The term _____ refers to the process of identifying a plan for the orderly replacement of key employees.
A) attrition
B) succession planning
C) due diligence
D) benchmarking

Question

Quizplus · Accepted Answer

Succession planning is the process of identifying and developing potential future leaders or key employees within an organization, as well as devising strategies for their replacement once they leave their current positions. It aims to ensure business continuity and maintain operational efficiency by preparing for potential leadership changes, retirements, or unexpected departures of key employees. Attrition refers to the gradual reduction in the workforce due to natural causes such as retirements, resignations, or deaths. Due diligence is a rigorous examination or investigation of a company or an opportunity before making a decision to invest or acquire. Benchmarking is the process of comparing an organization's performance or practices against industry peers or best practices to identify performance gaps and areas for improvement.

The Term _____ Refers to the Process of Identifying a Plan