Succession plans that are well developed and communicated
to key executives will increase retention in the c-suite. Because high-potentials recognize that time;
attention and skill development is being invested in them these potential
leaders are less likely to seek opportunities outside of the organization.
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Succession plans and the development of leadership talent is an investment that requires time. A working succession plan may result in having more than one skilled executive available for a key job. HR’s role is to provide choices, options and a plan that is performance based.