If you’re a business owner or manager, you know how inconvenient it is to have a key employee leave: Not only does it cost time and money to find a replacement, but you also need to train the replacement and that can sometimes be a slow process. It is becoming more imperative for a business to examine key roles throughout the organisation, and determine how the absence of an able worker might weaken the company.
Here is how we suggest you develop a contingency plan to help lessen the impact of an employee’s departure on the business:
Identify business impact: Identify how a key person, i.e. your best sales girl leaving would negatively affect sales, revenue and business processes.
Look at the current provisions: It is vital that there is an able replacement for important jobs, and a policy in place that allows for them to seamlessly assume their new position. This entails having a succession plan; if someone leaves, do you have someone who knows that job role to assume the position?
Develop a plan: If you do not have a succession plan, establish one now. This includes providing training for existing employees for another job role, or backing up sensitive information so it’s available to more than one person.
Training/updates: Train potential replacements for the jobs they might fill. You can have them perform some of the responsibilities for roles they may one day assume, and/or exposure them to a higher-level position through projects and training programs. Have your manager keep an eye out for promising employees, and revisit the process at regular intervals to identify any gaps.
Losing a talented employee or manager can hurt your business’ performance, and smart companies are quickly realising that they are only as good as the quality of their workforce. It is therefore crucial for your business to ensure that it has a process in place for securing the best employees at all times.