Systematically identifying, assessing, and developing talent to ensure the leadership continuity for all key positions in an organization. Why have a succession plan?

	Assists in developing employees and preparing them for future achievement
	Ensures continuity of leadership
	Ensures continuity of culture
	Helps in assessing a company's talent pool
	To retain key talent and make an organization more attractive to job seekers
	Helps to translate business strategy into specific organizational capabilities to support future success

How it helps organizations...
	Engages senior management in a disciplined review of leadership talent
	Guides development activities of key executives
	Brings selection systems, reward systems, and management into alignment with the process of leadership renewal
	Assures continuity of leadership
	Prevents premature promotion

Succession planning should be...
	Customized to the organization
	Focused on future strategy and culture
	Driven by top management
	Based on objective multi-rater assessments
	Focused on development, horizontally as well as vertically