Planning for Success(ion)

By December 20, 2018 at 5:31am

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 51% 31% 62% 52% 68% 60% 45%
No 49% 69% 38% 48% 32% 40% 55%

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 59% 49% 64% 65% 41% 59% 72%
Too busy focusing on other concerns 21% 30% 19% 20% 29% 19% 7%
No qualified candidates at the company 18% 22% 18% 6% 27% 22% 17%
Not a priority since they would no longer be with the company 2% 0% 0% 9% 0% 0% 3%
Other 0% 0% 0% 0% 4% 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 300 CFOs in Canada

Responses may not total 100 per cent due to rounding.

© 2018 Robert Half Management Resources.

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