You are a manager at a software development company. A key senior developer, who mentors junior developers and has deep institutional knowledge, has announced her retirement in 3 years. She has already documented her tasks and areas of expertise.
Considering succession planning, which of the following actions would be MOST effective in ensuring a smooth transition and continued knowledge transfer within the development team?
Identify a high-performing junior developer and develop a training plan focused on the retiring developer's expertise.
Share the executive's documents with the remaining senior developers to fill the knowledge gap.
Wait until the executive retires, then use their document as a guide and training tool for her replacement.
Immediately hire a new senior developer to eventually replace the retiring individual.