Succession planning is a type of planning where organizations identify internal employees as potential candidates for filling future vacancies that may arise within the organization and start training them well ahead of time to perform those roles.

1. Succession Planning: Importance and benefits
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Succession planning is an important element of Talent management
planning.
What is succession planning?
Succession planning is a type of planning where organizations identify
internal employees as potential candidates for filling future vacancies
that may arise within the organization and start training them well ahead
of time to perform those roles.
Why is succession planning important?
Every organization will have some form of job vacancy arising in future
due to attrition or people retiring from their jobs. However, it is
important for organizations to continue to function smoothly irrespective
of losing such key employees performing key roles. When organizations

2. have a succession plan, it makes it easier for them to handle any
unforeseen attrition and prevents the organization from being greatly
impacted by such attrition.
Many organizations perform this type of talent management planning for
senior management positions so that losing a key leader would not disable
the organizations’ regular functions. However, succession planning would
be more effective if it is performed at all levels in the organization
instead of focusing only on the top management.
Benefits:
The benefits of succession planning are numerous:
 It serves as contingency planning and keeps the organization well
prepared for any sudden attrition that may happen and reduces the
impact of losing key employees to a great extent
 By insisting on succession planning, managers get to identify various
skill-sets among the team members and their strengths come to
light
 Also, employees who are identified as successors based on the skill-
sets they possess can be groomed well to handle the relevant
positions, and any skill-set that is lacking in the employee can be
developed by providing appropriate training and opportunities
 Employees get to have a well-defined road map of their career and
it serves as a motivation factor for them to perform even better
 Employees who get to understand that their organization has future
plans for them, will tend to stay with the organization for longer
time

3.  Internal employees already have a good understanding of the
organization and its goals. Thus, it saves a considerable amount of
time and cost for the organization in hiring and inducting new
candidates for these positions
 Overall, it creates a very positive atmosphere within the
organization and leaves employees feeling extremely satisfied in
terms of career progress and highly motivated.
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