This is your employee; he is so efficient and hard working. It closes deals with ease that you think it does some sort of magic. Your customers would prefer him to deal with his problems, he is always punctual and never complains. This guy is the backbone of your business, and you don’t know if there’s a lot you can accomplish without him. But, unfortunately, he has just handed in his letter of resignation.
Good employees are hard to find and also hard to retain. Why ? Competitors will also be looking for ways to win over your exceptional employees and keep them away from you. Some won’t even hesitate to offer them excessive pay raises that you can’t match, but there are some things you can do to convince that valued employee to stay with you instead of jumping ship.
First, you need to understand some of the reasons why employees are considering employment elsewhere. Sometimes this may be due to dissatisfaction, and sometimes due to circumstances beyond their control. Here are some of the main reasons employees leave: –
- Salary -: an employee can decide to lay off if he feels he is underpaid for the services rendered. Therefore, you should do a lot of research when hiring workers and checking their wages to determine what jobs other companies have and what your employees are really entitled to.
- Interpersonal relations-: We all have different temperaments and the way we respond to conflict in an organization is also different. An employee may decide to leave if it is difficult for him to maintain good relations with his colleagues or if he meets someone else in the company.
So what do you do when an employee retires and you really don’t want them to leave?
1. Never take anything personally -: It’s okay to feel resentful, embarrassed, or perhaps betrayed when an employee quits, but you should wait a few days for your emotions to subside before determining what action to take.
2. Invite him to the discussion -. You should invite your coworker for a chat so that you can understand what the situation is and how to resolve the problem.
3. Find out what the problem is – … In this meeting, your main objective is to understand why he is leaving. Take the time to ask questions and listen carefully to their answers. His reasons for leaving may be something you can easily fix and get him back to work. You can also ask him a few questions about the new job offer he accepted to give you an idea of what he considers the perfect job.
4. Determine when to stop – … Sometimes firing an employee will be the best solution for the employee and for the company. When an employee is unhappy with their job and it looks like you can’t fix the problem, then you should consider letting them go. You really don’t want to have a frustrated, cranky employee on hand; such an employee is useless to you or the company, so sometimes it is better to let such a person go.
5. Find out the replacement cost: If an employee asks for certain conditions before they can stay, you should first consider the cost of their absence from the company and the cost of replacing them because of the cost of their needs. You need to put your feelings aside at this point; You don’t leave an employee just because you are going to miss them or don’t know what your business would be like without them.
the questions you should ask; can I replace it easily? How much will it cost me to replace it? Can I meet his requirements? What if I met his requirements now, and he got a better deal elsewhere in a few months ? Here are the basic questions you should ask yourself before making a counter offer.
6. Make a counter-offer -: Avoid promises of things you can’t or don’t want to do at this point If an employee retires due to higher wages, they may not agree to stay unless you offer something better or close … However, you can use some strategies that are not financial in nature to convince him. You can remind him of the job security and confidence he has in your company, you can decide to raise him, offer him better working conditions, or even send him for training. Giving them new responsibilities or changing teams can also work.
7. Put it in writing and take effect immediately -: do not waste time at this stage. You need to make sure that everything you have promised is already in full before its review expires.
9. Get a written response from employees -: Be sure to get a written employee liability waiver if he chooses to stay, and be sure to do so before you start making any changes. This written statement will serve as proof that the employee has accepted your offer and is ready to continue working for your company. It is important to avoid making assumptions at this point.
10. Keep your employees happy -: they always say that prevention is better than cure. It’s best to take the necessary steps to keep your employees happy and satisfied by motivating them, compensating them adequately and providing them with a supportive work environment. You will find this easier and more profitable than leaving them dissatisfied and then trying to convince them to stay when they decide they have had enough.