planning for succession
/səkˈses.ʃən ˈplæn.ɪŋ/ · sukses·shən ˈplæn.ɪŋ
noun
- The process of identifying, developing, and preparing individuals to assume future leadership roles within an organization. The company's HR department is responsible for succession planning to ensure a smooth transition of power when key executives retire.
- A plan or strategy for identifying, developing, and preparing individuals to assume future leadership roles within an organization. The company's succession planning document outlines the steps to be taken to identify and develop potential leaders.
verb
- To identify, develop, and prepare individuals to assume future leadership roles within an organization. The CEO is succession planning by mentoring a team of potential successors.
Synonyms
leadership developmenttalent managementorganizational developmentsuccession managementleadership succession planningexecutive succession planningsuccession readiness
Antonyms
Did you know? Succession planning is a critical component of organizational sustainability, as it ensures that key roles are filled with capable and prepared individuals, reducing the risk of leadership gaps and maintaining business continuity.