Employees are the backbone of any organization. For your business to succeed, you need a skilled and motivated workforce all aiming towards fulfilling your company goals and objectives. But what if your top employees want to quit?
Learn what steps to take and what to consider to ensure either a successful retention or an amicable release.
Evaluation as the First Response
When one of your employees expresses the desire to leave, your first response should always be to evaluate. Instead of showing negative emotions, think of this as an opportunity. Many employers don’t even get a heads-up. They simply receive resignation letters from their employees.
To make the most of this situation, the following are the best ways to initially respond:
1. Discuss their Motivations
Take the time to schedule a one-on-one meeting with your employee. Meet in a private place where they can feel confident to share their thoughts and feelings. Remember that there are different reasons employees quit jobs.
Ask them what motivates their interest in leaving the company. Give them the opportunity to respond without being judged or interrupted. Show empathy towards their concerns and validate their experiences.
Once they’re finished talking, you can seek clarification. It’s also ideal to take note of key points in your conversation. If the employee isn’t expressive, ask open-ended questions that may help you better understand their motivations.
2. Assess the Situation
After the discussion, assess the situation at hand. Focus on the value your employee brings to the table. Review their performance records and contributions. How would their release impact your business and operations?
During this step, it’s important to be detail-oriented. Think of everyone and everything that could be affected by your employee’s departure. This can include the team they belong to and the projects they are part of.
3. Consider the Pros and Cons
Now that you have a good grasp of the situation, think of the pros and cons of losing your high performers. The following are some advantages and disadvantages that you may encounter.
Cons:
Loss of Expertise – When you allow your top employee to leave, your company loses his or her specialized skills and knowledge. You will no longer have access to the wisdom and ideas they can offer.
Project Continuity – The workflows of your ongoing project may be disrupted. The loss of a member and the time needed for a new hire to acclimate can cause issues with project continuity.
Recruitment Challenges – The current job market is filled with competitors looking to fill roles similar to your open position. This can create a challenge for you to find top employees in a short period of time.
Pros:
Fresh Perspectives – Although releasing employees has many cons, it also has benefits. For example, it creates space for new people with fresh perspectives and innovative ideas that you didn’t have before.
Internal Promotions – The departure of an employee opens opportunities for internal promotions. This can boost morale and provide career advancements for your other deserving employees.
Renewed Team Synergy – Sometimes, a change can bring positive energy to teams. They have the chance to create a brand-new synergy that could be more motivational and energizing than their last.
Potential Counteroffers
Consider carefully after speaking with your employee. Is there a compelling and unavoidable reason for them to leave? For example, does it involve caring for a sick family member or moving to a different city?
Perhaps it’s a situation they can still change their mind on. They may have received a job offer from a higher-paying job with more benefits. They might be experiencing friction or stagnation within the company.
After evaluation, you can decide whether you’ll try to retain your high performers. A company can’t prevent an employee from leaving or refuse their resignation. Instead, you can choose to negotiate topics that would convince them to stay.
Before making any offer, carefully consider the ability and capacity of your company to follow through. Avoid short-term fixes for deeper issues.
The following are some examples of potential counteroffers.
1. Salary Increase
According to a survey by FlexJobs, 50 percent of employees consider a career change because of salary.¹ Professionals are willing to quit their roles if they get a higher offer from other organizations.
This can be caused by many factors. For example, your employee could be a breadwinner and require more money to meet his or her family’s basic needs. It’s also possible that they have a monetary goal they want to reach.
Regardless of their reason, a higher salary is the best counteroffer for employees looking for jobs with higher pay. If you’re able to provide a competitive offer, they may decide to stay with your organization.
2. Professional Development Opportunities
Another reason that some employees quit is they don’t feel fulfilled with their current responsibilities. Meanwhile, others seek different job openings because of the lack of career advancement in their current organization.
If your employees leave because of any of these reasons, a good solution may be to offer opportunities for career development. Put in the effort to further their education and hone their skill through planned training and workshops. You can also create mentorship programs that would motivate them to stay with your business.
3. Promotion or Advancement
To discourage your employees from leaving, it’s also an option to move them vertically within your company. This means offering a new project or role that would fit their career goals and objectives. Ultimately, this option can make them feel fulfilled as professionals which can lead to satisfaction working for your company.
Steps to Release an Employee
On the other hand, if you decide to release your employee, it’s important to end your partnership on a good note. Here are some steps you can consider when accepting someone’s resignation.
1. Conduct an Exit Interview
Schedule an exit interview and prepare open-ended questions that can help you document their reasons for leaving. Unlike your initial discussion, this interview is official. It should be documented for the sake of your business.
Be sure to listen actively during the interview. Assure your employee that everything said will remain confidential and will be used solely to create improvements within the company.
Remember to stay professional and express your appreciation for all of their contributions thus far. You can also offer support during their transitional period. This can be in the form of recommendation letters or providing professional references to aid their job search.
2. Agree on the Notice Period
During the meeting, it’s important to also agree on the notice period. Ask your employee to officially submit their resignation letter. Review their contract and use it as a basis to identify a notice period.
In this step, it’s possible for the employee to negotiate. Whether they’re asking for a longer rendering period or a shorter one, remember that you have the right to make the decision. You can even reject their requests and follow what’s written in their contract.
Decide on a final working date. Once this is done, write everything down in a formal document. Ensure it is signed by both you and your employee. Give a copy to all concerned parties, including your human resource team.
3. Plan for Knowledge Transfer
To ensure project continuity, it’s essential to identify key responsibilities and tasks that need to be transitioned. These can be communicated to the new hire who will fill the position, or the team member who will take over.
If there are any skills, knowledge, or information that are specific to the role, you need to plan a successful knowledge transfer. This can be done in different ways. For example, your employee can film an instructional video before they leave. You may also ask them to create a step-by-step documentation of everything the trainee should be aware of.
FILL YOUR WORKFORCE WITH SKILLED PROFESSIONALS
Whether you choose to retain or release top performers, it’s always necessary to have skilled professionals in your workforce. This is where Masis Staffing can help your business.
With years of experience, we are skilled in creating successful matches. We can provide you with people that are equipped with the skills and experience you need.
Reach out to us now to learn more!
References:
- Fox, Michelle. “The No. 1 Reason People Want to Change Careers Is Better Work-life Balance. How to Make the Switch.” CNBC, 17 Aug. 2021, www.cnbc.com/2021/08/17/work-life-balance-is-the-top-reason-people-want-to-change-careers.html.
