scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,395
Today companies exist in a modern and global age a dynamic and continually evolving environment where businesses need to plan ahead One growing human resource issue of senior management is succession planning An on-going process largely concerned with the identification assessment and development of tomorrows leaders Kim 2003 p1 its focus is on the future performance of the firm Its usefulness as a key strategic planning tool has long-term implications for human resource activities including an organisations culture recruitment and selection employee learning and development To begin with a changing workforce is one factor that emphasises the need for succession planning Currently organisations find themselves faced with the problem of having a retiring baby boomer generation managers who move to other firms and young employees with not enough experience Yet succession planning can be used as a means to avoid having unprepared employees fill executive positions For example like Tiverton Media and The Singing Sinatras which both had an understudy for every major executive role Cespedes and Galford 2004 p32 companies that implement a similar plan will be more proficient in handling unexpected circumstances Precautionary planning is essential to achieving leadership continuity eliminating premature promotions and enables a smooth transition Kim 2003 of the heir apparent Planning can also be beneficial to determine lateral job movement eg to different functions project teams or geographic locations as well as executive replacements Kim 2003 p2 Although a possible short-term downside is the time consuming nature and cost of succession planning associated benefits may include long-term flexibility efficiency productivity and competitive advantage as well as lower staff turnover and higher morale As Cornings human resources director states it can be seen as a value-added process Leibman et al 1994 p2 Succession planning can identify the strengths skills and core competencies of talented employees which will ultimately complement the corporate culture of a firm Such values beliefs and vision require potential candidates to share the objectives
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA