The Effect of Succession Planning on Non-Financial Performance of Financial Institution in Kwara State.

Abstract

For organizations to survive and excel in today's highly dynamic and competitive business environment, they must have a dynamic and high potential group of employees at all organizational levels. Hence this research examined the impact of succession planning on organizational performance at First Bank PLC in Ilorin Kwara State. The specific objectives are to (i) determine the extent to which talent management impact employees' turnover; and (ii) examine the influence of career development on employees' performance. The research made use of descriptive research design, using simple random and purposive sampling techniques with a sample size of 105, based on a population of 142. Hence, a structured questionnaire of 105 was distributed to the respondents. Data collected were analyzed using regression analysis and findings of the study was presented using frequency tables while hypotheses were tested using multiple regression analysis at 0.05 level of significance. The findings of the study revealed that talent management has a significant impact on employees' turnover, and career development has a significant influence on employees' performance. Therefore, it is concluded that succession planning has an impact on organizational performance. The study recommended that, the management of first bank should utilize adequate resource to areas involving talent management and they should ensure that there is a carefully designed career development system.