Technology, globalization, worker diversity, demographic changes and organizational complexity are some of the characteristics of the present-day business environment. Therefore, succession planning is more important than ever and the “qualities” of a good leader have changed altogether. Succession planning and leadership development are now regarded as an overlapping corporate agenda, and part of the future plans, that helps to give innovation and ensures good competitiveness and sustainability. However, there is an increasing need for businesses to recruit managers that are able to thrive in changes, embrace new technologies, inspire their staff and ensure the business runs efficiently and effectively. Thus, in an era where strong succession management programs are more important than ever, senior knowledge figures are more commonly reaching retirement age—as well as employees' expectations changing, so is the competition surrounding knowledge. Continuous, competency-based, technology-driven approaches to leadership development have superseded more traditional types of leadership development recently. To accelerate leadership development, companies are using leadership development plans, mentoring, leadership coaching, predictive analytics and artificial intelligence. Replacement planning has come a long way if we consider the changes that have taken place in succession planning. This article highlights the topical trends on leadership development and succession management, reviews the theory underpinning these trends, discusses new techniques used in succession management and reflects on its implications in the productivity of organizations. This research makes its contribution in the existing knowledge by giving extensive research on latest occurrence of leadership and talent management practices in which it has found direction and recommendations for future.