Survey shows nearly half of CFOs lack succession plans

January 9, 2019

Robert Half Management Resources recently surveyed more than 1,100 U.S. CFOs and found that 48 percent do not have a succession plan.

A succession plan is an important business tactic in order to avoid disruption when an executive leaves. Without a plan, there can be organizational disruptions, decision postponement and an extended void in leadership.

Research suggests that smaller businesses may be less prepared to deal with leadership changes. More than half of the survey respondents said they do not have a plan because they do not intend to leave the company.

Although succession plans are critical, overlooking them is common due to other pressing business issues. In order to have a successful business, it is imperative to identify and train successors.

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