I would appreciate any insights on this.
Over the past year, my company has undergone a major takeover and restructure. Numerous director-level roles have been made redundant, alongside a broad reorganisation of executive and lower-tier management. Additionally, we have taken on extra staff at manager level within my team.
Interestingly, those who might be suitable for these roles have been actively discouraged from applying, even for promotion opportunities at no extra pay. Many executives have been told that career progression isn't available here and that they must look elsewhere.
Can someone help me understand the rationale behind this approach? While external hires can bring fresh ideas, hiring at a higher salary than internal staff seems inefficient. Promoting internally and then hiring below them could save costs.
Any insights would be greatly appreciated. This situation isn't limited to a few roles but spans multiple positions.