ADMS 3430 Lecture Notes - Lecture 7: Lijsttrekker, Formal Methods, Petro-Canada
11 Dec 2017
School
Department
Course
Professor
Document Summary
Importance of succession management the systematic process of determining critical roles with the organization, identifying and evaluating possible successors and developing them for these roles. Crucial due to baby boomers, retirements, turnover, need to transfer over corporate knowledge. Succession management is the process of identifying employees who have the potential to assume key positions in the organization and preparing them for these positions. Organizations with positive reputations for leadership brands end to outperform their peers. Organizations must prepare for expected and unexpected turnover, for key players die, retire and quit. Replacement planning: the process of identifying short term and long term emergency backups to fill critical positions. When a leader died or retired in the past there were formal methods but they have evolved over time and replaced with succession management by . Databases are integrated with succession managers working in strategic planning committees, performance management group and organizational learning and training functions. Steps: align succession management plan with strategy.
