succession planning
/səkˌsɛʃən ˈplænɪŋ/ · suc-ces-sion plan-ning
noun
- The process of identifying, developing, and preparing a person or group to take over a leadership role or position within an organization, typically to ensure continuity and minimize disruption. The company's HR department is responsible for succession planning to ensure a smooth transition of power when the CEO retires.
noun
- A plan or strategy for the transfer of leadership or ownership of a business, organization, or other entity. The family's succession planning included a gradual transfer of ownership and control to the next generation.
Synonyms
planning for the futureleadership developmenttalent managementorganizational developmentsuccession managementplanning for successionsuccession strategy
Antonyms
Did you know? Succession planning is often considered a key aspect of effective organizational management, as it helps to ensure continuity, reduce uncertainty, and promote long-term success.