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Kalindu Witharanage
Reg. No. 07SKCM6087
• Three types – a. Management succession planning
b. Business succession planning
c. Family Business succession planning

• Process of identifying and preparing suitable

employees through mentoring,training and job rotation
to replace key players.

“Succession planning is a process by which one or

more successors are identified for key posts and
career moves and/or development activities are
planned for these successors”. Successors may be
fairly ready to do the job or seen as having longer
term potential. – By Wendy
• A succession plan clearly sets out the factors to be
taken into account and the process to be followed in
relation to retaining or replacing the person.

• Succession Planning involves having senior

executives periodically review their top executives and
those in the next lower level to determine several
backups for each senior position.

• Business succession planning involves planning for

the smooth continuation and success of a business
which depends greatly on the availability of competent
• Be it profit or non-profit organization, one of the
concerns is there may be no successor to drive it once
the leader or key person leaves – either by choice or
by circumstances.
• Without succession planning, a business that has
become successful can just as easily fall.
• There are two main options available to business
succession planning, which are:
1.Retention Planning: Retention of the
business within the family circle; and
2.Buy-sell Planning: Selling of the
establishment to other business owners or
key employees or interested outsiders
Family Business Succession Planning

• Due to the complexities surrounding the

transfer of ownership of family businesses
from one generation to another, specific
resources have been developed for family
business owners planning for this
• Ensuring continuity, avoidance of problems of
transition which hamper both individual and
organisational performance and effectiveness.

• Provide an added impetus to growth of

employees with high potential and good
performance in the organization.

• It facilitates in building teams and optimizing

their performance by emphasizing on strengths
and weaknesses of the team members.
• It ensures a direction to HR systems of Training &
Development and Talent management.

• It facilitates in optimizing performance across the

• Succession planning is a part of
company’s annual strategic plan.

• Indian corporations have realized the

importance of succession planning for the
top position.

• It requires continuous planning by HR

managers and the support of the top
• No succession planning can be complete
without involving the women in the family
and setting up specific structures to
resolve their differences.