identify the organisation’s long term goals. You must hire superior staff.

You need to identify and understand the development needs of your employees. You must ensure that all key employees understand that their career paths and the roles they are being developed to fill.

Succession planning is particularly important for medium sized SME's that have ourgrown their original founders and who may want to exit the company. Succession plans and exit strategies go hand in hand in such cases. The business farm specialises in Sucession plans and exit strategies.