Business is a dog eat dog world where no competitor can be trusted. That’s why you keep product innovation under surveillance, closely monitor your leads and customers and keep year end reports out of the public eye.
You’ve done everything in your right to protect your intellectual property and financial information and by law, it will remain that way. But just when you think you’ve got control over your business, your top performer quits then works at your competitor’s business for more money.
As a business owner you can never expect 100% transparency from your employees, nor do you have control of external factors that affect the turnover rate of your business.
So what should you do when an employee is persuaded to go to another company?
Assess the Employee’s Worth
If an employee presents you with an alternative job offer, the first thing you need to ask is if they’d like to stay in the organization. If they say yes and are an asset, ask the employee to state what they would need to stay in the organization. Then, do what you have in your power to keep them onboard.
If the employee fails present the competitor's offer, they’re often all talk and have no real plans to leave your company.
Directly Contact the Recruitment Agent
If you recognize an organization consistently attempting to recruit talent from your staff, it’s to your benefit to directly contact the CEO or Recruiting Agent to ask for professional courtesy. You’d be surprised how easy it is to reason over a simple phone call.
Feel free to use my template.
I have gotten word that your recruitment team at XXX have made some calls into our organization. Reaching in and pulling multiple people out of a small company is very destructive to our business. As a professional courtesy, I ask you to find other companies to target for your growth efforts. Give me a call as soon as you can.
Create a More Desirable Workplace
My experience has taught me that people rarely leave a job because they’re not paid enough. This means if the employee accepted an alternative job offer, they’re often leaving because of the manager or the company’s culture.
To create a business people are passionate about, create a culture that encourages professional growth. Respect your employee’s work-life balance and offer flexible work options that allow them to work from home. Genuinely welcome feedback then act on it. This will show your employees that they have a purpose within your organization.
Moral of the story is that companies with low turnover rates often have their culture to thank. If you have a strong culture, you shouldn’t have to fight to keep your top performers on board.