Executives emphasize succession planning.

• Position: Your Life - Paul McDonald - Brief Article

Executives plan for many contingencies to protect their businesses, including who will one day fill their shoes. In a survey by RHI Management Resources, a national consulting services firm providing senior-level accounting and finance professionals on a project basis, they confirmed the value of identifying and grooming a successor. Seventy-two percent of those polled said they are currently preparing someone to take their place.

"Succession planning lays the groundwork for a smooth transition when a manager is ready to take the next career step or in the event he or she leaves unexpectedly," indicates Paul McDonald, executive director...