ABSTRACT
Replacement planning is used to identify an individual who would replace a specific employee if they were to exit the organization or become incapacitated. It is very short-term in nature and serves the purpose of ensuring the organization can operate if unexpected personnel losses occur. Human capital planning has the same challenges as other types of business planning. There are different views of planning, particularly when the environment is turbulent. Career planning can also be a positive in retaining people, particularly those who have been entering the workforce during the last decade. Since the lifelong employment contract has expired, the “big two” for attracting and retaining the recent cohorts entering the workforce have been “pay well” and “keep marketable.” Investing in capital equipment and technology is another source of increased productivity.
