Abstract
Succession planning is a better alternative to downsizing in a company that aims at effective long-term staffing options. It saves the company not only in economic terms but also on the negativity associated with staff layoffs and firing for economic reasons. Succession planning is more of an internal company affair, and it involves an institution identifying the types of management and skills needed in positions at the various operational levels. The human resource department is instrumental in formulating an effective succession plan by identifying the positions and the candidates. Over time, employees of an organization gain skills and experiences Continue reading...