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Effective succession or talent-pool [[management]] concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression.<ref name="charan">{{cite book|last1=Charan|first1=Ram|last2=Drotter|first2=Stephen|last3=Noel|first3=James|title=The Leadership Pipeline: How to Build the Leadership-Powered Company|date=2001|publisher=John Wiley & Sons|isbn=0787958522|url=https://books.google.com/books?id=kEE3gCkopWYC|accessdate=1 October 2017}}</ref> In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given [[senior management]] positions. Thought should be given to the [[Employee retention|retention]] of key employees, and the consequences that the departure of key employees may have on the business.<ref>{{cite journal|last1=Cosack|first1=Sabine|last2=Guthridge|first2=Matthew|last3=Lawson|first3=Emily|title=Retaining key employees in times of change|journal=McKinsey Quarterly|date=August 2010|url=https://www.mckinsey.com/business-functions/organization/our-insights/retaining-key-employees-in-times-of-change|accessdate=1 October 2017}}</ref>
Fundamental to the succession-management process is an underlying philosophy that argues that top talent in the corporation must be managed for the greater good of the enterprise. [[Merck & Co.|Merck]] and other companies argue that a "talent mindset" must be part of the leadership culture for these practices to be effective.<ref>{{cite book|last1=Michaels|first1=Ed|last2=Handfield-Jones|first2=Helen|last3=Axelrod|first3=Beth|title=The War for Talent|date=2001|publisher=Harvard Business Press|isbn=1578514592|page=[https://archive.org/details/isbn_9781578514595/page/168 168]|url=https://
==Business succession planning==
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Assessment is a key practice in effective succession-planning. There is no widely accepted formula for evaluating the future potential of leaders, but many tools and approaches continue to be used today, ranging from personality and cognitive testing to team-based interviewing and simulations and other [[Assessment centre]] methods. [[Elliott Jaques]] and others have argued for the importance of focusing assessments narrowly on critical differentiators of future performance. Jaques developed a persuasive case for measuring candidates' ability to manage complexity, formulating a robust operational definition of business intelligence.<ref>{{cite book|last1= Jaques|first1= Elliott|title= Requisite organization: the CEO's guide to creative structure and leadership|date= 1989|publisher= Cason Hall|isbn= 096210700X|url= https://books.google.com/books?id=gkwPAQAAMAAJ|accessdate= 1 October 2017}}</ref> The Cognitive Process Profile (CPP) [[Psychometrics|psychometric]] is an example of a tool used in succession planning to measure candidates' ability to manage complexity according to Jaques' definition.
Companies struggle to find practices that are effective and practical. It is clear that leaders who rely on instinct and gut to make promotion decisions are often not effective.{{cn|date=December 2017}} Research indicates that the most valid practices for assessment are those that involve multiple methods and especially multiple raters.<ref>{{cite book|last1= McCall|first1= Morgan W.|title= High flyers: Developing the next generation of leaders|date= 1998|publisher= Harvard Business Press|isbn= 0875843360|url= https://
With organisations facing increasing complexity and uncertainty in their operating environments some{{quantify|date=December 2017}} suggest a move away from competence-based approaches.<ref>{{cite journal|last1= Carroll|first1= B.|last2= Levy|first2= L.|last3= Richmond|first3= D.|title= Leadership as practice: Challenging the competency paradigm|journal= Leadership|date= 2008|volume= 4|issue= 4|pages= 363–379|doi= 10.1177/1742715008095186}}</ref> In a future that is increasingly hard to predict leaders will need to see opportunity in volatility, spot patterns in complexity, find creative solutions to problems, keep in mind long-term strategic goals for the organisation and wider society, and hold onto uncertainty until the optimum time to make a decision.{{cn|date=December 2017}}
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