SUCCESSION PLANNING AND ORGANIZATIONAL SUSTAINABILITY AMONG BANKS IN EKET LOCAL GOVT., AKWA IBOM STATE
Category : IJAAR: Volume 9, Issue 6
SUCCESSION PLANNING AND ORGANIZATIONAL SUSTAINABILITY AMONG BANKS IN EKET LOCAL GOVT., AKWA IBOM STATE
Akpan, Oto-Obong Okon (MSc)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University.
Okon_otobong@yahoo.com
Christabel Brownson (PhD)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University.
Kingsley Uwa (PhD)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University.
ABSTRACT
This study centred on the succession plan and organizational sustainability among Banks in Eket Local Govt., Akwa Ibom State. If succession planning is a priority of the future it would clearly suggest that it is directly linked to organizational sustainability. Unfortunately, this critical area receives less attention because of directors’ fear of agency costs, need for short-term profits, without thinking more of a robust succession policy to produce competent chief executive officers (CEOs) for intergenerational growth and sustainability. Objectives were designed to assess the effect of succession plan practices and organizational sustainability. From the objectives, four research questions and four hypotheses were formulated for the study. A research survey design was employed for the work, a total of 275 respondents were used as population of the study. Data gathered were analyzed and four hypotheses formulated were tested using statistical tool of Regression Analysis test, the four formulated null hypotheses were tested at 0.05 level of significance. The result from the analysis showed that, talent management is a significant strategy for organizational sustainability (r=0.642, p<0.05); career development has a significant influence on organizations sustainability among Banks in Eket Local Govt, Aks (r=0.772, p<0.05). It was concluded that, Succession plan practices has a positive and significant effect with the sustainability of Banks in Eket Local Govt., Aks. Based on the findings, it was recommended that, the managers of the studied banks should place more emphasis on talent management, so as to foster organizational survival. Managers should develop career within the organizations and its human capital or workforce, so that they would be able to compete and survive with the demands of this 21st century.
Keyword: Succession plan, Talent management, Career development, Organizational sustainability, Banks in Eket Local Govt.
