SUCCESSION PLANNING AND STAFF RETENTION CHALLENGES: AN INDUSTRIAL OUTLOOK AND MAJOR RISKS

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Abstract

The sugar manufacturing industry in the emerging economy is potentially at high risk of not achieving its goals of increasing production output. This is due to higher than average age of growers, nonexistence of effective succession planning to expedite the transition to a new generation of growers, related increasing departure of farmers from the industry and difficulty in attracting new talent to the industry due to the high cost of entry. This research sought to explore managements’ perceptions of succession planning and the impact it has on retention at a Sugar Manufacturing Company. In order to achieve the research aim and objectives, a qualitative approach was utilised in the form of an exploratory case study. A single case study was also chosen because this is a critical, unique and revelatory case and the researchers had access to the case previously inaccessible to empirical research. Purposive sampling was used and total of 15 managers participated in this study. The study found that the company is not doing enough to implement succession planning programmes even though there are potential candidates who can be trained and developed into management positions.

Keywords: Emerging Economy, Staff Retention, Succession Planning, Sugar Manufacturing Industry

Received: 20.02.2017
Accepted: 28.05.2017

How to cite this paper: Maphisa, S. M., Zwane, B. K., & Nyide, C. J. (2017). Succession planning and staff retention challenges: An industrial outlook and major risks. Risk governance & control: financial markets & institutions, 7(3), 17-26. https://doi.org/10.22495/rgcv7i3p2