The Nuts and Bolts of Succession Planning

Most managers know that talented people are hard to find. If managers try to replace current employees, they often find that recruiting comparably-qualified employees from outside the company may cost much more than keeping current employees. Succession planning is about filling the organization’s talent pipeline and building internal bench strength. It is about leveraging the talent that the organization already possesses by developing it to full potential. But how is succession planning different from replacement planning, talent management, and succession management? What model summarizes the essential elements of a succession planning program?This Dale Carnegie® white paper addresses these questions. It also provides readers with several simple tools to facilitate replacement planning and succession planning.