The King is Dead, Long Live the King

85% of Australian bosses have not yet appointed their successor according to a survey by Talent2, Australias leading HR firm and, of the 15.1% of bosses who have thought about who comes next, most have appointed a male successor.

But, says Mr Ian James from Talent2, 36.4% of females with a future male boss say they would not be happy working with the appointed male successor, and 36% of males fear working with their future female boss.

Mr James says succession plans are crucial to avoid operational disruption, cultural change and limbo time without a leader at the helm.

"Small-business owners in particular do not want to see the business they have built from the ground up fall in to the wrong hands and fall in to disrepair. By having a succession plan and appointing a suitable successor, you can help to ensure the health of your business well into the future."

"Mentoring, training staff in new skills and job rotation are all simple ways to get a succession plan in motion and will help to identify potential successors."

"Identifying key performs early on and developing them as leaders will ensure the company is left in safe hands."