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Succession planning plays a crucial role in securing a company's future by ensuring a consistent inflow of talent who are capable of stepping into key roles as needed. It helps in identifying and developing potential leaders who can replace old leaders when they leave, retire or die. This strategy helps in reducing the risk associated with changes in leadership and ensures smooth transition.
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Once a clear understanding of the current workforce's composition is established, next is to secure the company's future through succession planning. This strategy opens the path for a consistent inflow of talent who are capable of stepping into key roles as needed. Tools like the nine-box grid categorizes employees based on their performance and potential, highlighting those suited for leadership roles.
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What are the best methods to manage your talent pool at all times? Use this Workforce Planning presentation to align human resources with evolving mar...
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