From the course: Human Resources: Strategic Workforce Planning
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Should leadership succession plans be secret?
From the course: Human Resources: Strategic Workforce Planning
Should leadership succession plans be secret?
- Ideally, careful succession planning grooms people inside the organization for possible leadership roles. It motivates high-performing, high-potential people to stay and to excel. So why do some firms keep their leadership succession plans secret? Because at the heart of succession are sensitive issues like personality, ego, power, and most important, mortality. In this video, we'll explore the pros and cons of keeping succession plans secret and I'll suggest a middle ground. For many senior executives, their job is their life. Planning for their successors is akin to planning their funerals. They don't wanna think about that so some firms keep their succession plans secret, especially if the company is performing well. Yet if firms keep strategic workforce planning information about candidates secret, all of that planning may have limited value. For example, at a software company, a senior executive on her way out the door for the president's job at a competitor was told that the…
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