The Unseen Limitations of Succession Planning: Challenges and Solutions
The Importance of Succession Planning Succession planning is a crucial aspect of any organization’s long-term success. It involves identifying and developing future leaders to take over key roles, ensuring a seamless transition of power and minimizing disruptions to the business. A well-planned succession strategy can help companies maintain their competitive edge, drive growth, and increase employee engagement. According to a study by the Society for Human Resource Management (SHRM), organizations with a succession plan in place are 24% more likely to experience revenue growth and 21% more likely to experience increased employee engagement. ...