Efficient Succession Planning-A Key to Business Success

Today's environments are changing rapidly that organizations are facing serious unpredictability and uncertainty, which sometimes causes instability in the business operations. In this unstable environment, organizations need to rely on the most important assets: their people. Organizations need to strategize to motivate and connect their employees in order to create competitive advantage and achieving higher profitability. Organizations may consider methods like succession planning and management to promote their employees ’knowledge, skills, talents, and capabilities to tackle problems created by the challenging environments. The purpose of this paper is to provide a general view in succession planning and management by reviewing the most relevant researches in this field. This comprehensive review is useful for organization managers to select and tailor succession planning approaches which best suit their organizations. In particular, this paper will benefit researchers who are interested in studying succession planning and management.