How to avoid losing staff when retiring

by | Sep 3, 2018 | Exit Planning, Growing your team, Uncategorized | 0 comments

When you announce that you are taking a step away from your business and toward retirement, you may find that there is a sudden sense of unease reverberating through your business. This is because the people that you hire are now uncertain about where the business is heading and are ultimately feelng less secure in their roles.

If this isn’t handled with tact, then you may soon find yourself dealing with a lot more than just your own resignation. Also, don’t get angry if it does happen – people move on from their jobs all of the time. Adapt and conquer!

Ways to retain staff when retiring

There are some preventative measures that you can put in place to help your team to adapt to change and still see a future in your business without you there as much.

Motivate your team

Implementing new motivational techniques to help you to keep staff raring to go is a great way to inspire people to want to work for your business. This could involve setting targets and providing incentives for hard work or staff nights out.

The happier your team is, the more involved they will be in their work and upkeeping your business standards for further reward.

Keep everyone informed

If a big change in a process is coming, or the direction of the business is changing then your staff need to know about it so that they too can do everything possible to adapt to your new situation and strive towards your common goals.

You may be surprised by who steps up to really stay ahead of the game and help you out when working toward Half-Retirementâ„¢.

Promote and celebrate success

When someone does something nice for you, you do something nice back where possible right?

The same rule applies for if your staff manage to meet the expectations and targets that you set. They could look for a job elsewhere and they are effectively working towards your happiness- so cut them some slack!

Publicly make it known how happy you are to have each and every one of them working for your business and reward those who deserve it!

Stay involved in key events

If your business has an annual outing or Christmas party, then show a little appreciation by making an appearance and giving a speech on the business. Be sure to thank your key players personally and acknowledge the hard work of all.

Your presence in events like this proves that you are still involved in the business, but you are just choosing to take more of a back seat as you have worked hard to create the opportunities that they are now taking advantage of.

Be grateful

Saying thank you to those who have continued to commit hours of hard work whilst you are spending less time on work and more time on having fun is a must.

You will not only feel less guilty about enjoying your hard-earned retirement, but your words will really mean something to those who are grafting on your behalf.

Little gifts, incentives and cards are optional, but you must always remember who helped you to get to where you are today. Thank you’s cost nothing.

There are so many other things to consider when paving the way towards Half-Retirementâ„¢. The more informed you are, the better your chances of making it the most positive experience possible for both you and your business.

Get in touch with our team to learn more about how you can begin Half-Retirementâ„¢.

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