A resignation - like being dumped - can often feel very personal. Particularly if the person in question has been with you for some time. Particularly if you think they are critical to your business. And particularly if you let it.
I mean, it's sod's law isn't it? Just when you think everything is teed up to have a great 2018: Goals in place? Tick. Marketing lined up? Tick. Sales Pipeline trending the right way? Tick. - when someone pops their head around the door clutching an envelope and utters a few words in 'that' tone …”er, can we have a quick chat?’. And it's the ones who are the most valuable to you which always hit you hardest.
Of course, not every resignation is bad news. If you are planning on going through a restructure or making redundancies and the person in question was going to be affected, then you may have just saved yourself a bit of heartache ( not to mention a few quid). But most are not wanted, downright annoying and expensive too.
With an average employee in the professional sector costing up to £30k to replace , the best way to ensure that you handle this well, is to prioritise keeping your team as you would your clients. And plan for it by doing some of the following:
- At budgeting time, include staff turnover in your forecasting figures and set targets for turnover. The UK average is approximately 15% but this rises to closer to 20% in the digital sectors. You do need to keep new ideas flowing within the business and adapt to your changing model, so not all turnover is bad and it’s likely that you will want to see some movement to avoid becoming complacent, but set targets for this which you can check progress against. It’ll be less of a surprise.
- Identify your ‘keepers’. The people which, if you lost, you would be stuffed. And then plan how you are going to to show them the love. To support them in what they want out of the business. Too many business leaders don’t take the time to speak to their teams on a 1-2-1 regular basis to uncover what it is that their people want and show support by their actions. Oh, for the times when I’ve seen an account manager hauled over the coals after a devastating client loss. “When did you last meet with them?” is often one of the first things their manager will ask after the bombshell has been dropped.” How did they seem? Were they unhappy? Did they say anything which gave you a clue?….”
- Take the time to get to know your team. To know what they want out of life on a wider level than just what they are doing at work. I know it’ll come as a shock to many, but most people don’t simply dream of doing better at work! So find out what possibilities lie for people within the confines of the business and how they can help them get to where they want to be.
And I’m not saying it’s easy by any stretch. It’s a hell of a commitment to meet with your team each week/ fortnight/ build a relationship/ keep it going through the good and the tough times. But people are less likely to leave a place where they feel valued and listened to than anywhere else. And even if you can’t keep them, the chances are that they will feel more comfortable giving you a heads up that they may be off, allowing you a bit more time to plan and handover.
But back to that resignation. In practical and immediate terms, you have a few options:
- You can take it very personally, considering it a personal slight that someone would not want to work from you and act out in that manner. One boss I know didn't speak to their team member for their ENTIRE notice period, leaving him to work in an isolated office away from the rest of the business such was the disgust they felt at their team member leaving them. Their maturity wasn’t lost on the entire company...
- Or ( a popular option) you can launch into telling them all the reasons why this is all wrong for them and that if they stayed for another £5/ £15k/ £25k then you will be able to fix whatever it is they are concerned about. One business I know spent more money on retention bonuses for those who had resigned in a particular year than they did on the entire bonus pot for existing employees who had delivered for them that year. The‘retained’ employees in this instance lasted on average another 3-6 months before bailing out for real, leaving a red faced boss and disgruntled colleagues who had found out all about the separate arrangement...
- Or you can listen to what they are saying. And then really listen. And learn from it. On the odd occasion I have seen someone ‘bought back’ by their business when they’ve resigned, it’s been because the relationship and loyalty was there already, they’d just let things get stale. The drama of resigning was enough to wake both parties up to see that there were other ways for the team member to grow and they’re very happy.
Option 3 doesn’t always mean they stay and you may well still have to say goodbye to someone you would rather not. But at least by taking the time out to find out what is really going on, you will truly understand why your business is not right for the person standing in front of you. But why it may be for another time. Ah yes, Boomerang employees. Now there's another post....