Succession planning

What is Succession Planning?

Learn about Succession planning with Ek hee Raasta

Movie Case Study

The above scene shows Mehra, an employee who has 13 years of experience trying to train another employee. He is teaching him how to lift the tray and serve customers. Mehra goes on to say that he was the head waiter at the Taj.

In this blog, Learning Perspectives will explore the meaning of succession planning.

What is Succession Planning?

Succession planning is generally conducted for a leadership position. It involves shadowing the person who is already in a leadership position and following in his footsteps. Similar to the scene we saw.

It is sometimes termed replacement planning too. Succession planning involves cross-training. This is done to ensure that when they leave, the job can run smoothly and the transition is easy.

How does Succession planning work?

Companies look both outside and inside for potential talent. If there is an internal candidate that seems suitable for a leadership position, then he/she is groomed for this position. They are trained through a blueprint that is specifically drafted for them. Sometimes key leaders leave unexpectedly. In the event of such cases, an emergency succession plan is created.

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Board of directors and CEOs form part of succession plans too. They typically oversee these plans. As succession plans affect the shareholders too. It is important. Large businesses start grooming mid-level managers for them to take up the role someday.

If an employee is recruited from the outside pool of candidates. He/She should be an experienced candidate with many years of experience in a key role.

Advantages of Succession Planning:

Succession Planning gives the following benefits:

Training and development

Succession planning promotes and advances the training of an employee. This ensures the lateral movement of an employee in an organization. This opens up new opportunities for the employee. It involves mentoring, coaching, guiding, and shadowing.

Protection from Unexpected Changes

Succession planning is conducted to make the company more resilient. Many times unexpected changes occur in the organization. A Leader may resign, die or abscond. Organizations should be ready to handle these changes. Succession planning is instrumental in dealing with such changes. Successful succession planning would ensure the availability of a replacement.

Transfer of Knowledge

When experienced employee leaves the business, they have within themselves an ocean of knowledge. Succession planning helps in stopping this draining of knowledge and ensures a smooth transition.

Process Refinement

Succession planning gives an opportunity to refine the processes that exist. It opens paths to question the existing processes and make them better.

Long-term planning

A succession plan can be closely aligned with the long-term strategy of the business. It should answer questions related to growth, business expansion, and innovation.

Understand Succession Planning with a Video

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