One of the many losses a business suffers is employee resignation, the loss is even more when a key employee is about to resign.
This is called Key-Person Dependency Risk For instance this happens in an organization when the members of the team’s relies so much on a particular employee.
Usually this employee has some knowledge, creativity or experience that makes him appear very important to the business.
If he/she should resign, the organization would suffers the loss of the results achieved by his expertise.
Employees are free moral beings therefore have the right to leave an organisation when they want to.
In organisations with a good structure. employees follow through the laid down resignation process.
This gives the organisation time to find a replacement but it would take a little time for the employee to start achieving results as the organisation requires. However in businesses which are not properly structured, employees resign at will.
As a business owner, it is your duty to protect your business from these negative experiences.
Ask yourself these questions
These are important questions you must find answers to
Ensure all processes and procedures are properly documented. This would serve as a guide to anyone who will fill in that position when it becomes vacant.
Building systems is an essential part of a proper business structure. This helps you to protect your business.
You must ensure you build a culture of knowledge sharing such that employees who are skilled will share knowledge with others. This helps to reduce the negative effect a business feels when an employee resigns.
Job shadowing happens when a new employee learns by closely watching the duties of existing employees in the organisation.
while Job sharing is a type of flexible work arrangement where two people work part-
These options ensure that there are 2 people in the same organisation who has the capacity to handle the same position. If one of the employee resigns, the business is not at risk because the person will fill in the vacancy.
is a process for identifying and developing new leaders who can replace old ones when they resign or retire. This increases the number of experienced and capable employees that are prepared to assume these roles as they become available.
Start training someone within your organisation and help them develop the skill needed to fit into this key position.
You can also consider outsourcing some activities done by this key employee. This is one of the cheapest way to handle some business activities so the company can focus on its core.
Find capable hands or organisations, ensure to read through the contracts properly and understand them.