SUCCESSION PLANNING AND PERFORMANCE OF PRIVATE-OWNED ENTERPRISES IN BENUE STATE, NIGERIA
Abstract
This study examined the effect of succession planning on the performance of privately owned enterprises in Benue State, focusing on leadership development, talent retention, and knowledge transfer. Anchored on Human Capital Theory and the Resource-Based Theory, the study adopted a survey research design using structured questionnaires to collect data from a population of 170 employees, with the sample size determined using the Taro Yamane formula and selected through simple random sampling. Data were analyzed using multiple regression with SPSS v23. The findings revealed a positive and significant relationship between leadership development, talent retention, knowledge transfer, and organizational performance. The study concludes that effective succession planning enhances the performance of privately owned enterprises in Benue State and recommends sustained investment in leadership development, comprehensive talent retention strategies, and institutionalized mentorship and training programs to support effective knowledge transfer.
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