Succession planning is a vital yet often overlooked aspect of organizational strategy. Contrary to popular belief, succession planning is not about people taking someone else's job but about ensuring continuity and stability within a company. According to Succession Planning: Preparing Organizations for the Future, a research report from the Association for Talent Development, only 50 percent of respondents reported having a succession planning process. That gap underscores the higher risk companies face during transitions without a succession plan.