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Major Reason Why you should keep an Employee

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    Major Reason Why you should keep an Employee

    Reason why managers fail: inability or inaptitude in retaining top talent.
    Many bosses have this attitude that anyone is replaceable easily like gloves, that they can hire someone even better. They are fooling themselves, and do disservice to their company.

    When you lose an employee
    1. You have to pay a recruiter fee to replace
    2. You have to wait for the new person to arrive
    3. You have to pay them what you were supposed to pay the one who left, fairly, the market price
    4. You have to train the new person
    5. The employee who left knew things nobody else does.

    A good employee has knowledge of systems , products and processes. They have trust relationships with clients and co-workers that takes years to build. When you lose a good employee, you lose part of your culture. You lose part of your company. And you may lose your own future.

    #2
    I once had been assigned to the task of hiring applicants for vacancies in our department. An addition to that was to do the exit interview why an employee is resigning. I have to agree that an employee is an investment but I cannot say that you can withhold the decision of a resigning employee. For me, it is not right to give a counter offer when the resigning employee is moving to another company with a higher pay or a higher position. Once the employee had decided then the die is cast and so be it.

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