Succession Planning Insights is a course that explains how succession planning involves identifying business-critical jobs within an organization and developing employees to fill these roles in the future. The aim is to ensure that the business continues to run smoothly when current staff are promoted, move on or retire. Succession planning is important for retaining internal company knowledge, identifying skill gaps and training needs, and investing in employees. The process helps identify employee skills and qualities and ensures continuity and smooth transitions. Succession planning should be integrated into an organization's broad, long-term projections. In this course psychologist Peter Quarry talks with Ann Sherry, former CEO of Carnival, about the importance of succession planning and what it involves.
Use succession planning at all levels (not just senior management level);
Identify how key jobs will change in the future;
Identify key roles and the skills required to do them successfully;
Identify potential successors and their development needs;
Ensure a transparent process;
Implement a fair and robust selection process that avoids favoritism;
Avoid common mistakes made in succession planning;
