How can a robust succession planning process mitigate risks associated with key personnel turnover?
- Identifying and developing internal talent pools
- Offering high salaries to retain key personnel
- Ignoring the issue until a replacement is urgently needed
- Conducting exit interviews to understand the reasons for turnover
A robust succession planning process involves identifying and developing internal talent pools, ensuring that potential successors are ready to step into key roles when needed. This mitigates risks associated with key personnel turnover by reducing the time and disruption involved in finding replacements, maintaining continuity, and preserving organizational knowledge.
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