As the economy improves, is your business ready? Maybe you are increasing production, building inventory, drooling cautiously over an improving ledger, but little do you know that a potential problem could be sneaking in unnoticed!
At Innovative Outsourcing, our goal is to keep you on top of the latest trends in human resources, so we want you to be aware of a recent MetLife study revealing that employers are going to be caught flat-footed as one in three employees are ready to leave for greener pastures. Through the down economy, employees have felt oppressed by stripped benefits, increased work hours, and added responsibilities. As the job market improves, these employees are looking for a change, and of course the most employable ones who may be your most valuable employees, will be the first to find a new job elsewhere.
Cindi Filer, President and CEO of Innovative Outsourcing, has seen this trend beginning already. “I often speak to CEO groups about human resources trends, and over the past two weeks, I have had three of those CEOs call me in horror as their “key” employee turned in a resignation notice.” Cindi goes on to explain that through her presentation to CEOs, she talks about making sure that all key people are cross-trained so that in the event of an unforeseen resignation, staff is in place to step in until a replacement is found.
“We recommend that all employers are proactive, even if they think that this would never happen to their business,” Cindi warns. She suggests these two important tips:
- Protect key employees by using positive human resources tactics. These key employees need to know that they will prosper as the economy improves.
- Make sure that your key positions have trained back-up personnel in place. If you don’t have employees that can do this, consider alternate staffing measures.
Cindi explains how using part-time staff can aid in this process. “One of my clients just chose to hire a part-time bookkeeper to have in addition to the full-time bookkeeper. This part-time bookkeeper will be a backup who knows all the accounting systems, and will help with workflow during times of higher volumes.
Consider the benefits:
- The key employee has help for the increased workload that new business demands. Having a part-time helper can give that key employee an opportunity to manage and delegate, so that they will feel even better about staying in their current job.
- This will assure that two sets of eyes oversee the accounting process.
- Cross training provides the backup necessary in case the key employee leaves.
This approach is a perfect fit for accounting, but is a great model for all business functions. And Cindi reminds that part-time staffing is the perfect solution to balancing workload, providing cross training without the investment and long-term commitment associated with hiring full-time employees.
Most employees are not disclosing their job search to their employers. Picture the employee you rely upon most. Now picture their resignation letter and two weeks notice! Don’t get caught in this Staff-Shift! Be proactive and follow these two tips now.
If you are interested in learning more about how Innovative Outsourcing can be a partner with you in this strategy, or if you belong to a CEO group and would like Cindi to speak about this and other important human resourses issues, please contact her at