No Tags Found!


abedeen7
135

“Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions.”

It is the need of the day to retain & develop the existing workforce to promote them to higher positions. There is a war for attracting & retaining talent In NBFC, MFI, BFSI, Hosing Finance & Small Finance Bank for BM, UM, RM & TM positions. The recruitment goes round the years, which also incurs huge cost & loss of business.

To gain a competitive edge, we need to have a concrete strategy & plan for developing & moving to a higher level. It could be a mix with a ratio of 75:25 hiring internally & externally.

The role of HR is to have a succession strategy and implement & measure the effectiveness of the process for optimal outcomes.

From India, Bhubaneswar
Attached Files (Download Requires Membership)
File Type: png Sucession planning-1.png (40.7 KB, 48 views)

Dinesh Divekar
7879

Dear Abedeen,

HR professionals always confuse career planning and succession planning. It appears the post originated out of confusion. To clear up the confusion, let me provide you with two web links. These are as below:

https://keydifferences.com/differenc...-planning.html

https://www.tutorialspoint.com/talen...20organization.

Thanks,

Dinesh Divekar

From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.