Successionplanning: A Tool for Achieving Organizational Strategic Goals and Sustainability in Nigeria

Purpose:Getting an organization set for competition in today's work environment requiresthe logical ability to attract/retain and use talent people for sustainability and growth of organization. This paper aims at examining the practice of succession planning in organizations and its influence in organizational sustainability and strategic goals. Banks in Nigeria were used as a focus for the study.

Design/methodology/Approach: A descriptive survey of ten banks in Nigeria was adopted. Two hypotheses were formulated in accordance to the objectives. Theformulated hypotheses were tested and analyzed using Product Moment correlation coefficient.

Findings:The results reveal that there is a strong relationship between succession planning, organization sustainability and strategic goals. The researcher also recommend that organization should embed succession planning in their strategic goals and use it as a comprehensive change management tool that helps organizations identify gaps in talent and fill them more effectively.

Practical implications: Despite the need for further scientific and validated studies, organizations are urged to devote sufficient resources and attention towards succession to promote long term survival, prosperity, and organizational strategic goals.

Originality/value:This paper enlightens organization management in knowing the impact of succession planning on their continuity. The study is believed to have relevance on organization assessment or evaluation if taken into consideration. Paper type:Research paper (Empirical)