45% of Singapore finance bosses want outsiders to replace their jobs

What could be the reasons behind it?

According to Robert Half, they asked 1,256 CFOs and Finance Directors from 17 countries this questions: If you suddenly stop working tomorrow, who would get your job?

150 of the respondents were from Singapore companies.

The survey found only 14 per cent of finance leaders expect the job to go to a local internal candidate. The vast majority of Singapore finance leaders favour employing someone from outside the company (45 per cent) or bringing in someone from another country who works for the same company (26 per cent).

Singapore finance leaders are the least likely of any of the countries surveyed to favour a local internal hire as a replacement for the top job, followed by Switzerland (16 per cent) and Hong Kong (17 per cent). The global average favouring an internal hire was 28 per cent. 

The survey found deputies and internal talent are also likely to be overlooked when it comes to planned successions.

When asked if they had identified a successor, 44 per cent say they had yet to do so. When asked why no successor has been identified, the most common response is that the internal team lacked the talent to do the job (44 per cent).