The 5 Ps of Succession Planning

The 5 Ps of Succession Planning are a framework to ensure a company is prepared for future leadership success. They include: 1. **Position** – Identifying key roles that need future leaders. 2. **Potential** – Assessing current employees’ ability to grow into these roles. 3. **Preparation** – Developing talent through training and experience. 4. **Path** – Creating clear career development plans. 5. **Process** – Establishing ongoing procedures to review and update succession plans. Together, these steps help organizations maintain stability and growth by ensuring the right people are ready to step into critical roles when needed.