Succession Planning in Accounting: Preparing for Retirements, Turnover, and Growth in 2026

When key employees prepare to retire, it’s crucial to plan strategically to ensure continuity and minimize disruptions. Here are some strategies to help your business heading into 2026. Contact our team to learn how we can help with your staffing needs.

Make Sure Your Succession Plan Is Up to Date

If your business doesn’t have one, establish a formal succession plan, and if you have one that you haven’t looked at in years, it’s time to update it. Identify potential internal candidates for key roles and invest in their development to prepare them for future responsibilities. Part of succession planning includes pairing retiring employees with their successors or team members who will assume their duties. A mentoring period allows for hands-on training and ensures a seamless handover of responsibilities.

Address Retirements to All

Announce upcoming retirements to your team and stakeholders well in advance. Share your transition strategy, emphasizing steps to maintain stability and continuity. As announcements are being made, make sure to sit down with your retiring employees to have them compile detailed documentation of their responsibilities, processes, and critical knowledge. This may include client relationships, operational procedures, system know-how, and industry insights. It will also help you communicate to your teams the importance of the retiring employee’s replacement.

Offer Financial Benefits

Take time to celebrate employee contributions. Recognizing someone’s dedication with a celebration or acknowledgment event shows other staff how much you value your teams and thus leads to lower turnover. Publicly appreciating employee contributions, including retiring staff, boosts morale and fosters a positive workplace culture.

Get Creative

It is possible to retain the Baby Boomer workforce as an alternative to retirement. Consider a part-time schedule or a flexible schedule for this audience. Seasonal or short-term work might be intriguing to them. This will give them the opportunity to work when they are not traveling the country or visiting grandchildren. Providing this flexibility lets them know they are valued and can give them a sense of purpose. It also allows you to scale up and grow.

PrideStaff Financial has consistently won awards for exceptional client satisfaction. Our highly skilled staffing consultants can support your management teams in an ever-changing work environment. Contact us today to learn more.