Performance Management Systems and Strategies

DIFFERENCE WITH SUCCESSION PLANNING

Succession planning involves identification of likely vacancies for higher level executives and locating likely successors to man such vacancies. Career development on the other hand covers employees at all levels including executives in an organization. Succession planning in reality, therefore, is management development initiatives for the executives. Career development programme normally considers likely career progression in a given occupation, while succession planning chart is a ‘runner up chart’ for higher generalist positions like general manager, managing director, etc., who may be groomed up from different specialist positions like marketing, production, personnel, finance, etc.