The Effects of Succession Planning on Employee Retention

6054 Words Mar 3rd, 2013 25 Pages
The Effects of Succession Planning on Employee Retention
By:
Faisal K. Qureishi, Iqra Univesity

Sana Yazdani, Iqra University

ABSTRACT
This study has been carried out to explore whether any relationship exists between Succession Planning and Employee Retention. The way information is circulated regarding the process of succession, plays a very important role in how the employees will perceive these changes and how they will react to them, which in turn will affect their job outcomes. For this purpose, four banks: SCB, RBS, MCB and UBL were chosen, taking 25 employees from each and collecting data through a structured questionnaire. For testing hypotheses the Correlation Model was used to identify the influenced factors based on the
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As Succession planning is a core part of an organization’s ability to decrease risk, create a verified leadership model, smooth organization continuity and improve staff self-confidence (White, 1987). Succession planning has become really important for managers and executives in the current business world because, now they have begun to understand the importance of securing their companies eventually by selecting future leaders (White, 1987).
Succession planning considered to the higher concern to make the right decisions. They must put their self into strategic and planning form to choose the best leader (Jr., 2003).When it comes down to the decision about the succession plan an executive should identify the requirements and needs of the business that what would be the strengths and weaknesses so an executive will know what kind of person they would need on the considerable situation which will lead the company on the succession path (White, 1987).
The basic element in transition is well transparency as it applies on every company the employer should take step to communicate

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