Management Succession Planning and Corporate Survival of Commercial Banks in Kogi State

Abstract

This study examines Management Succession Planning and Corporate Survival of Commercial Banks in Kogi state. The objective of the research is to specifically examine the extent to which succession planning enhances corporate survival of commercial banks in Kogi State. The study specifically, examines the relationship between mentoring and dynamic capability, talent management and adaptivity of Commercial banks in Kogi State. The population of the study is 1024 which cut across four commercial banks in Kogi state. However, considering the large size of the population the study adopted the Godden sample size statistical formula to reach respondents numbering 246 through a structured questionnaire but only 226  respondents completed and returned their questionnaire given 92 % retrieval rate. Pilot study was conducted using a test re-test method and tested using Cronbach alpha to establish the reliability of the instrument. The data were analyzed using a five point’s likert scale and hypotheses were tested using linear regression analysis. The findings revealed that there is a significant positive relationship between mentoring and dynamic capability, talent management and adaptivity. The study therefore recommends that commercial banks in Kogi state should not only sustain its succession planning strategies but should carryout periodic review in order to give them competitive edge to strive for reasonable length of time. More so, mentoring as an effective talent management technique should be integrated and internalized within the banks so that the banks could be able to strive and remain afloat for the future thus meeting their immediate and strategic objectives.