What is Succession Management

The chapter present a practical guidance based on four simple-to-use models of developing a succession plan. It also highlights current best practices of succession planning based on literature. Succession planning is a critical leadership tool for organizational growth and sustainability; it alleviates substantial gaps in organizational knowledge and leadership through strategic replacement of key personnel. Using succession planning as a developmental tool will allow the organization to determine what and whose knowledge is most important to capture and help them to identify critical positions. It is very important for organizations to grasp the meaning of succession planning before implementing a succession plan as a developmental tool for organizational sustainability. Based on the definitions of succession planning, this chapter defines succession planning as a proactive approach to managing talent, and the development of a leadership pipeline to meet an organization's need-based demand for sustainability.