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Exploring and designing an appropriate succession planning model

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This research study focuses on exploring the most appropriate succession planning process and thereby designing an industry-specific model. | Exploring and designing an appropriate succession planning model International Journal of Management IJM Volume 9 Issue 6 November- December 2018 pp.54-60 Article ID IJM_09_06_005 Available online at http www.iaeme.com ijm issues.asp JType IJM amp VType 9 amp IType 6 Journal Impact Factor 2016 8.1920 Calculated by GISI www.jifactor.com ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication EXPLORING AND DESIGNING AN APPROPRIATE SUCCESSION PLANNING MODEL Dr. Revathy Shivashankaran Assistant Professor School of Commerce and Management Studies Dayananda Sagar University Bengaluru Karnataka India. Dr. Anni Arnav Assistant Professor School of Commerce and Management Studies Dayananda Sagar University Bengaluru Karnataka India ABSTRACT quot Building a deep leadership pipeline is a priority for any progressive and growth- driven organisation as it is a critical element towards building a lasting institution which outlives its founders. quot As rightly said by Rituparna Chakraborty Co-founder and Executive Vice- President TeamLease Services Succession Planning is one of the major concerns of today s business organizations. Succession planning is a talent management process that builds a pool of trained workforce who are ready to fill key roles when leaders and other key employees step down. Succession planning relies on a large pool of talented workforce ranging from entry-level to senior leadership who are being prepared for key roles. These employees have the right skills energy and leadership qualities that will benefit the company across a spectrum of roles departments and seniority levels. Organizations with succession planning programs in place foster a talent-oriented culture by recruiting skilled employees and top talent. Once recruited businesses focus on developing these employees skills expertise and knowledge so they are prepared to take on leadership roles in the event of organizational growth talent loss or management turnover. This research study