Final answer:
Succession planning is the process of identifying, developing, and tracking employees for higher-level positions within an organization. The given statement is true.
Step-by-step explanation:
Succession planning is the process of identifying, developing, and tracking employees to prepare for their advancement into higher-level positions within an organization. It involves creating a pipeline of talented individuals who can take on future leadership roles.
For example, a company may identify high-potential employees and provide them with training and mentorship opportunities to enhance their skills and knowledge. By nurturing their growth and providing them with development opportunities, the organization ensures a smooth transition when higher-level positions become available.