Importance of Succession Planning
- Succession planning helps when there is a sudden need arises due to reason or retirement of a key employee.
- Individual employee comes to know in advance the level to which he can rise if he has the ability and aptitude for it.
- Individual employee or successor feels happy when he feels that organization is taking care of his talents and aspirations.
- Succession planning helps create loyalty towards the organization and improved motivation and morale of individual employees.
- Organization gains stable workforce and low employee turnover.
- Ultimately organization becomes successful in accomplishing its goals effectively.
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