Succession planning is a strategic process that organizations use to ensure they have qualified individuals ready to fill key roles when current leaders or employees leave. This planning helps maintain stability and continuity within the company, allowing for a smooth transition and minimizing disruptions. By identifying and developing potential leaders, businesses can safeguard their future success. Effective succession planning involves assessing the skills and potential of current employees, often through training and mentorship programs. This not only prepares individuals for future roles but also boosts employee morale and engagement. Ultimately, a well-thought-out succession plan benefits both the organization and its workforce, fostering growth and resilience.