Final answer:
Succession management aids organizations in planning for future leadership by identifying and developing internal candidates for higher positions, ensuring a talent pool for business continuity.
Step-by-step explanation:
Succession management can help organizations in planning potential replacements for higher positions and identifying skills needed for success at these positions. Unlike surveys or job analysis templates, succession management is a strategic process that involves identifying and developing internal personnel with the potential to fill key leadership roles within the organization. By doing so, the organization ensures a continuous creation of a talent pool, thus securing business continuity.
Through tools such as performance appraisals, including the 360-degree feedback system, organizations can assess the competencies and performance of current employees. This helps in understanding the skills that are deemed necessary for higher positions and identifying which employees might be capable of stepping into those roles if needed. Moreover, mechanisms like observation, interviews, and surveys support the succession management process by providing a clearer view of the job's demands and ensuring that there is an alignment of employee skills and organizational needs.