The correct answer is: B. Succession planning
Succession planning is the process of identifying and developing employees who have the potential to fill key positions within an organization. It is a proactive approach to ensuring that the organization has a strong bench of talent to draw from when positions become vacant.
Matching essential managers and essential positions is one of the key steps in succession planning. This involves identifying the key positions within the organization and then assessing the skills and experience of the current employees to determine who is best suited to fill those positions.
Succession planning is important for a number of reasons. First, it helps to ensure that the organization has a strong bench of talent to draw from when positions become vacant. This can help to reduce the risk of disruption to the organization’s operations. Second, succession planning can help to improve employee morale and engagement. Employees who feel that they are being groomed for future leadership roles are more likely to be satisfied with their jobs and to be productive members of the organization. Finally, succession planning can help to reduce the costs associated with turnover. When employees leave the organization, it can be expensive to recruit and train new employees. Succession planning can help to reduce these costs by identifying and developing employees who are ready to step into key positions when they become vacant.
Career cycle, career planning, and career stages are all related concepts, but they are not the same as succession planning. Career cycle refers to the different stages that people go through in their careers, such as entry-level, mid-career, and senior-level positions. Career planning is the process of developing a plan for your career, which may include setting goals, identifying your skills and interests, and developing a strategy for achieving your goals. Career stages are the different levels of responsibility that people typically hold in their careers, such as entry-level, mid-level, and senior-level positions.
Succession planning is a more specific process that focuses on identifying and developing employees who have the potential to fill key positions within an organization. It is a proactive approach to ensuring that the organization has a strong bench of talent to draw from when positions become vacant.