Measuring the value of succession planning and management: A qualitative study of multinational companies

This article proposes a model for planning and operating an effective succession planning and management (SP&M) program and measuring its value. The nature of the research is exploratory, following a qualitative approach using in-depth interviews. Representatives of multinational companies interviewed for this study revealed that succession planning was considered a key corporate strategy to achieve various objectives. Although the level of sophistication of succession planning varies, implementation of a succession planning program follows four phases: initiation, assessment, development, and evaluation. SP&M programs were measured in process or based on outcomes. The study suggests possibilities for several models and approaches, including applying a balanced scorecard approach to evaluating succession planning.