Turnover isn’t an issue organizations face with just administrative and operations employees, it affects all levels of a firm’s hierarchy including C-level executives and upper management. Does your team have other players that could step up if a key position became vacant?
As the economy and job market improves, top producers and effective leaders may be recruited or start looking for a better deal. This possibility is real, and if organizations aren’t proactive, they could soon be impacted by loss in efficiency and loyalty among the staff left behind. It may be prudent to make the changes needed to “beef up your bench” in a way that is not stressful and helps ensure the firm remains productive during the process.
Obviously, losing senior executives could have a major effect on a firm and the way it operates, but what about less-senior employees? There are other individuals throughout an organization who play a vital role in maintaining resourcefulness and driving innovation. Though there may be no need to prepare for mass exodus, it is important to start training others in case a key player does leave for another job.
In developing a deeper bench it’s important to know who would be the best person to fill a position should a manager leave. Fortunately, hiring managers may not have to look too far to find a suitable replacement for an exiting leader. Are there current employees who show signs of leadership potential? Identifying who will be able to fill executive roles is not necessarily a matter of seniority. Focus on whom best fits the requirements of the position.
Understanding the leaders an organization already has is the first step in being resilient to turnover. However, having a B-Team in place if change occurs is the step needed to truly foster sustainable success that’s built to last. Firms that are prepared for the future are the ones that stand the best chance of seeing it.