People · business glossary
What is Succession planning?
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
definition
Deliberately preparing specific people to step into key roles before those roles become vacant.
Succession planning explained
Succession planning is identifying and developing people who can take over key roles when current leaders move on.
example
Training a deputy manager for two years so they can run the branch when the manager retires.
why it matters
It protects the business from sudden leadership gaps, especially in family businesses.
common mistake
Leaving succession unplanned until a crisis forces it.
Frequently asked questions
What is Succession planning?
Deliberately preparing specific people to step into key roles before those roles become vacant. Succession planning is identifying and developing people who can take over key roles when current leaders move on.
Why does Succession planning matter?
It protects the business from sudden leadership gaps, especially in family businesses.
What is a common mistake with Succession planning?
Leaving succession unplanned until a crisis forces it.
Related terms
Org chart
A visual map of who reports to whom across a business.
Delegation
Handing off a task or decision to someone else, ranging from simple task assignment to full ownership of the outcome.
Talent acquisition
The broader, ongoing function of sourcing, attracting, and hiring the right people, as distinct from just filling an open position.