High-performing employees simulate body muscles that bear the heaviest burden in the times of need. They are basically keeping a company relevant and profitable almost throughout the year. As per a McKinsey study, your star employees are 400% more productive than their counterparts. But what about the situation when one of them puts in the resignation unexpectedly, and you, as an HR personnel, are given the responsibility to interrogate the sudden development, and retain?
A joint study by a business solutions firm & Oxford Economics has found out that one in every five star-performers leave in the first six months of joining, and less than 50% do so because of job dissatisfaction.
Smart HR Leaders Deal with the Situation Differently
The potential difference between an average HR leader and an effective HR leadership is defined by their approach to a situation like this, and the manner they communicate with the exiting employee.
It’s a tricky situation wherein the exit of one the high performers can trigger a mob mentality, and all of a sudden, you might see other star employees deciding to leave. In this scenario, what you can possibly do, is to provide the best possible offboarding experience. It will help the company in a greater number of ways than what you could think of.
Let us discuss how.
Damage Control with a Well-Thought-of Offboarding Strategy
Communicating the departure of a high-performing employee to his team & the organization at large, is key to limit further attrition of top performers. What an astute HR leader, in the situation, would do is to exploit the circumstances to their advantage by engaging & interacting with the team affected.
This might be a new opportunity for other team members to rise to the occasion and show their worth. And that is where you as a smart HR leader need to explore and identify the potential replacement.
Tailored Exit Surveys to Limit Top-Performers Leaving
Exit interviews can tell a lot about the possible reasons for the star employee’s exit. You can create a customized questionnaire and send to the exiting employee to collect valuable data. Later, analyze this data to identify trends, if any. The result of the exercise help HR leaders limit the future loss of top performers.
Nothing Beats Offering Career-Advancement Opportunities to High-Performers
As per the Workplace Learning Report by LinkedIn, a staggering 94% of employees keep glued to their respective firms when their organizations offer career-growth opportunities.
Also, the Gallup Report reassures the above said statement by confirming that ‘career advancement opportunities’ is the top reason for people hopping jobs.
Engagement, Undoubtedly Plays a Crucial Role
If you keep the high-performing employees engaged, you get to keep them. It is as simple as that. Communication and constant dialogue to understand their needs and aspirations is what effective HR leaders maintain.
But sometimes, you have to allow them to separate ways, as their needs may change similar to how organizational needs changes with time. In many cases, employees feel stagnated and you must not be an obstacle in their pathway to realizing their best potential.