What is the process for developing a succession planWhat is the process for developing a succession plan

Posted: March 14th, 2023

What is the process for developing a succession plan? Also, explain the importance of a succession plan. 200 words

 

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SOLUTION

Developing a succession plan involves identifying and preparing individuals to assume key roles within an organization when a current leader or employee leaves due to retirement, resignation, or unforeseen circumstances. The process generally involves several steps, including identifying critical positions within the organization, assessing the skills and competencies necessary to fulfill those roles, identifying potential internal and external candidates, and providing training and development opportunities to prepare them for their future roles.

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