CHAPTER 1: INTRODUCTION 1.0 Chapter Overview - DSpace@UM

the resources and support to establish continuity in leadership and other key positionswithin the organization during times of change. Businesses that do not take proactivesteps to plan for future talent needs at all levels will face certain disruption, and evendisasters, when key employees retire or are lured away by competitors (Rothwell, 2001).Succession planning should be a plan to replace people in every level of the firm from topexecutives to key support staff. Once a firm has a succession plan, it is in a better positionto promote and to hire without reverting to a ‘bums of seats’ style of recruitment, wheremanagers desperately rush to plug gap which don’t take long to start coming unpluggedagain (Lambert, 2005).According to Roberts (2002), the ultimate aim of succession planning is to promote thebest and brightest across the corporation by having the right person in the right place atthe right time for the right job. Succession planning and management need not be limitedsolely to management positions or management employees. Indeed, an effectivesuccession planning and management effort should also address the needs for criticalbackups and individual development in any job category-including key people in theprofessional, technical, sales, clerical, and production ranks (Rothwell, 2005). Ang(2007) states that according to Tan Sri Teh Hong Piow, the chairman and founder ofPublic Bank Berhad, succession planning is not only confined to top management but itshould also be cascaded through all levels of staff. He further emphasizes that thesuccession policy is to groom and ensure that a sufficient number of candidates areavailable for every existing position, for smooth transition.2