Abstract:
In recent time business organizations have recognized an Effective Succession Planning
concept as one of the key aspect of managing the employee’s retention. The research was
studied about an Impact of Effective Succession Planning practices on Employee’s
Retention with special reference to private business organizations in Sri Lanka. The
researcher conducted a field survey and collect data across 100 middle- level managers in
top ten private organizations according to the LMD report 2017. Standard version
questionnaire was used as a data collecting technique and convenience sampling method
was utilized to select the sample. Data analysis was done according to the research
objectives by using descriptive statistics, correlation, simple regression, and multiple
regression analysis with the support of SPSS 21version. According to the data analysis
results, employees were almost agreed with the existing effective succession planning
practices utilized in each particular organization. Performance Goal Orientation moderator
was strong and positively correlates with Effective Succession Planning practices and
Employees Retention. Researcher proved there is a positive impact from Effective
Succession Planning practices to the Employees Retention. Management Involvement and
Diversity Management are the highest and lowest contributory dimensions on employee
retention respectively. Final objective resulted there is no more interaction by Performance
Goal Orientation moderator to the relationship among Effective Succession Planning
practices and Employee Retention. Effective succession planning practices mostly affect for
the employee retention and researcher suggested managers to select a most appropriate type
of succession practices in business context. The results provide various implications for fill
the knowledge and empirical gap within the research context. Finally, it will contribute the
top level managers and as well as future researchers in the same research area.
