Effect of Succession Management Practices on Business Continuity: Study of Avipreneurship SMEs in Ogun State Nigeria
A succession management practice is crucial in the current situation of tight talent markets and competitive times, developing successor is a must for all overall organisational development, particularly in a dynamic business environment, thus organisation can’t afford to be without the right people who can quickly fill a key role that could become vacant. Hence, developing a successor through adoption and implementation of succession management practices is a must for overall organsational performance, business continuity and sustainability. It is therefore imperative that this study examines the effect of succession management practices measured by coaching, employees’ career development, job rotation, recruitment policy, mentoring on business continuity using Aviprenurship SMEs in Ogun State Nigeria as reference This study adopted survey research design. The target population for the study is three hundred and fifty-three (353) registered poultry small and medium scale farms and each of the farms having two respondents; that is, owner and manager making a total of 706 respondents. The 353 are registered farms with poultry association Ogun State. A total of 632 questionnaires were returned representing 89.5% response rate. Total enumeration was adopted. A structured and validated questionnaire was used for data collection. The reliability test yielded Cronbach’s alpha for the constructs ranges from 0.728 to 0.954. The result revealed that coaching (β = 0. .265, t = 5.973, p<0.05), employees’ career development (β = .190, t = 4.334, p<0.05) and job rotation (β = .112, t = 2.803, p<0.05) all have a significant positive effect on business continuity. However, recruitment policy (β = .030, t = .738, p>0.05) and mentoring (β = .027, t = .643, p>0.05) have positive but non-significant effect on business continuity in Avipreneurship SMEs in Ogun State, Nigeria. The results of the analysis revealed that three dimensions of SMP (employees’ career development, coaching and job rotation) have positive and significant effect on business continuity of the Avipreneurship SMEs in Ogun State, Nigeria. Findings further revealed that Succession management practices have significant effect on business continuity of Avipreneurship SMEs in Ogun State, Nigeria (Adj.R2= 0.308, F(5, 626) = 57.284, p<0.05). The study concluded that succession management practices affected business continuity of Avipreneurship SMEs in Ogun State, Nigeria. The study recommended that the management of Avipreneurship SMEs in Nigeria should create detailed succession plans that outline the process for identifying and preparing future leaders. This includes defining key roles, identifying potential successors, and providing them with the necessary training and development opportunities.
Keywords: Business Continuity, Avipreneurship, Small and Medium Enterprises, Succession Management Practices
