Selected Factors Influencing Effective Succession Planning in Deposit Taking Savings and Credit Cooperatives in TransNzoia County, Kenya

Abstract: The purpose of this study was to analyse selected factors that influence effective succession planning in SACCOs. The specific objectives of this study were to; determine the influence of organization culture on effective succession planning in SACCOs in TransNzoia County. The study was based on the leadership succession theory and game theory. The study adopted a descriptive research design. The population of the study was 84 respondents who are board members and members of staff of Transnational Times SACCO. The study adopted a census whereby data was obtained from every member of the population because the population is small. A structured questionnaire and an interview schedule were used as the primary data collection instrument. Content validity was used to measure the validity of the instrument. It relied on the knowledge of the experts who are familiar with the subject matter being measured. The regression model was used to analyse the data obtained to investigate the relationship between the variables. The findings revealed that organisational culture had a significant effect on effective succession planning in SACCOs in TransNzoia County, Kenya. Based on the findings, the study recommends that the SACCO management should sustain job rotation so as to enhance skills acquisition for employees. It also recommends that the management should encourage open discussion about succession planning during the regular meetings and should provide structured interviews that allow staff to know what are the required skills, competencies and knowledge for management. They should also ensure that succession planning is part of SACCOs strategic plans while explicitly stipulating standards for career growth for the employees. The study also recommends that regulatory bodies such as SASRA should emphasize inclusion of succession policies in SACCOs. The study is significant to various stakeholders in SACCO industry who include policy makers, board of directors, top management and employees of the SACCOs because it has provided them with insight on issues affecting succession. The findings of the study was to add knowledge and insights to the students as well as researchers interested in issues of succession planning in the SACCO industry. Keywords: Organisational Culture. Succession Planning. Title: Selected Factors Influencing Effective Succession Planning in Deposit Taking Savings and Credit Cooperatives in TransNzoia County, Kenya Author: Constance Mruttu, Dr. Elizabeth Nambuswa Makokha International Journal of Recent Research in Social Sciences and Humanities (IJRRSSH) ISSN 2349-7831 Vol. 9, Issue 3, July 2022 - September 2022 Page No: 165-178 Paper Publications Website: www.paperpublications.org Published Date: 22-September-2022 DOI: https://doi.org/10.5281/zenodo.7105194 Paper Download Link (Source) https://www.paperpublications.org/upload/book/Selected%20Factors%20Influencing%20Effective-22092022-5.pdfInternational Journal of Recent Research in Social Sciences and Humanities (IJRRSSH), ISSN 2349-7831, Paper Publications, Website: www.paperpublications.or