Project on Factors affecting succession planning in an organization

Abstract

This study describes the factors that affect succession planning in an organization. This study has been fundamentally written after collecting information through online survey & offline survey. Succession planning means developing the leadership substitute. The main purpose of this study is to investigate internal & external factors that influence succession planning in an organization. The questionnaire for conducting the survey has been developed using Likert scale. The data or information has been collected through online, web sites & also from personal visit. This research will help to understand which factors is mostly influenced the succession planning in real situations and will also help to find out factors which are not important for the company and which factors the company should consider as important to make better succession planning. In this report descriptive and statistical methods have been used for analyzing the surveys which has been collected from different organizations. Twenty responses have been collected where 60% are male respondent & 40% are female respondents. They are mostly aged from 32 to 36 years. This study shows, high skilled internal candidate’s importance, selection for multiple candidates, strong management system, strong organizational culture, financial support, diversity in management, formal written plan, as crucial factors related to succession planning. This study revealed a need of a succession planning in all organizations to get a next best successor.