Open AccessSUCCESSION PLANNING AND ITS EMERGING ISSUES IN TODAY’S DYNAMIC ENVIRONMENT: AN EMPIRICAL STUDY
Author(s) -
Richa Khugshal
Publication year - 2020
Publication title -
epra international journal of economic and business review
Language(s) - English
Resource type - Journals
eISSN - 2349-0187
pISSN - 2347-9671
DOI - 10.36713/epra3093
Subject(s) - succession planning , strategic planning , ecological succession , business , strategic human resource planning , process (computing) , workforce , process management , knowledge management , political science , marketing , computer science , ecology , finance , law , biology , operating system
Succession planning plays a crucial role in today’s competitive environment. Escalation pool of talent has major contribution in organizational growth. Thus, identification and development of talent is a necessity for overall development of every organization. The aim of this study is to help organizations to know the importance of succession planning and various challenges of succession planning. This research is tried to cover many aspects of succession planning like organizational survival, strategic planning, prepares future leader, a necessary process in today’s organization, challenges, and organizations performance. This present study showed that succession planning helps organization to survive for longer span of time; it has positive impact on organizational performance; it has positive relationship with strategic planning; it is a necessary process for organizations to motivate and create competent and stable workforce; organizations face many challenges in implementing succession planning, so organizations must be capable enough to make effective succession plan; and it also assists organizations in identifying and preparing future leaders.KEYWORDS: Succession Planning, Organizational Survival, Strategic Planning, Future Leaders, Challenges, Organizations Performance.