World Research of Business Administration Journal
Vol.4 No.2 July 2024
DOI https://www.doi.org/10.56830/WRBA07202403
Authors
Abstract
This article explores the vital relationship between management succession and employee retention within companies. It begins by using defining management succession and outlining its significance in retaining organizational stability and continuity. Employee retention is examined as an essential issue for organizational success, specifically in competitive commercial enterprise surroundings wherein talent is a key asset. Methodologies used in reading this relationship are discussed, imparting insights into quantitative and qualitative techniques hired within the studies. Two in-depth case research are supplied: the primary examines the effect of CEO succession on worker retention in a Fortune 500 employer, whilst the second one makes a specialty of the role of succession planning in fostering supportive work surroundings that encourage worker loyalty. Best practices for management succession planning are mentioned, supplying practical tips for companies striving to improve retention fees. The article additionally addresses the demanding situations and limitations associated with imposing powerful succession strategies. By highlighting these interconnected themes, they take a look at targets to provide precious insights for leaders and HR practitioners searching to enhance employee retention through strategic management transitions.
Keywords : Leadership succession, Employee Retention, Management Transition
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