Abstract
This conceptual study aims to explore the evolution of succession planning by focusing on a systematic procedure and highlighting the instrument of success metric that influences succession planning effectiveness. There are several approaches to discuss the succession planning process and the effectiveness of the used methods. However, no single systematic process applies to the entire organization. Besides that, this research includes a literature review, focusing on key success metrics of succession planning. The metrics used to track succession planning effectiveness should be directly related to the organization’s strategic goal. Therefore, the metrics must be clearly defined and articulated as part of the organization’s formal succession plan. This study reveals three key success metrics of succession planning: (1) bench strength, (2) time-to-fill, and (3) talent turnover. A good success metric indication will allow a company to analyze the impact of a succession plan in retaining talent in the pipeline as a proactive strategy.
Highlights
1.1 Research BackgroundFilling vital executive leadership positions with qualified and motivated candidates is not an2022, Vol 12, No 1 easy task for many organizations (Chang & Besel, 2020)
This study reveals three key success metrics of succession planning: (1) bench strength, (2) time-to-fill, and (3) talent turnover
The succession planning process primarily focuses on identification and development, with little attention paid to the evaluation phase, in terms of success metric measure
Summary
Filling vital executive leadership positions with qualified and motivated candidates is not an. A systematic process of succession plans was most effective when it was designed within an evaluation framework, education, and growth plans in order to measure progress and success, as well as provide any evidence to support changes to the succession planning process and leadership development (Abdellah, 2021). This systematic process has an impact on the organization’s succession plan, which aims to create future leaders. The succession planning process primarily focuses on identification and development, with little attention paid to the evaluation phase, in terms of success metric measure
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