Talent is a scarce resource with the level of competition and generational shifting of the workforce leadership pool has made it increasingly difficult for organizations to find the quantity and quality of leaders needed to ensure success. At the same time, the torrid pace of change in the marketplace is making for an uncertain future, leaving many at a loss as to who they should even be looking for in the first place, in such situation it is the carefully planned succession planning that can help organization to survive and sustain. The workforce needs to be realigned with the roles and goals of the organization. Understanding the relevance of effective talent management, talent reservoir and pool building one strongest source ad outcome of effective talent management lies in effectiveness of succession planning. The present paper attempts to understand the role of succession planning in effectual talent management with reference to how succession planning should be effectively planned, communicated, matched with intrinsic and extrinsic rewards to reap the multi fold benefits of effective talent sustenance. The research is descriptive in nature where based on available literature and current practices across organization the objectives are been understood. The observations and inferences drawn helps in understanding how to remain competitive and utilize resources effectively in context to talent management.
Talent Management, Succession Planning, Replacement Planning, Talent Sustenance, Competitiveness
