The Possible Contribution of Succession Planning to Organizational Performance

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The Possible Contribution of Succession Planning on Organizational Performance Introduction Succession planning, which is often also referred to as knowledge management, is one of the ways in which information is kept within an organization even though the people who work within that organization come and go. Those who make policies in business, and those who make policies that assist other businesses, have started encouraging businesses in recent years to learn to help themselves through succession planning and the management and transfer of knowledge, specifically between people who are leaving the organization and people who are just entering that organization (Dyck, Mauws, Starke, & Mischke, 2002). One of the reasons for this encouragement is due to the fact that an adjustment of roles through the transferring of knowledge is an important way to help any business move through a change of ownership or simply a shift when a long-time employee leaves the company. Ownership is often not the issue, but management and other developed skills are very significant when a person is trying to ensure that another person clearly understands the job which he is taking over and will be performing in the future (Dyck, Mauws, Starke, & Mischke, 2002). Many businesses do not have any serious plans as they relate to succession, and that can be detrimental to the entire organization. The decision-making that would generally take place is disturbed when people leave the company but do
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