Succession planning is crucial for long-term success because it ensures that the right leaders are chosen should a sudden change occur.
Failing to create an effective succession plan can be detrimental to your organisation. Such consequences may include power struggles, toxic workplace culture, and clients losing faith in your business’s ability to serve them at the level expected.
So to prevent these setbacks from happening, succession planning is needed.
Succession planning is a process that helps to identify and develop employees to fulfil responsibilities of certain roles within the organisation. This process helps to ensure the business continues to grow and flourish.
With that said, here are 10 benefits of Succession Planning.10 Benefits Of Succession Planning