BNET Business Dictionary
Business Definition for: Succession Planning
- the preparation for the replacement of one postholder by another, usually prompted by retirement or resignation. Succession planning involves preparing the new postholder before the old one leaves, possibly with training or through work shadowing. At a senior level, management succession should be accomplished as smoothly as possible in order to avoid organizational crises caused by absent or inadequate top management. General Electric is held to be an exemplar of succession planning for its successful transition following the retirement of Jack Welch.
Additional Resources
- Alarm Bells Ring About Succession Planning
- The ongoing subprime mortgage meltdown means the drumbeat of CEOs being pushed out the door at some of the world's largest financial firms is getting faster. The struggles of these companies to find new leadership highlights an issue that's already been getting a lot of attention lately: the crisis in...
- Blog posts 2007-12-17
- The Strategy Of Succession Planning
- The concept of succession planning has become an important part of many companies' strategic planning but not in all companies. Too many think of succession planning as having application only in family owned companies or in large conglomerates. In fact, succession planning should be a part of every company's Strategic...
- White papers 2003-01-01
- Recruiting And Succession Planning: Three Tips On Getting Involved
- From the executive summary: ‘Succession planning is the fastest and cheapest way to get a well-qualified person into an open position. Unfortunately, very few organizations have a well-thought-out or well-executed succession planning program. CEO egos, most people's dislike of thinking about a time when they will not be in a...
- White papers 2003-08-20
- Failing Succession Planning 101
- Failing Succession Planning 101RE: Failing Succession Planning 101Succession planning failures across levels are quite an issue here in Nigeria, where majority of small and start-up companies hardly outlive their owners.I have been considering a move from the organisation I work with for a few months now, but have been...
- Discussion threads 2008-08-22
- HR Field Guide: 5 Tips To Effective Succession Planning
- Succession planning systems identify, prepare, and track high potential employees for promotion and advancement. This paper explores five critical steps to ensure that you get the most out of your succession planning investments. Succession planning systems identify, prepare, and track high potential employees for promotion and advancement. Organizations can realize...
- White papers 2009-09-01
- Performance - Based Succession Planning
- From the executive summary: ‘Developing direct reports is the responsibility of each and every supervisor. Succession planning provides a direct and easy-to-follow model for strategic talent management. Viewing employee development from the organizational perspective of succession planning helps to keep talent management activities focused and efficient. Performance-based succession planning puts...
- White papers 2004-07-01
- Human Capital: Selected Agencies Have Opportunities to Enhance Existing Succession Planning and Management Efforts
- As the federal government confronts an array of challenges in the 21st century, it must employ strategic human capital management, including succession planning, to help meet those challenges. Leading organizations go beyond a succession planning approach that focuses on replacing individuals and engage in broad, integrated succession planning and management...
- White papers 2005-06-01
- Succession Planning Best Practices
- Succession planning is one of the most critical endeavors an organization undertakes. In our experience, different companies apply succession planning for a variety of purposes. Most organizations, however, tend to focus on many of the goals simultaneously. No mater what the purposes, succession planning criteria and processes should stem from...
- White papers 2002-11-23
- Succession Planning: Are You Ready for the Future?
- Thinking ahead is a cardinal rule of business. In a changing and competitive business environment, implementing a succession planning process may be the most important human resource management investment one can make. This article discusses an approach to succession planning developed specifically for a number of companies in Asia. Effective...
- White papers 2003-05-28
- KSU center pairs up with Akron chamber, COSE for succession planning programs.(Small Business)(Kent State University)(Brief article)
- Kent State University's Ohio Employee Ownership Center is teaming up with the Council of Smaller Enterprises and the Greater Akron Chamber to present business succession planning programs in Cleveland and Akron. "Proper succession planning is Kent State University's Ohio Employee Ownership Center is...
- Research articles 2006-09-11
- SuccessFactors' Customer, Edwards Lifesciences, Featured in Workforce Performance Solutions' Succession Planning Webinar; BioTech Leader to Showcase Succession Planning Strategies, Best Practices to Maintain Competitive Advantage
- SAN MATEO, Calif. -- SuccessFactors, the leading provider of on-demand performance and talent management solutions, announced today that their customer Edwards Lifesciences, a leader in cardiovascular disease treatments, will be spotlighted in an upcoming Workforce Performance Solutions Magazine succession planning webinar. The online event, "Talent Management: Developing The Competitive Advantage,"...
- Research articles 2006-07-28
- Succession Planning: Are You Automated?
- Most companies know that succession planning is essential today, but very few have automated their process. According to a November 2006 Aberdeen Group report, only 7 percent of companies had a fully automated and integrated succession planning process. IT needs to recommend succession planning technologies that help senior managers make...
- Research articles 2007-02-15
- Leadership Succession Planning: Building Bench Strength Through Integrative Talent Management
- One of the main focus points of the March 9th HARRT Round Table was the growing disparity between the academic literature on Succession Planning SP and the every day challenges that Human Resource professionals face on this topic. HARRT members examined how the size and growth rate of organizations influence...
- White papers 2005-05-31
- Workstream Succession Planning Solution Is Selected by IAC/InterActiveCorp to Support HR Planning Processes for Senior Management
- OTTAWA -- Workstream Inc.TM (NASDAQ:WSTM), a provider of On-Demand Enterprise Workforce Management software, today announced that IAC/InterActiveCorp has selected Workstream's Succession Planning solution to manage the Company's HR planning processes for more than 500 key senior executives, including succession planning and leadership development.
- Research articles 2005-07-13
- CEOs Critical in Succession Planning, Study Finds
- The Find: CEOs play a key role in succession planning according to interviews with sitting executives, and there are plenty of things that can do to assist the transition to new leadership. The Source: A study by the Hay Group. The Takeaway: Sure the...
- Blog posts 2009-04-15
- 6 Succession Planning Myths...Debunked
- Of late, the topic of succession planning has sparked much concern. However, it seems few organizations have heeded the warning. According to a one study, fewer than 60% of companies have a succession plan in place. This paper sheds light on some of the most common myths about succession planning.
- White papers 2006-03-16
- Advanced Succession Planning: Next Generation Practices for Ensuring Your Organization's Future
- Over the past five years, the focus on succession planning in organizations has dramatically increased. WisdomNet defines succession planning as "An executive led talent planning process focused on creating a pool of high performance leaders to meet the strategic needs of the organization". It has been one of the fastest...
- White papers 2006-05-01
- Succession planning can determine practice funding.
- Byline: Darin Tyson-Chan Nov 20, 2006 (Money Management - ABIX via COMTEX) -- Jamie Melville says Australia's Macquarie Bank is more likely to invest in financial planning practices that have good succession plans in place. Melville was speaking at a succession planning forum...
- Research articles 2006-11-20
- Next In Line: Five Steps For Successful Succession Planning
- From the executive summary: ‘Succession planning, the preparation to replace one leader with another, is one of the most difficult challenges associations face in the era of organizational management. Few events in the life of an association are as critical, visible, or stressful as when the leader leaves. The eyes...
- White papers 2002-12-01
- Family Business and Succession Planning: A Review of the Literature
- Succession planning in family business is an issue of growing importance. These enterprises generate a significant proportion of the economic activity in many countries, and a majority of these enterprises are approaching the point where business owners will most likely be making serious decisions regarding their long term future. The...
- White papers 2004-07-01
