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Succession management used to refer to the process of replacing a CEO when the position became vacant due to foreseen or unforeseen circumstances. These days, leading organizations understand the importance of implementing a succession plan for more and more roles across the company - in some cases extending to the larger population (managerial, professional, and administration). Succession planning is also an important way to identify, develop, retain and allocate key members of your workforce long before any talent gap occurs.
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