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Should Succession Plan be a secret?

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  There are many organizations and HR Heads who believe that the succession plan should always be kept confidential and divulging the succession planning process to concerned employees can affect the organization negatively. In many companies, the succession planning process is a mystery and promotions are a surprise.  Even today many management professionals believe that revealing the succession plan to employees can destabilize the organizational harmony and team spirit. Is this belief a fact or just a disquiet? Should the management hide the succession plan from employees, thus paving way for prognostications and gossips?   Succession planning is an important strategic process, but the absence of transparency might lead some high-potential talents to quit the organization if they do not see the opportunity of formidable growth opportunities. Communicating the plan of advancement to employees will have a positive effect on their motivation to take up developmental objec...
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Standard Chartered to reduce hundreds of jobs

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