Did you ever find the answer?
Answer:
It improves employee retention and performance motivation.
Explanation:
There are few factors that keep employee motivated and loyal toward organization. The basic factors are career path and monetary benefits that keep the energy flow in the employee.
A formal succession plan is a human resource management strategy for identifying the potential successor, it reduces the confusion for the organization and employee in the method of hiring and promotion. These strategies also keep an employee motivated, improve performance and retention in the organization as they find growth and security in the organization.
If they have alot of money then it might be hard for them to save because they have enough or if they dont have alot of money then they just wanna have alot of items i do that sometimes☺
