A key member of your team has just resigned stating ‘a better opportunity’ as their reasoning. You’re gutted, disappointed, frustrated, maybe even understanding. But regardless of your feelings, it would have been better if they weren’t leaving. They brought a huge amount of value to the team and now another business is going to benefit from that value. Let’s hope it’s not a competitor and let’s try not to think about the time and money it will cost to replace that person.
Why do they see this as a better opportunity? Why is your business unable to provide that same opportunity?
Don’t wait until this stage to understand why someone would want to leave your business for a ‘better opportunity’.
Now, of course, there will be times when there genuinely is a better opportunity on the table and it is the right thing for someone to take that opportunity. But we need to minimise those instances. There are also many times when another position will be perceived as a better opportunity and we need to minimise those instances too.
How? We need to know what else is out there and we need to aspire to be better. We need to understand what is important to the people in our business and we need to address this as much as we possibly can as often as possible. This is clearly not easy, but the better we can do, the less likely it is that the aforementioned scenario will occur. The ‘better opportunity’ can mean different things to different people. It could be career development, earning potential, flexible working. It’s personal. If your competitors have developed a product more saleable than yours then how do you compete? Can you develop a better product, can you ensure that your career development paths are superior, can you do both? Can you provide long term incentive plans to protect your business and reward your people at the same time?