Planning for Success(ion)

By on December 19, 2018 at 6:18pm

 

 

PLANNING FOR SUCCESS(ION)

CFOs reported whether they’ve identified a successor for their position

    TOTAL COMPANY SIZE 20-49 EMPLOYEES COMPANY SIZE 50-99 EMPLOYEES COMPANY SIZE 100-249 EMPLOYEES COMPANY SIZE 250-499 EMPLOYEES COMPANY SIZE 500-999 EMPLOYEES COMPANY SIZE 1,000+ EMPLOYEES
  Yes 52% 37% 49% 49% 58% 68% 54%
  No 48% 63% 51% 51% 42% 32% 46%

Those who haven’t identified a successor explained why

    TOTAL COMPANY SIZE 20-49 EMPLOYEES COMPANY SIZE 50-99 EMPLOYEES COMPANY SIZE 100-249 EMPLOYEES COMPANY SIZE 250-499 EMPLOYEES COMPANY SIZE 500-999 EMPLOYEES COMPANY SIZE 1,000+ EMPLOYEES
  Not planning to leave soon 64% 61% 76% 58% 55% 72% 59%
  No qualified candidates at the company 17% 18% 11% 14% 19% 17% 22%
  Too busy focusing on other concerns 14% 10% 9% 20% 22% 11% 18%
  Not a priority since they would no longer be with the company 4% 7% 4% 7% 3% 0% 2%
  Other 1% 4% 0% 1% 2% 0% 0%

 

5 risks of not having an identified successor

#1 Disrupts organizational productivity
#2 Takes legacy knowledge out of the business
#3 Puts strategic decisions on hold
#4 Impairs internal professional development
#5 Creates a protracted leadership void

Source: Robert Half Management Resources survey of more than 1,100 CFOs in the United States

Responses may not total 100 percent due to rounding.

© 2018 Robert Half Management Resources. An Equal Opportunity Employer M/F/Disability/Veterans.

 

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