What is succession in SAP LOD-SF-SCM - Succession Management?

SAP Term: succession

• Component: LOD-SF-SCM

• Component Name: Succession Management

• Description: The process of finding and tracking internal employees who can replace other employees who leave their current positions.

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• Key Concepts: 
  Succession Management is a component of SAP’s SuccessFactors suite of Human Capital Management (HCM) solutions. It helps organizations identify, develop, and retain top talent by providing a comprehensive view of an employee’s career path and potential. It also provides tools to help managers plan for future staffing needs and ensure that the right people are in the right roles at the right time. 
  
  How to use it: 
  Succession Management can be used to identify high-potential employees and create succession plans for key positions. It also provides tools to help managers assess employee performance and potential, create development plans, and track progress. Additionally, it can be used to create succession pools for key positions, which can be used to quickly fill vacancies when needed. 
  
  Tips & Tricks: 
  When creating succession plans, it is important to consider both internal and external candidates. This will ensure that the best person for the job is identified and that the organization is not missing out on potential talent from outside sources. Additionally, it is important to regularly review succession plans to ensure they are up-to-date and reflect current organizational needs. 
  
  Related Information: 
  Succession Management is part of SAP’s SuccessFactors suite of HCM solutions. Other components include Performance & Goals, Recruiting, Learning, Compensation, and Employee Central. For more information on SuccessFactors, please visit https://www.successfactors.com/.