Succession Planning for Top Executives Is Very Time Consuming and Expensive

Essay

Succession planning for top executives is very time consuming and expensive to initiate,so many organizations do not have one in place.Also,it is suggested that all the time preparing excellent candidates only results in them leaving the organization if they are not selected for the promotion,which means you helped groom an executive for your competition.Explain why,even given the above,it is a good idea to have such a program in place.