How to tackle the loss when a Key Employee Leaves

Key Employee Leaves

Every person dreams of having a perfect
career. It is not always possible staying in a single organization and may need
shifting to a different organization to get the growth that one wishes for.
Though few companies are successful in retaining their employees for long some
do let go of their employees as it is not always healthy to keep an employee
who many have set a different target.

Many HR agents follow various methodologies
to curb attrition in their organizations; however there are some that you just cannot
due to the better offers or the varied fields of interest. Making an
employee serve the notice period gives the organization enough time to procure
a replacement or train another employee to take over the responsibilities. This
may be easy for the low key roles but becomes a challenge when it is a crucial
designation that an employee is signing off from.

Every organization needs to understand the
possibility of this happening with any of their key roles and should have a
stringent plan to ensure work flow is not impacted in anyway. A standard plan
should be chalked out that is adhered to strictly so that nothing is missed
out.

Here are few things you need to do to ensure your business is equipped to tackle sudden departures from the workforce of key skills.
  1. Notice period: Ensure that the
    information with regards to the resignation is given well before time so that
    you have enough time to equip another employee for the position or hire someone
    else. Make sure that the notice period is well defined for every position such
    that every employee is bound to serve the notice period unless of course
    exceptions arise.
  2. Stay well documented: Make sure that
    every task that the individual was responsible for is well documented such that
    the company has records of projects and products that were handled. This allows
    a company to take over from the point that was left over and does not need to
    build on it from scratch. With a good repository of data and documentation to
    follow up on the movement of a key role employee will reduce the impact on the
    workflow.
  3. Secure accesses: As the day of departure
    nears it is imperative that passwords and key tasks are taken over with
    details. For e.g. individual access to a restricted folder and company
    accounts. These passwords must be secured and changed to ensure that the
    employee does not have access to them post exit. These are high risks tasks and
    should be considered on a priority.
  4. Inform the stakeholders: Many employees
    in the higher levels come with the benefits of trusted and profitable contacts
    for the organization.  As such an
    employee exits the organization you need to ensure that you do not lose out on
    these contacts and assure them of a continued service as before. Making a list
    of such contacts is extremely important so that you do not lose out on business
    due to the departure of that one employee. This would also mean that you need
    to inform the stakeholders in the company to ensure that they are up-to-date
    with the loss of the key contributor from the workforce.
  5. Boost the morale of the team: One of the
    most important task however is to ensure that the team that was reporting to
    this key employee is given the assurance they need. Do not downplay the moment
    to minimize the impact of the departure. Give the due respect and celebrate the
    term that he served and contributed to the company.

Conclusion

Find the right fit for your organization.
Get someone who will understand the working of the company and contribute
exponentially towards the growth of the business. You cannot stop anyone from
leaving the company as everyone has their own career plan and will take
decisions as per their priorities. But make sure that every departure is well
executed to give the best experience to the employee.

Many organizations now employ intelligent HRMS softwares that
automate the induction and exit formalities as to make it flawless. With a
unified platform to execute every step of the exit formalities you are sure to
leave a lasting impression on the employee and those associated with him.

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  • ONPASSIVE
  • ONPASSIVE
  • 8 April, 2021
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