Succession Management - Research Paper by Mbahoric

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Succession Management Essay

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Below is an essay on "Succession Management" from Anti Essays, your source for research papers, essays, and term paper examples.

Future Focused: Avoiding a Leadership Role Crisis
How Companies Plan for Future Leadership Voids through Succession Management

August 4th, 2010

Abstract
This paper will discuss several key areas that fall under the umbrella of succession management. The discussion will focus on how companies plan for future voids in leadership through succession management. Succession management is a multi-tiered task that begins with identifying and monitoring key positions within an organization, and then ensuring that the organization has the internal bench strength available to fill those key positions consistently over time. The objective of succession management is to reduce the negative effects of unavoidable turnover while working to retain existing valuable talent through a focus on employee development. Succession management ensures that employees are recruited and developed to fill each key role within the company and ensures these key roles are filled from within the organization. Specifically, this paper discusses the reason for increased company interest in succession management as well as best practices, errors to avoid, developmental activities and metrics associated with succession management. Succession management is an important Human Resource (HR) topic since it is one component of a high performance work system. As the global workforce ages and economic volatility abounds, employee turnover is on the rise. Companies that can withstand the unpredictability and maintain a strong talent base through effective succession management will gain the greatest competitive advantage. In writing this paper, more insight is expected to be gained into the best practices and failures as it pertains to succession management.

Future Focused: Avoiding a Leadership Role Crisis
How Companies Plan for Future Leadership Voids through Succession Management

Overview of Succession Management
Succession management involves having senior executives...

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Succession Management. Anti Essays. Retrieved November 23, 2017, from the World Wide Web: http://anties.wressy.com/free-essays/Succession-Management-120117.html