What does formal succession planning aim to provide?

Formal succession planning primarily aims to ensure that an organization has a supply of highly qualified individuals who are prepared to step into key roles when needed. This process involves identifying and developing internal personnel who can fill those roles, thereby securing the continuity and stability of leadership and critical functions within the organization. By focusing on the development of talent within the organization, succession planning helps to mitigate risks associated with unexpected vacancies and supports strategic growth by having skilled individuals ready to take on new challenges.

In contrast, other options do not align with the core intent of succession planning. Unqualified candidates do not fit into a plan designed to ensure organizational effectiveness. General employee training serves a different purpose than the targeted development of leadership potential required in succession planning. Benefits standardization relates to ensuring consistency in employee benefits, which is unrelated to preparing individuals for future leadership positions. Thus, the correct choice highlights the essential goal of formal succession planning in fostering a talent pool ready to meet organizational needs.