Talent shortage and attrition are two of the most glaring challenges facing Human Resources (HR) across the globe. While organisations lay a larger emphasis on retention strategies and undertake various employee engagement initiatives, they need to prepare to face the current market scenario. According to the Dale Carnegie Global Leadership Study 2016, Indian workers display high levels of job satisfaction. Yet, 70% of these individuals plan to leave their job within one year. With a shortage of talent and a sea of opportunities available to today’s job seekers, attrition is a reality organisations need to be prepared for.
Below are three ways organisations can handle the exit of employees:
Have an open conversation
When an employee quits it inevitably leads to a certain level of disruption and stress. However, utilizing these situations as an opportunity to reflect on existing company policy and structure is imperative. Having a transparent conversation with the employee will give you a chance to understand what needs your organisation has not met, that a competitor possibly has. Often, it could be compensation or locational conveniences, which are factors you may or may not be able to change. However, these conversations could throw light on specific aspects of the organisations culture that if revised,could help retain existing employees.
Many individuals are advised not to burn bridges with their employers when they quit. This hold true for employers as well. Handling an employee exit gracefully and professionally is vital in creating an open, supportive environment for all your employees. If an employee gets treated as an outsider from the moments/he is quits it leaves a negative impression in the eyes of the existing staff. Instead, an organisation that supports an employee’s decision to move on demonstrates that the company wants the best for its people, thus making the employees feel cared for. It also shows that the company truly values its people and respects their life decisions. Maintaining goodwill with an ex-employee cannot be emphasized enough. These are individuals who no longer have an obligation to the organisation and will speak freely about their experience with the company. Ending the relationship negatively can only tarnish the reputation of the company. On the contrary, if an individual has had a positive experience with the organisation, s/he can potentially be a great asset when it comes to promoting your employer brand.
Succession Planning is crucial to an organisations stability and success. Companies cannot always predict resignations – some might be sudden and unexpected. Irrespective of the circumstance a strong succession plan is an essential component of the overall business strategy that helps safeguard the company against setbacks faced by the loss of an employee. Organisations with a strong succession plan are more capable of managing change, ensuring the smooth transition of the replacement to a new role and generally have stronger leadership in place.
As an employer, the way you handle a resignation decides the outlook the rest of the company will adopt on employee exists. It is therefore essential to ensure that these resignations are handled with careful insight and wise discretion, thus setting a positive precedent within the company.