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  • Contemporary HR Issues (Succession Planning) (May 2009) : By-Bishwajeet Jha (23) Geethika Reddy (22

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    Succession planning identifies and develops internal talent for key leadership roles to ensure the long-term success and health of an organization. It improves employee retention, lowers recruitment costs, and fills top positions from within rather than externally. For example, when KV Kamath groomed Chanda Kochhar to succeed him at ICICI, it led to Shikha Sharma leaving to join another bank, demonstrating both the benefits and drawbacks of succession planning.

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    Succession planning identifies and develops internal talent for key leadership roles to ensure the long-term success and health of an organization. It improves employee retention, lowers recruitment costs, and fills top positions from within rather than externally. For example, when KV Kamath groomed Chanda Kochhar to succeed him at ICICI, it led to Shikha Sharma leaving to join another bank, demonstrating both the benefits and drawbacks of succession planning.

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    17 views6 pages

    Contemporary HR Issues (Succession Planning) (May 2009) : By-Bishwajeet Jha (23) Geethika Reddy (22

    Uploaded by

    Bishwajeet Jha
    Succession planning identifies and develops internal talent for key leadership roles to ensure the long-term success and health of an organization. It improves employee retention, lowers recruitment costs, and fills top positions from within rather than externally. For example, when KV Kamath groomed Chanda Kochhar to succeed him at ICICI, it led to Shikha Sharma leaving to join another bank, demonstrating both the benefits and drawbacks of succession planning.

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    Contemporary HR issues (succession planning) (May 2009)

    ByBishwajeet Jha(23)

    Geethika Reddy(22)

    Succession Planning..!!
    "Succession planning" is a process for identifying and developing internal people with the potential to fill key leadership. It is planning for the long term organizational health.
    Succession planning can be either beneficial to you or your competitors.

    Benefits
    Improve the retention of employee. Lower the recruitment cost.

    Unlike PSUs, in private organizations this is done with an intention to fill up the top position of any organization.

    An example 4 this issue..


    K V Kamath who is now a chairman of Infosys and non executive chairman, former MD & chairman of ICICI made a succession planning for Chanda Kochhar which made Shikha Sharma to leave the organization and join UTI bank in the year 2009.

    Versus

    Human resources are the greatest assets of any company. You can raise tariffs or prevent MNCs from entering, but one can't stop the good employees from leaving if they are dissatisfied

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