As the economy roars back to full strength, opportunities for professionals throughout the Twin Cities area are opening up – and some are taking advantage of the chance to move to new companies or new jobs. When one of your best employees announces they’ll be leaving the team, what should you do? Here are several steps to take:
- Learn all you can from the exit interview. Start your exit interview by asking, “What made you start looking for a new job in the first place?” This question helps focus the employee’s thoughts on information that can help your company change, improve, and attract similarly talented individuals in the future. Asking for specific feedback on what the employee would change if they could may also help.
- Consider a counter-offer. During the exit interview, some employees may mention things you can fix immediately, such as a need for a better work-life balance or more competitive compensation. If this is the case, and you have the opportunity, consider making a counteroffer. However, think carefully about the costs and benefits of doing so, as well as the best time to make the proposal. If the counteroffer simply won’t work out for this employee, hang onto the terms and use them to update your compensation offerings for the next candidate.
- Look at who you still have. From cross-training to promotions to employee referrals, your remaining team is a potential goldmine. First, see which team members have the skills you need: You might have someone who can move easily into the open position and will be thrilled to do so. Also, ask your remaining A-players for recommendations and referrals in order to find talent who will “mesh” well with your current culture.
- Talk to your recruiter. Staffing firms specialize in knowing the “inside scoop” about the industries and localities they serve. If you’re losing all of your best people, your recruiter might be able to help you figure out why – and prevent the brain drain.
At THE RIGHT STAFF, LLC, our St. Paul recruiters help employers throughout the Twin Cities find the people they need – even when a great team member chooses to move on. To learn more about our staffing services in Minneapolis and beyond, contact us today.