Succession management: a model for developing nursing leaders.

Succession management is critical to all healthcare organizations as they respond to the cost-cutting initiatives brought about by the prospective payment era. This personnel management system ensures that motivated individuals enter and ascend the management hierarchy consistently. Such stabilization is reflected in turnover vacancy rates of < 12 percent and < 9 percent, respectively, at a time of unprecedented competition for professional nurses. This provides not only greater professional advancement but also stability for patient care delivery.