Succession Planning -
Training Mentors
Succession Planning -
Training Mentors
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Advantages and Disadvantages
Advantages
Disadvantages
Business is prepared for the immediate loss of a key employee.
Employees selected are continually trained and developed.
An ongoing supply of well trained, broadly experienced, well-motivated people who are ready and able to step into key positions as needed.
Defined career paths, which will help the company recruit and retain better people.
Retention of knowledge of business practices.
Retain a critically important employee who might otherwise leave if not formally recognized as the successor.
Appointing the wrong person can lead to a variety of problems that result in poorer company performance and turnover.
Selecting someone too quickly to appoint someone only to have a better candidate appear later on.
A poorly conducted succession planning process will lead to poor decisions, disharmony and ultimately poor company performance as well.