Succession planning is one of the most critical endeavors an organization undertakes. In our experience, different companies apply succession planning for a variety of purposes. Most organizations, however, tend to focus on many of the goals simultaneously. No mater what the purposes, succession planning criteria and processes should stem from the clarification of key principles to guide the initiative.
At a more practical level, we have found that the criteria applied in succession planning should be multi-dimensional, simple to assess, and linked to "future" success.
This article illustrates how succession planning should be a purposeful initiative that focuses on developing critical leadership talent and how best in class companies structure and communicate clear principles, apply specific criteria, and implement a structured sustained process.
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Copyright 2003 Schoonover Associates 
Succession Planning: How Best In Class Companies Develop Leadership Talent