Succession Plan in Automation Market

Abstract

The research falls under the interpretivist paradigm to explore the demand for the automation market which is anticipated to grow from 2024 to 2029.  Exceptionally talented employees are in need since the baby boomers will be retiring by 2044 in Malaysia.  Previous studies did not focus on the succession plan for this Automation Market since this has emerged as the new incite.  The model developed in this study is based on the strategic process that identifies and develops potential leaders within an organization to fill key roles when current leaders retire, leave, or move to other positions. It is crucial for continuity succession planning which ensures a smooth transition when leaders depart, minimizing disruptions and maintaining operations. The need to focus on Talent Development in grooming internal talent, fostering growth, and providing opportunities for skill development. Also need to aggregate the Risk Mitigation by having a pipeline of qualified successors which reduces the risk of leadership gaps.  Thereafter, on the Organizational Resilience whereby effective succession planning strengthens an organization’s long-term resilience and adaptability. It is not just about replacing leaders but building a sustainable leadership pipeline.  The methodology used for this paper was structured by a semi-structured interview. Based on the previous review and the findings, it is evident that succession planning is needed to prepare for the market's future growth.