A February 2021 report by Achievers Workforce Institute found 52% of employees in the U.S. and Canada plan to look for a new job in 2021, according to www.fastcompany.com. What do you do when one of those job-changers is a highly valued employee at your company?
When a great employee quits, it can be an emotional, stressful experience. But how you react can significantly affect your business. Following are some steps that can help.
- Take a breath. Instead of reacting at that moment, set a later time to discuss the decision. This gives you time to digest it and reflect on it.
- Think about immediate needs. As you consider the next steps, start generating a list of questions you will need to ask and critical tasks that must be assigned.
- Ask why. When you meet with your employee, ask for honest feedback about why they are leaving. It is an opportunity to find out whether there are things you can improve about your company culture or whether you can fix the reasons the individual decided to leave.
- Consider a counteroffer. Counteroffers are not always a good idea but can be an option. Try to understand why the employee is leaving—it could be for personal reasons or because of an issue you can fix. If it is the latter, try to address what can be done. However, know that by the time the person has come to give notice, his or her mind often is made up.
- Tell your team. Inform your team as soon as possible rather than waiting for word to spread. Sharing the news yourself allows you to reassure team members.
- Consider what your company truly needs. As you think about replacing the individual, there may be an opportunity to hire someone who has the skills necessary to help you grow your company.
- Stay in touch. It typically is a good idea to part on good terms and leave the door open for the future. Valuable employees may be interested in returning one day if their careers or aspirations change.
