Study: Firms Guarded On Succession Planning

New York — June 14

Succession plans are among the areas most closely guarded by top management, according to a survey of nearly 300 senior managers and executives by AMA Enterprise, a specialized division of American Management Association.

While companies are increasingly open when it comes to most HR policies and processes, in almost half of the organizations surveyed there is limited transparency when it comes to succession planning.

Forty-six percent of respondents said their companies are “not at all” transparent with succession planning and 43 percent said they are “somewhat” transparent. Further, only 11 percent said their organizations are very transparent on this initiative.

Moreover, 38 percent keep their high-potential selection criteria secret and another 28 percent said they do not share information on admission to leadership programs. In contrast, with respect to employee survey findings, 41 percent of respondents reported that their organization is very transparent and 35 percent reported similar openness on corporate strategy.

AMA Enterprise, which provides companies and government organizations with training services, conducted the survey to assess the trend toward greater transparency in employee development and career management.

The survey population consisted of 289 senior-level business, human resources, management professionals and employee contacts drawn from the AMA.

Source: AMA