Effective Succession Planning: Panacea to Organisational Growth, Development, and Continuity

Abstract

This paper looks at effective succession planning in Nigeria organisations as a panacea to bringing about sustained growth and development to the continent. The economic growth and development in the country has over the years been given less attention by some organisation leaders in Nigeria, particularly in the area of social responsibilities. Over the past few years, there has been growing research interest in the competitive advantage associated with succession planning-a set of management policy and practice thought to endow employees with greater levels of skills, information, motivation and discretion. Future leaders, therefore must be identified, trained and prepared for the challenges of present-day competitive global markets. However, the literature suggests an effective and standardised succession plans for these leaders and senior leaders are often faced with the complex issue of how to develop and validate the competencies required for these leadership roles. In the absence of an effective succession plans, therefore, creating a leadership development programme, which provides a pipeline for new executive leaders, would alleviate this gap, and the motivating force is an effort to promote current talents and provide a higher level of competence. In analysing this succession trend, therefore, the researcher concludes that total synergy, teamwork and balanced approaches by management effective succession plans will enhance organisational growth, development and continuity in this 21^st century competitive business world.