An Investigation On Succession Planning Initiatives And Knowledge Retention: It Only Takes ‘Two’ To Tango
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Abstract
Knowledge management is of significant interest in the management field. In our digital society that is driven by advanced technological changes, efforts towards knowledge management are becoming highly important as knowledge knows no boundaries. This study is conducted to observe the importance of succession planning initiatives towards knowledge retention. To remain competitive in this digital society, succession planning is a process that cannot be ignored by any organization. It involves the nourishment of talent and thus, its processes affect the organization, financially and operationally. Of 150 questionnaires distributed, 102 were returned and analyzed, yielded a 68% response rate. Based on a deductive method, of the six dimensions of succession planning, there were only two hypotheses supported. It was established that, only top management support and strong organizational culture have significant effect towards knowledge retention. Practical and managerial implications were discussed.
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