Succession Planning
Definition
What is Succession Planning?
Succession planning prepares replacements for key roles. For SMEs, it prevents disruption when leaders or specialists leave. Identifying potential successors and training them reduces risk, increases resilience, and ensures business continuity without costly external hires or long vacancies.
Why it Matters for SMEs
- Prevents disruption
- Develops talent
- Saves costs
Example in Practice
"An SME tags high-potential employees in Factorial for leadership roles."
Frequently Asked Questions
Common questions about succession planning
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