What is it?
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Lay off as many employees as possible. Use these same people now as contractors. Pay contractors no benefits. Squeeze the contractors mercilessly. Ain't corporate management fun, boys and girls?
Honeywell Aerospace succession plan = RIF the expert - get customer complaints - form a team of 20 to fix the gap - team recommends hiring the expert - RIFed expert gets hired back as a contractor at three times the salary because they are the one "industry expert". Obviously they had no succession plan!
This's successor's standard work;
1) Re-organization to create a sense or scene of progress out from predecessor's mess.
2) Make excuse for all new mess by blame the predecessor for old mess.
3) Bring in connected consultants to create even more mess, or a mother of all messes.
4) Get nominated as leader of the year( aka. Lord of a thousand flees), cash in all bonuses, jump ship and let the new successor deal with all the above messes.
Dumb and dumber ! That'a the plan.
To ensure that its employees do not succeed, under any circumstances.
DAVE COTE'S HONEYWELL SUCCESSION PLAN:
STEP 1: Keep stock price high by lowering costs (i.e. RIFs)
STEP 2: Sell shares
STEP 3: Pass on mess to the new incoming CEO
STEP 4: Thank Satan for helping out and then follow through with the terms of the contract you signed with him.