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Losing Staff

Losing Staff

MY KEY STAFF MEMBER HAS JUST RESIGNED!

SHOULD I CONVINCE THEM TO STAY?

Losing Staff

Finding good staff is hard. Keeping good staff is even more difficult. With new opportunities a plenty, with such networking sites such as LinkedIn paired with an ever-increasingly fleeting employment tenures, keeping good staff is a permanent battle.

Business Insider states that Millennial will take up 75% of the workforce by 2030 and when surveyed, 25% of them said they expected to be with an employer no longer than year. That is a big turnaround of staff.

If faced with the resignation of one of your key staff members (Millennial or not), should you let them go or convince them to stay?

Some thoughts…

 

  1. Have they already left the building?

Your staff member may have only just informed you of their resignation, but they very well may have made the decision weeks or even months ago. They may have been biding their time, and no amount of convincing may change their mind.

 

  1. Money isn’t everything

The most common way of keeping staff is to offer to match the new opportunity that has enticed them away. Is it more money? More responsibility? Less responsibility? Whatever it is, the grass has appeared greener on the other side. Offering more compensation may make them consider their options, but in most cases, money isn’t everything.

 

  1. Change Can Be A Good Thing

Employing and training new staff does cost money, time and resources. However, it also brings in some fresh blood with bright new faces and eager positivity, which can go a long way in boosting staff morale and productivity. You never know who lies around the corner.

 

By ensuring you have a well cross-trained staff and ensuring no one person is irreplaceable will ensure the ongoing longevity of your business and no lost sleep when key personnel seek to find greener pastures.

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Bottrell Group
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