Succession Planning

Ramsha Yaseen Kapadia | 12707 | Student

Muhammad Aaqib Arain | 13301 | Student

CBM | Institute of Business Management | Karachi

Spring Semester 2014

What do you get by these pictures?What difference can you spot?

What is Succession Planning?

How is Succession Planning linked to Talent Management?• Death comes unforeseen• Talent comes and goes with the person• In order to preserve a talent, one needs to keep a backup• Retaining the exact talent is rare, but talent similar in nature can be easily found

with the help of Succession Planning

Still did not get the what a Succession Plan is?• Here is another example:

Our very own dean of IoBM gets an attractive offer from IBA. He decides to resign from IoBM as the Dean and join IBA instead.He was responsible for a lot of critical decision making and planning tasks, without which things can fall out of the efficiency zone.IoBM will try to retain the Dean, but in case it fails to, it needs to have a successor as competitive and good as the preceding dean so that things do not fall out of control.For that, it will have to rule out and evaluate the potential candidates who can replace him, before hand. Hence, it is a Proactive Approach.

Nurturing the internal talent Vs. Awareness about the company

• Training and Development Programs

• Secondment

Succession Planning Programs

Successors

• Informal v/s formal approach

• Competencies

• Openness, fairness and diversity

Video Time

The Role of HR• Supports CEO or line managers

• Information of potential candidates

• Advice individual for career development

Thank You For Your Attention and Participation!=D