This employee of yours; he’s so efficient and hardworking. He closes deals with ease that you would think he was performing some kind of magic.
Your clients would rather have him handle their challenges and he’s always punctual and never complains. This guy is like a pillar and the backbone of your business and you don’t know if you can achieve much without him. But sadly, he just tendered his resignation letter.
Good employees are hard to find and also hard to keep. Why? Competitors would also be looking for ways to win your outstanding employees over to their side and poach them from you. Some wouldn’t even mind offering them over-the-top salary increments that you cannot match but there are things you could do to persuade that valuable employee to stay with you and not jump ship.
First, you have to understand some of the reasons why employees consider taking up employment somewhere else. Sometimes it can be due to dissatisfaction while at other times it’s as a result of circumstances beyond their control. Some of the major reasons why employees leave include-:
3 Reasons Why an Employee May Decide to Leave your Company
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Salaries
An employee may decide to leave if he feels like he is being underpaid for the services he renders. Therefore, you should do a lot of research when you are employing workers and reviewing their salaries to determine what other companies are offering and what your employees are really entitled to.
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Conditions of service
Another factor that is responsible for employees leaving is when they are unsatisfied with the conditions of service. When an employee is unhappy, his level of productivity is reduced and his level of job satisfaction also suffers and that pushes him to look for other opportunities elsewhere.
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Interpersonal relationships
We all have different temperaments and the way we react to conflicts in the organization differs too. An employee may decide to leave if he is having a hard time relating well with his co-workers or if he has a clash with someone else in the company.
So what do you do when an employee is resigning and you really don’t want him to go?
Guaranteed Ways to Persuade Good Employees to Stay
1. Never take anything personally
It’s completely normal to feel hurt, confused or maybe betrayed when an employee tenders his resignation but you should wait a few days for your emotions to simmer down before figuring out what action steps to take.
2. Invite him for a discussion
You should invite your employee for a discussion so that you can understand what the situation is and how to go about fixing the problem.
3. Get to know what the issue is
At the meeting, your major goal would be to understand why he is leaving. Take time to ask him questions and listen carefully to his responses. His reasons for leaving may be something you can easily fix and get him back to work. You may also want to ask him a few questions about the new job offer he has accepted to give you an idea of what he considers to be the ideal job.
4. Determine when it is time to let go
Sometimes, letting an employee go would be the best decision for both the employee and the company. When an employee is unsatisfied with his job and it seems like you cannot fix the problem, then you should consider letting him walk.
You really don’t want to have an unsatisfied, grumpy employee on your hands; such an employee is not useful to you or the company so sometimes, it would just be better to let such a person go.
5. Find out the cost of replacement
If the employee is asking for some conditions to be met before he can stay, then you should first consider the cost of his absence to the business and the costs of replacing him in relation to the costs of his demands.
You need to put aside sentiments at this point; you don’t keep an employee simply because you are going to miss him or because you are unsure of what your company would be like without him. Questions you should be asking should be; can I replace him easily?
What would it cost me to replace him? Can I meet up with his demands? What if I meet up with his demands now and then he gets a better offer somewhere else after a few months? These are the major questions you should ask before making a counter-offer.
6. Make a counter-offer
Avoid promising what you cannot or would not do at this stage. If the employee is resigning because he got better pay, he may not accept to stay back unless you offer something better or something close. However, you can use some strategies that are not financial in nature to persuade him.
You can remind him of the job security and certainty he enjoys at your company, you can decide to promote him, offer better working conditions or even sending him on training. Giving him new responsibilities or changing his team could also work.
7. Put it in writing and effect immediately
Don’t waste time at all at this stage. You should ensure that all what you have promised is already in full-force before his period of notice expires.
9. Get the employees response in writing
Ensure that you get the employees retraction statement in writing if he decides to stay and make sure you do this before you start effecting any changes. This written statement would serve as evidence that the employee has agreed to your offer and is willing to remain employed in your company. It is important to avoid assumptions at this point.
10. Keep your employees happy
They always say prevention is better than cure. It is better to take necessary steps to keep your employees happy and satisfied by motivating them, compensating them adequately and offering them favorable working conditions. You would find this easier and more beneficial than leaving them unsatisfied and then trying to persuade them to stay when they decide that they have had enough.