A STUDY ON SUCCESSION PLANNING AND ITS

Previously, the unexpected loss of an experienced leader without a timely replacement was extremely effecting the department. And just as Fibuch & Way (2012) suggested, the best solution to reduce those challenges is to cross-trained qualified employees within the organization for leadership roles. It is important also for organization to recognize and view their existing skill sets in terms of their future operations. Consequently, succession planning should be an essential element of organization's strategic

India has become a global conduit for business as they have liberalized their economic policies over the past 20 years. Companies are flocking to India because of many factors, including, less expensive labor costs, increasing growth rate, and an abundance of a highly skilled workforce. These factors in addition to other advantages have substantially increased the number of United States businesses looking to grow beyond the U. S borders into the county of India. Dunlop Software Consultant’s goal is to also expand its operations internationally and believes that India has the business environment to meet our goal of expansion globally.

Succession planning is critical for any business; therefore, I ensure we have processes in place, I always developed a share data base to ensure knowledge and best practices are transferred and as stated above, a detail development and training plan is provided to high potentials to prepare them to move

Succession, in simple terms, refers to the concept of recruiting competent staff members to carry on the work of an organization (Titzer, Phillips, Tooley, Hall, & Shirey, 2013). With retirement of long-term staff members comes the need for new workers who can carry the torch. Part of succession planning is developing the leadership potential of prospective candidates. As important as succession planning is to the long-term wellbeing of an organization, many obstacles stand in the way of this being completed. These can include egotism, insecurity, failure to plan for the future, inadequate resources, lack of clear positions, and constant change (Titzer et al., 2013).

3. What qualities enabled India to take center stage when the looming Y2K scenario generated unprecedented demand for programmers? What can other nations learn from India’s success in this realm? What are India’s greatest vulnerabilities?

This article is grounded in an evidence-based practice that reviews recent methods and research articles on succession planning. It is primarily focused on articles that are found to have numerous points of convergence regarding how succession planning should be practiced. Implications of practices are discussed, and a research agenda for succession planning practice is proposed. This may allow for recommendations to be given to the chairperson of the board in relation to succession opportunities, high potential leaders, and other tools that will assist in the succession process. Empirical data based on solid research may help the chairperson understand the necessity of succession planning and management, along with the benefits of this practice.

580) is the “attempt to plan for the right number and quality of managers and key-skilled employees to cover retirements, death, serious illness or promotion, and any new positions which may be created in future organization plans’’. The authors in their study concluded that “It is important to highlight the link between knowledge management and succession planning because it can cause immense direct and indirect costs” (Durst and Wilhelm, 2012). As such, this forces organizations to ensure that the organizational knowledge is accessible, and flows to the individuals needing the information to accomplish tasks. Knowledge management, therefore, becomes the mechanism by which succession planning can be facilitated to ensure that knowledge flows, becomes accessible and at the same time,

The fact that IT sector in the country has increased at an incredible rate of 35% per year for the last 10 years reinforces the view that India is world class in IT. The contribution of IT sector to national GDP will be around 8.5% during the year 2010-2011. The IT sector revenue is expected to increase from Rs 1276 billion in 2004-2005 to Rs 6435 billion in 2011. Availability and adequate supply of skilled and knowledgeable workforce and the quality of infrastructure is critical for the growth of IT in India. The IT sector is one of the largest employers of women, and therefore, can play a crucial role in women empowerment and the reduction of gender inequalities. As per NASSCOM (2010) estimates, women comprise 30-35% of the entire workforce in the IT sector. The number of software professionals has been growing continuously over the years. There is 60% increase in the number of women employees working in the Indian IT sector from 2006-2008 of the entire workforce of 400 million working in the IT sector, 30-35% is female and among them 20% work in urban India(NASSCOM 2008).

Leaders are conceptual thinkers and must think in the abstract. Decisions made by leaders are non-programmed decisions, which have never been made before, in respect to the direction in which the leader intends to take the organization into the future. The leader is hired by the Board of Directors (BOD) to maximize the wealth of the stockholders whom they represent. The leaders planning horizon is generally three years and beyond, depending on the employment contract signed. The BOD reserves the right to fire the leader at any point in time, during the contract period; they

Information Technology is mixed with contractors and full-time employees. Most of the critical IT software application development contracted to offshore an Indian company. Though, the majority of IT development is handling from India it also has significant size of IT development centers in the USA and small IT development centers in London, UK and Malaysia for fulfilling contingent local

Although Duke Energy has successfully grown and endured many transitions over the past one hundred years, the company faces some serious issues that could be fatal to the company’s continued success. The company has recently lost and is expecting to lose even more of its most knowledgeable and dedicated employees, which is mostly due to the increasing age of the company’s workforce as most of the workforce is reaching the age of retirement. This paper seeks to illuminate the importance of succession planning, makes every effort to provide the best solutions for implementing a succession plan, and provides recommendations to help the human resource department at Duke Energy avoid the harmful effects that

The FAA, like other government agencies are under extreme budget cuts and sequestration. Adopting a Lean Framework for Succession Planning is paramount. The methodology used in previous successful programs that were adopted by agencies at a low cost to the organization followed a five-step process. In this proposal, we follow the same five-step process for implementation:

|Answer : The Indian IT industry has been the great success story of India's liberalisation. Starting with an export of around $100 million and |

The telecommunications industry in India has experienced dramatic growth in the last decade. In 1991 the number of telephone lines per 100 people was only 1. However, by the end of 2004 that number had increased 9 times. Along with this, the telecom industry now provides employment to about two million people. The industry turnover in this field expanding and is currently around $13 billion. The U.S. mainly participates by selling equipment to Indian companies and by investing in such companies. They also outsource many of thier tech support employment positions to India. India’s information technology and IT-enabled services industry is a major force in India’s booming economy, achieving double digit growth rates and an industry revenue expected to top $28 billion. To add to this growth, the Executive Committee on Information Technology works closely with NASSCOM, India’s largest software association to promote industry-wide growth and market regulation. On another technological path, the broadcasting entertainment industry is yet another booming industry among those that make up India’s economy. With over 100 million household televisions, and nearly 60% of these households using cable or satellite TV, there are nearly 40,000 cable service providers in India. The sector has benefited from a light regulatory system, even though this has also caused a great deal of piracy and

Succession and Talent Planning. The company encourages succession planning. I don’t know the degree of detail this goes to at the upper levels, but it appears to be a priority. I am not aware of any formal succession