Succession planning is a process where an organization ensures key roles are filled by developing employees. It differs from replacement in that it is a planned, flexible approach to renewing leadership over time. Succession planning is important because leadership positions become vacant due to promotions, retirements, illnesses or departures. The process involves defining goals, assessing employees, implementing development plans, and evaluating effectiveness. Benefits include developing talent, identifying skills gaps, and improving learning systems. Infosys' succession planning utilizes nine pillars including feedback, training, development assignments, and community programs to cultivate future leaders.