The practice wherein senior executives review their top executives to identify backups is known as:

Succession planning is the systematic process through which an organization identifies and develops individuals to fill key leadership positions as they become available. This practice typically involves senior executives reviewing their top executives to ensure that there are qualified candidates ready to step into critical roles should the need arise. It emphasizes not only the identification of potential successors but also the development of these individuals, ensuring they possess the necessary skills and experience.

This approach is vital for maintaining organizational stability and continuity, especially during times of transition, such as retirements or unexpected departures. By having a structured succession planning process in place, organizations can mitigate risks associated with leadership gaps and ensure that leadership roles are filled promptly with capable individuals who are already familiar with the company culture and operations.

In contrast, performance management focuses on assessing employee performance and setting goals, leadership development concentrates on cultivating skills for future leaders beyond immediate succession needs, and talent acquisition pertains to the process of attracting and hiring new talent into the organization.