Key Staff Loss - 10 Ways to
"Disaster Proof" Your Business
By Rose Kasianiuk of RK Business Solutions
With the tight labour market in Alberta these days, the chance of losing
a valued long-term employee is a much more likely risk. Do you want to get
caught unprepared if a key employee leaves? Would your business stop
functioning? Could someone else step in? These are important issues to
consider and with some proactive planning, you can minimize potential damage
to your business. Here are some ways to do that and also improve your
business operations at the same time:
1) Create Job Descriptions - If you don’t have job
descriptions already, then create one for each position. Have each employee
create the first draft and then you review it. Have them describe what the
specific responsibilities and tasks are for each position and the frequency
that they need to be done. It is critical that all responsibilities are
captured, and it may be beneficial to have other staff review each other’s
job descriptions as well. Think about it...would you want to figure out six
months later that no one has been keeping prices current on your website?
Things like that do happen.
2) Create Annual Goals and Monthly Reviews - At the beginning
of each year (or anytime, it is never too late) set goals for each employee.
Hold meetings on a monthly/quarterly basis to evaluate how the person is
doing. This creates a record of what’s been done and what’s pending if
someone else needs to step in. This will also improve employee motivation as
each person will have clear goals and feedback on their performance. People
need to have clear expectations of what is required of them and they also
want to know how they are doing.
A simple tool that can help facilitate this process is having each employee
write a monthly letter to you. At the end of each month, on one page, in
bullet points, have them identify three things: 1) goals for that month, 2)
status of goals (completed tasks) and 3) goals for the next month.
3) Document Processes and Procedures - This can be tedious,
but it will also be beneficial if you need to find a replacement and get
them up and running quickly. They will have a blueprint of what they need to
do. Start with the critical processes and procedures first. Approach it as a
“step one, step two, etc.,” exercise from start to finish for each process.
As an added bonus, you may find duplicate work being done, which can be
eliminated to save time and money.
4) Back-Up Plan for Each Employee - Ask yourself: “What would
I do if this person left? Who could step in?” Have a back up plan on how you
could re-assign work until a replacement is found. Having plans in place
prior to someone leaving will allow you to quickly adapt to the change and
keep things functioning with minimal disruption. It is also easier to plan
when things are going “as usual” versus in “crisis” mode.
5) Cross-Train All Staff Members - Cross-training staff in
critical positions not only helps on a daily basis, but will prepare you if
someone leaves your company unexpectedly. People like to learn new skills
and this will also have a motivating effect on your employees. If you can’t
cross-train on certain positions, also consider how you could temporarily
outsource certain functions if need be.
6) Succession Plan for Key Positions - Once a year, take a
look at your key people (especially those in supervisor/managerial
positions) and put together a succession plan. If your office manager left,
is there someone else in your company who could replace her/him? What skills
would they need to develop in order to do that? Put together a training plan
for that individual. Do this for every key position.
7) Documented Project Plans for Key Initiatives - Do you have
written project plans with key deliverables and time-lines? Having a clear,
documented project plan will help if the project needs to be transitioned to
someone else. Make this a responsibility of the project leader and create
clear expectations on how often the plan needs to be updated. This also
creates more accountability and ensures that the project will stay on plan.
8) Customer Relationship Management System - If you have sales
people or customer service staff in your business, would you know what to do
with an existing customer or potential customer if your sales/customer
service person left? Whether it’s a paper file, Excel spreadsheet or some
sort of management software, start documenting the status of your customers
and prospective customers so you have a history. Would you want to have to
call a prospective customer and ask them where they are at in the buying
cycle with your company? Consider what impact that would have on their
confidence in your company. Your customers are one of your most valuable
assets. Know them and protect them. And consider this - it’s six times more
expensive to develop business from new customers than existing customers.
9) Staff Meetings - Hold regular staff meetings and ask all
staff to give updates on what they are doing. This way all staff get
information on one another in a quick and efficient manner. This will also
positively impact the effectiveness of your business processes, as people
will better understand how their job affects others and vice versa. If you
have staff working from home or others that cannot attend, then make sure
you communicate meeting minutes via email. It is crucial that all of your
staff are involved and informed.
10) Communicate Progress - Communicate company progress and
post results for everyone to see. Hold employee meetings. Include updates on
financial performance and key initiatives. This keeps the facts public and
let’s staff see the “big picture”. It is also very motivational as employees
will feel they are an important and valued part of the company.
Rose Kasianiuk, BCom, runs RK Business Solutions Inc. which provides
businesses practical, professional advice. She is also an accredited
Executive Associate of The Institute for Independent Business. 802.0018
rosekasianiuk@iib.ws |
