Final answer:
Succession planning describes a replacement plan that categorizes key employees and lists possible substitutes. It involves identifying future leaders and critical position holders within an organization, and it is conducted through observation, surveys, and interviews.
Step-by-step explanation:
The right answer to the question is C. Succession planning. This is a strategic process in which an organization identifies and develops potential future leaders or senior managers, as well as individuals to fill other business-critical positions, either in the short or the long term. In addition to candidate development, succession planning involves creating a detailed approach for identifying, capturing, and transferring knowledge to ensure a smooth transition when employees leave critical roles.
Organizations may use observation, surveys, and interviews to gather the necessary information for succession planning, similar to job analysis techniques. For example, observing someone proficient at a position to analyze the essential skills or interviewing individuals currently in the role and their supervisors contributes to understanding the qualifications required for crucial positions. These insights are important for identifying suitable substitutes or successors within the company.
It is essential that succession planning is not confused with other terms like job description, which outlines the specific duties and requirements of a job, or a 360-degree review, which is a type of performance appraisal where an employee's performance is assessed by a variety of observers like supervisors, peers, and sometimes customers. Succession planning focuses on the future and ensuring continuity of leadership and other key roles in the organization.