Succession planning merits
Today's workforce comprises of at least four generations spanning over 60 years according To Martha Crumpacker and Jill Crumpacker (2). By properly planning the succession in a company, the company is able to cultivate its preferred organization culture (Martha Crumpacker and Jill Crumpacker 2007, 2).
Secondly, investors react in a particular to the succession of top management. According to Shen, W. et al 2003 (191-198), CEO succession influences shareholders' wealth. The exit of an apparent heir is positive while an exit sparks negative reaction.
Thirdly, planning for succession helps the company to prepare itself for retirement of senior staff. In this case, organizations have to fill the opening with qualified personnel (Rothwell WJ 2010). When the vacant positions are filled by promotion from within, it ensures organization leadership continuity (Rothwell WJ 2010).
Balthazard, C, And Robinson, S, 2011. The Role and Future of HR: The CEO's Perspective.
H R P A | K N I G H T S B R I D G E
Shen, W., Canella, A.A. 2002. Will Succession Planning Increase Shareholder Wealth?
Evidence from Investor Reactions to Relay CEO Succession. Strategic Management Journal, Vol 24 Issue 2, Pp. 191-198.
Crumpacker, M., Crumpacker J.M., 2007. Succession Planning and Generational Stereotypes:
Should HR Consider Age-Based Values And Attitudes A Relevant Factor Or A Passing Fad? Public Personnel Management. Published 2007
Ashton, C. And Morton, L. 2005. Managing Talent for Competitive Advantages: Taking A
Systematic Approach to Talent Management. Strategic HR Review Vol 4 Issue 5, Pp. 28-31.
Farndale, E., Sparrow, P. 2010. The Role of the Corporate HR Function in Global Talent
Management. Journal of World Business Vol 45, Pp. 161-168
Rothwell, William J. Effective Succession Planning: Ensuring Leadership Continuity And
Building Talent from Within. AMACOM Div American Mgmt Assn, 2010.
Cite this page
Talent management is explored on the perspectives of talent competition and mobility (Elaine Farndale and Paul Sparrow 2010, 161-168). Talent competition explores the mechanism laid in place in an organization to compete for top talents in the job market. Mobility looks at the individual's willingness to be on the move, especially in new markets and the capability to manage these newly recruited talents (Elaine Farndale and Paul Sparrow 2010, 161-168).. (2022, Mar 09). Retrieved from https://speedypaper.com/essays/talent-management-is-explored-on-the-perspectives-of-talent-competition-and-mobility-elaine-farndale-and-paul-sparrow-2010-161-168-talent-competition-explores-the-mechanism-laid-in-place-in-an-organization-to-compete-for-top-talents-in-the-job-market-mobility-looks-at-the-individuals-willingness-to-be-on-the-move-especially-in-new-markets-and-the-capability-to-manage-these-newly-recruited-talents-elaine-farndale-and-paul-sparrow-2010-161-168
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