When asked if a specific T20 coach should be in place before his departure, Bayliss said: "The short answer is probably 'yes'.
"Eventually you will have specialist coaches as well (as players). That will obviously be a discussion with higher levels, with (ECB director of cricket) Andrew Strauss and people like that.
"Obviously, Paul Farbrace, I think, would do a grand job. When I was a number two, years ago, a bloke said to me the role of the number two is to make the number one look good. I think he's done a good job in that respect."
England were knocked out of the T20 tri-series on Sunday after a win against New Zealand was not enough to proceed to the final against Australia in Auckland on Wednesday.
Bayliss said he has been considering stepping down as T20 coach because of the increasing demands of the job across the three formats.
"From the start of May last year, I think we have 21 months of cricket out of 23 – and we're halfway through that," he added.
"It's tough and that's what we're paid for and we love doing it. But it doesn't make it any easier."
England will face host New Zealand in the first of a five-match one-day international series on Sunday.
(Reporting by Hardik Vyas in Bengaluru; Editing by Christian Radnedge)
