“Succession planning” (also referred to as Succession Management) is a systematic approach that ensures efficient and effective operational continuity through replacement planning on roles that are considered critical for the business. Succession planning is essential for the business as it helps in defining successors in an organization, including the leadership pipeline, technical roles, and business professional roles. Typically, succession planning is a formal process for senior leaders and is done as needed for critical job roles, critical job functions, and during mergers, acquisitions, and major reorganizations.
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