03 July 2008

What if one of your key personnel decides to retire or leave the company?

Good Day Australia,

Driving to work today I thought of how people get paralysed when they are caught up with an expected situation and decided to post something about it. I hope you all enjoy this one.

When you feel everything is going according to plan, an unexpected resignation or premature retirement letter reaches your human resource department. What’s your reaction?

Did you think of talking to the person trying to understand the reason behind the decision? Is it possible to reverse this decision?

In case that the situation is irreversible, an action plan should be developed and followed.

Informing all your team about the resignation through a formal circular to the staff clarifying and prevent any sort of negative rumour is a major step.

A next candidate for the position should be appointed; the decision is if an internal or external person will take the job. In case there is not a perfect match there is a possibility to wait and take the process slowly as there is nothing worse than hiring or promoting someone that is not suitable or is not ready.

After stabilising the situation meetings could be held to determine how things will be from now on and engaging the staff in general as a team to get through together.

As a suggestion, do not panic because this feeling can be passed on to others and the situation might get out of control. Always have a back up plan around crisis management involving any risk that can affect your business.

Have you had any sort of experience related to losing a key employee? How did you manage it?

Our Vantage Performance team is looking forward to interacting with you again.

Have a great day,

Vantage Performance Team
Turnaround Management Specialists

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