You’ve been really focused on your business and your employees are engaged and productive. Completely out of the blue a key member of your team hands in their notice. You might initially feel blind-sided and panicked. It can after all be a serious blow having a significant impact on the business, especially if it isn’t managed effectively.
Dealing with change is a necessary element of managing any business. The more dynamic and adaptable you and your business are, the more effectively you can navigate change. Here are some steps to follow to manage this change and transition period effectively.
Establish the next steps
The loss of a good employee is always hard and you could try making a counter proposal to keep them on board. Don’t rush in and promise them something that you can’t deliver. You shouldn’t use guilt, coercion or be aggressive to try and get them to stay either.
Remember to wish them well and support them in their decision. You don’t want any ill will, and you don’t know what the future holds so don’t close the door on a valued member of the team.
More than likely there is a policy in place for the notice period but don’t make any assumptions. Confirm the precise date that they will be leaving and begin the administrative arrangements involved with this, including payroll.
You need to make a plan to move past the resignation so that it doesn’t affect your business in both the short and long term.
Communicate
Ensure that you communicate with the rest of your team about the change and ask for their help and input. Being open and honest will build trust and reassure other employees that a plan is being put in place.
The impact of the resignation will likely be felt across the team and they will need reassurance that everything is under control. With effective communication and well-integrated team work you can reassure staff and allay any concerns they have.
Continuity plan
Establish a clear hand over plan and any training or gaps that may be required in the interim of a new member of staff starting. Recruiting takes time and can be costly, so you don’t want to rush this. Utilising your exisiting workforce could be a solution but don’t make unreasonable demands on them. It could be an opportunity for another employee to step up and broaden their skill set and experience.
Exit interview
Carry out an exit interview, it will allow you to gain valuable feedback about why your member of staff decided to leave. If your business doesn’t offer opportunities for advancement or a competitive salary, then your key team members and talent are likely to leave, perhaps to your competitors. You can’t expect to retain everyone you recruit, but by tracking why people leave, you can improve your chances of retaining key team members and your top talent.
Consider whether outsourcing the exit interview may provide you with more reliable and meaningful information, as the boss you may not always get the complete truth!
Losing a key member of the team can be a very difficult change for any leader to navigate. Always remember to thank them for their contribution to the business and have a clear plan in place to manage this period of change and to maintain productivity and staff morale.