Final answer:
The process for identifying and developing new leaders who can replace leaders when they leave an organization is called succession planning.
Step-by-step explanation:
The process for identifying and developing new leaders who can replace leaders when they leave an organization is called succession planning. Succession planning is a strategic process that involves identifying potential future leaders within an organization, assessing their skills and abilities, and providing them with the necessary training and development opportunities to prepare them for leadership positions.
In succession planning, organizations aim to ensure a smooth transition of leadership by grooming potential successors and building a leadership pipeline. This process helps organizations avoid leadership gaps and maintain continuity and stability in their operations.
Organizations may use various methods such as mentoring, coaching, job rotations, and leadership development programs to identify and develop new leaders for future leadership roles.