EFFECT OF SUCCESSION PLANNING ON ORGANIZATIONAL SURVIVAL AND GROWTH IN OIL AND GAS INDUSTRY

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EFFECT OF SUCCESSION PLANNING ON ORGANIZATIONAL SURVIVAL AND GROWTH IN OIL AND GAS INDUSTRY

Abstract

Succession planning plays a vital role in ensuring leadership continuity, organizational survival, and sustainable growth, particularly in the highly competitive and volatile oil and gas industry. This study investigates the effect of succession planning on the survival and growth of organizations within this sector. The research examines how structured succession planning influences talent retention, leadership preparedness, and long-term organizational performance.

Using a mixed-method approach, data were collected from managers and employees of selected oil and gas companies through structured questionnaires and interviews. The findings reveal that effective succession planning enhances organizational stability by minimizing disruptions during leadership transitions. It also promotes employee motivation and commitment, which are essential for achieving strategic objectives.

The study highlights the need for proactive succession strategies, including talent development programs, mentoring, and a clear roadmap for leadership transitions. It concludes that organizations in the oil and gas sector that prioritize succession planning are better positioned to achieve sustainable growth and maintain a competitive edge. Recommendations are provided to help companies optimize their succession planning practices to enhance resilience and adaptability in the face of industry challenges.

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