Succession Planning for Enhanced Performance in State-Owned Enterprises: Role of Age Diversity

Abstract

Age diversity plays an important role and as a tool can transform the organization, culture, and performance. Research indicates a need to have a balance between the older and the younger generation to foster creativity, innovativeness, and better decision making. Apart from that, age diversity also ensures a smooth transition of power and positions across all organizational thereby leading to enhanced performance. Literature emphasizes that skills and information as a result of age diversity contribute to the quality of the team and overall organizational performance while succession planning ensures consistency and leadership continuity. Adopting a qualitative research method, descriptive in nature with survey design, the objective of this study is to identify age diversity role in succession planning and how effective it is as a tool in succession planning for improving performance in state-owned enterprises (SOEs). Findings reveal a strong correlation between age diversity, succession planning, and the performances of state-owned enterprises.