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.