SUCCESSION PLANNING AND ITS EMERGING ISSUES IN TODAY’S DYNAMIC ENVIRONMENT: AN EMPIRICAL STUDY

Abstract

Succession planning plays a crucial role in today’s competitive environment. Escalation pool of talent has major contribution in organizational growth. Thus, identification and development of talent is a necessity for overall development of every organization. The aim of this study is to help organizations to know the importance of succession planning and various challenges of succession planning. This research is tried to cover many aspects of succession planning like organizational survival, strategic planning, prepares future leader, a necessary process in today’s organization, challenges, and organizations performance. This present study showed that succession planning helps organization to survive for longer span of time; it has positive impact on organizational performance; it has positive relationship with strategic planning; it is a necessary process for organizations to motivate and create competent and stable workforce; organizations face many challenges in implementing succession planning, so organizations must be capable enough to make effective succession plan; and it also assists organizations in identifying and preparing future leaders. KEYWORDS: Succession Planning, Organizational Survival, Strategic Planning, Future Leaders, Challenges, Organizations Performance.