What does Succession Planning involve?

Succession planning is a strategic process aimed at identifying and developing future leaders within an organization to ensure a smooth transition when key personnel leave or retire. This process involves recognizing individuals with the potential to fill critical roles and then providing them with the necessary training, mentorship, and development opportunities to prepare them for those positions. By focusing on building a strong internal talent pipeline, organizations can safeguard their leadership continuity and reduce disruptions caused by unexpected vacancies.

In contrast, dividing job responsibilities pertains more to task allocation and organizational structure than to the proactive development of potential leaders. Creating new job positions focuses on organizational growth or restructuring rather than succession and leadership readiness. Conducting employee performance reviews is a feedback mechanism to assess current employee contributions and performance, but it does not inherently deal with the future development of leaders specifically aimed at succession planning.