succession planning

  

Definition

Identification and development of potential successors for key positions in an organization, through a systematic evaluation process and training. Unlike replacement planning (which grades an individual solely on the basis of his or her past performance) succession planning is largely predictive in judging an individual for a position he or she might never have been in.

Use succession planning in a sentence

  • To fully maximize your time and resources you should be good at succession planning to get the most out of both.

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  • Our company had some ideas for succession planning that would allow many of the younger people to have leadership roles to ensure a profitable future.

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  • Being able to quickly identify new trends will help you in your succession planning for your new projects and ventures.

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