Examining the Mediating Roles in the Relationship between Effective Succession Planning Practices and Employee Retention

Abstract

The purpose of this research is to examine the impact of effective succession planning practices on employee retention within organizations. Succession planning is a key human resource strategy designed to identify and develop future leaders or critical talent, ensuring organizational stability and long-term success. This study investigates how well-implemented succession planning influences employee retention by exploring its relationship with various workplace factors that contribute to employee loyalty and job satisfaction. In order to determine the direction and intensity of the relationship between succession planning procedures and staff retention, a quantitative research approach was adopted, which made it possible to gather and examine numerical data. 113 respondents from companies across several industries made up the study's chosen sample, offering a varied perspective on workplace dynamics. A non-probability method called convenience sampling was used to choose participants, which streamlined the data gathering procedure but might have limited generalizability. The study's conclusions showed that good succession planning techniques significantly and favorably affect staff retention. Workers tend to remain with a company longer if they believe it has effective succession planning procedures. This is due to the fact that succession planning gives workers a feeling of security, advancement, and organizational dedication, all of which motivate them to stay with the company.

The study also explored the function of mediators in this relationship, including seven potential mediators such as employee satisfaction, perceived career options, organizational culture, and leadership effectiveness. Several of them were found to considerably improve the relationship between succession planning and retention, indicating that other organizational characteristics are also important in influencing retention outcomes, even if succession planning is essential. The study concludes by emphasizing how crucial efficient succession planning is to raising employee retention. In addition to preparing for future leadership requirements, companies that invest in systematic succession planning foster a work environment where staff members feel appreciated and perceive prospects for long-term advancement. These procedures help to decrease turnover and increase employee loyalty.

Keywords: Effective Succession Planning Practices (ESPP), Employee Retention (ER), Organizational Effectiveness (OE), Performance Goal Orientation (PGO), Supervisor Support (SS), Working Environment (WE), Rewards (REWD), Work-Life Policies (WLP), Career Development (CD), Job Security (JS) and Private Sector