If You are Prepared Losing Your Star Employee Can Create Opportunities

Over the years, most leaders I know are devastated when their star employee decides it is time to move on. I view the departure as a success story for them, the organization and me as their leader. The star is leaving because we help them grow, so they are ready to take on new challenges. While they were with us, they made our organization better. So, it is time to celebrate their success.

While it costs the organization in recruitment, hiring, institutional knowledge and customer relationships, it creates opportunities for others to shine. Moreover, when handled correctly you create an excellent brand ambassador.

According to Gallup, fifty-one percent of employees say they are searching for new jobs or watching for openings. It would be best if you prepared in advance — as this will happen.

Have A Growth Mindset

You have a choice in how you view your challenges and setbacks. With a growth mindset, you see problems as opportunities. How you deal with the loss of a star employee will have a profound effect on your organization.

Most companies do not think about an employee's exit until they put in their notice. However, that is too late. The person has already made up their mind to leave.

Using an evidence-based approach you can pinpoint the problems in the employee life cycle that are causing bad experiences and increase turnover. This understanding is essential for you to know what to change. Our insights help you understand what to change you need to your talent management practices. Then we coach your leaders how to implement processes to improve retention.

You can prevent regrettable turnover. Fifty-two percent of exiting employees say that their manager or organization could have done something to prevent them from leaving their job. Also, 60 percent of exiting employees talked with someone in the organization about their intent to go before they decided to leave their job. However, only 28 percent say they discussed leaving with their manager before they left.

Create Am Exit Strategy Playbook

Great leaders have an exit strategy playbook set for their managers and teams when employees leave whether it is the employee’s choice or the employer’s choice.

Without proper preparation, the leaving of your star employee creates emotional and personal challenges within your team as well. Team morale may suffer, along with productivity and increased confusion about roles.

Who's next?"

Rumours start about who can take their place. There is often a feeling of "Who's next?"

When people leave, there is always the question where they forced out. Some managers worry that some of their other top performers follow the person to the same competitor.

Team members, managers — and even executives — may have a tough time imagining a future without their star employee. Unfortunately, these folks only see the absence of good talent rather than the potential of the team that stays and the innovative ideas that will be generated by team members in different roles.

What is more, the direct supervisor may take it personally. As mentioned above, about half of your employees are open to a new job. However, 61 percent of employees working for a bad boss are actively looking for another job vs. 27 percent of those working for a good boss.

Perhaps the supervisor is a bad boss. Take our one-minute quiz to find out.

Like a rough breakup, the manager may feel rejected, regret, and obsess over "what ifs." They wonder if all the energy invested in the star player was a waste. Your exit plan playbook needs to consider how you will supply support for this manager.

With so much on the line — in terms of your external employer brand and internal morale — you cannot allow the quality of the employee exit experience to hang primarily or exclusively on the unpredictable emotions of a manager. We supply insights on how to create an exit program that turns exiting employees into brand ambassadors.

Positive Experience

When an employee resigns, there is considerable important work for you to do, before they leave your team. You want to make something good out of a potentially harmful situation.

An employee who has a positive exit experience is 2.9 times more likely to recommend your organization to others than an employee who has neutral or negative experiences.

Exceptionally talented individuals are more likely to network and socialize with other incredibly talented individuals. Thus receiving referrals from your best former employees should be part of your recruitment strategy.

Organizations cannot allow the quality of the employee exit experience to hang primarily or exclusively on the unpredictable emotions of a manager.

So, what makes a positive exit experience? There are three key elements:

The Employee Needs to Feel Heard

Employees need to feel like someone is listening to their concerns and that they had a chance to express their feelings before they left. Many people talk to someone before they decide to leave an organization. However, it is not always their manager.

Recognize the Employee’s Contributions

Forty percent of former employees strongly agree that they are proud of their work at their former employer. However, feeling proud of your past work is strongly correlated with a positive exit experience. Managers need to make a special effort to recognize and celebrate an employee's work before they go.

Let them know that you are available to be a reference for them for any future job, as they will continue to climb.

Make the Employee A Brand Ambassador

Your organization should have a way to connect former employees back with the organization, where they can offer referrals and keep a favourable impression of your brand. An alumni network or similar program may be a benefit here.

In short, when losing someone special from your organization, it is vital that they have a chance to communicate their feelings, hear how they made a difference, and learn how to stay connected.

As much as possible, managers should leave the door open for a future relationship.

Communicate and Celebrate

Create formal and informal opportunities to communicate including an exit conversation with a manager, encouraging celebratory exit routines, and exploring creating an alumni network program. Have a team gathering to wish them luck and celebrate the success they had with the team. Ensure you recognize some of the folks who are staying as contributing to the success.

Operating After Your Star Employee is Gone

The departure a key player provides your teams with an opportunity to be creative, question old habits and recommit to their mission.

Here are some ways that you can make the most of an unexpected departure:

Leverage Your Team's Strengths

Your organization may already have the resources it needs to be still successful — it may just require some creativity and a return to basics. What talents have been lying dormant? What skills have never been shared or developed?

We encourage you to have succession plans in place, where you know the behavioural strength of every employee. You can quickly supply learning and growth opportunity for high potential employees.  It helps to ensure they stay with your firm.

You will also at once know if you have the talent inside the organization to step into the role. I mistakenly often required an internal and external competition for every vacant position. It is better to use a best-fit staffing approach. It is best if you know you have someone to put in place. Consider making the appointment before your former star leaves. A few days of overlap never hurts.

Find New Career Development Opportunities

Career growth is one of the top desires of today's worker. Moreover, many organizations do not have many opportunities to advance. Losing a star performer supplies a way to engage better and keep others.

See This as An Opportunity For Skills Development And Growth

Every person has an inner drive to grow and develop. Instead of viewing a shifting workload as a burden, managers can reframe the situation as an opportunity to upskill their current team to a new level.

Lift Your New "Stars" With Incentives and Recognition

Managers may have lavished praise, recognition, and financial rewards on their top performer. They should not forget to keep this up — celebrating one's team may matter now more than ever.

Concluding Thoughts

Your remaining team members naturally look to their manager in challenging times. Show new appreciation of those on the team who step up. Managers may need more support from leaders to be confident coaches. We provide a ladder of leadership to develop your future and existing leaders.

That means being honest about the problem, focused on the team's assets and be confident about the future.

After proper parting rituals and the best "goodbye" they can muster, it is time for managers to give their followers a future to believe in.

With a little extra attention, feedback and praise may be all some teammates need to become your next top performer.

I recommend that all managers have weekly check-ins with your team members, so they experience some form of coaching at least once per week in the form of recognition, constructive feedback or encouragement. It retains employees and sets you up to be a great boss.