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Top of Mind: March 27, 2014
March 27th, 2014
by Bill Boyajian

What to do When Employees Leave a Firm

A friend recently sent me an article that inspired me to write about a subject seldom discussed in business circles: how employees are treated when they choose to leave a firm. There is a tendency, especially in the jewelry business, to let an individual go immediately, for fear of theft, carelessness, insubordination, or any number of issues that can certainly emerge once a letter of resignation has been received. But here are a few suggestions to consider when employees leave:

• If you are an employer, don’t get angry or resent the fact that someone is leaving.  And don’t talk about the person to others in a disparaging way.  Employees that stay with you may believe that you will say the same thing about them upon possible future departure.

• Unless they are going to a direct competitor with a chip on their shoulder, just because someone is leaving doesn’t mean they lack loyalty or support of the firm.  Often people leave for financial incentives and growth opportunities, concepts that all employers should support inside the company.

• Maintain the bonds between you and former employees.  Relationships matter, and in a digital world, the buzz from ‘word of mouth’ and social media can take you to elevations beyond your current experience.  This is especially true in small industries or communities where everyone seems to know everyone.

• Former employees can become your unpaid ambassadors.  If they left under good conditions, and learned a lot from you, they will pay you unending compliments and steer customers to you.  Of course, the opposite is also true.  Best to understand the impact and power of the goodwill you can either create or destroy by your actions before someone leaves.

• Former employees may well become future collaborators, vendors, or even customers.  If they start their own business, they could become your best trading partner.

• Let’s face it, people change jobs today.  The average Gen Y person may have 20 different jobs in six different industries before they’re through working.  It’s reality today.  Get with it.

Now, more than ever, employees who leave your firm should be treated with dignity and respect. With rare exception, when you show care for them, especially at the time of departure, they won’t forget your kindness, and good things will come back to you over and over again.

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What to do When You Leave a Firm

If you are the person leaving, consider the following actions:

Write an excellent and thoughtful letter of resignation, sharing your sincere thanks for the opportunity to work for the firm.

Spend some private time with your employer or manager, even hand-delivering your letter with a personal thanks and appreciation for what you have learned there.

Work extra hard and conscientiously in your last week(s) with the firm, documenting as much as possible about your work. This will impress your employer, assist in the transition, and help you leave under even better conditions.

 

Here are a few Business & Life Tips to think about…..

Business Tips:

  • Like a diamond against a diamond, the only thing that can sharpen a leader is someone with a similar “hardness,” or similar skills.
  • Produce an agenda for any meeting you call. Be organized and on point. Don’t let things stray unless that is part of your plan.
  • Decide early on whether you want to lead people, or lead things. The choice is about your people or process vision. It’s hard to do both.

Life Tips:

  • Worry is a waste of the human mind. Worry less. Be decisive. Do more. Action and activity will take worry away.
  • We tend to act, react, and make decisions based on emotions. We later try to validate those actions and decisions with logic.
  • Happiness is based on our circumstances. Joy is an inner peace, a quiet confidence, that everything will be alright.


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“I needed help orchestrating a succession plan for our business. I had heard that Bill Boyajian specialized in assisting owners to transition their business to the next generation. He knows how to bridge the generation gap and deliver what each needs to hear. I would recommend Bill to any business owner who needs advice on succession planning from a trusted outside professional.”

–Charles Denaburg,
Managing Partner,
Levy’s Fine Jewelry
Birmingham, AL

"Our family needed some guidance on business transition and succession planning. We asked Bill Boyajian to help us because we knew we could trust him to tell us what we needed to hear. Bill became a valuable resource for our company and our entire family. He has the ability to meet each of us where we’re at and it has served us very well."

–Ceylon Leitzel
Leitzel Fine Jewelry
Hershey & Myerstown, PA

“We needed a plan to transition our business to a non-family member and we asked Bill Boyajian to help us. His experience in the area has really paid off, but we didn’t expect the added value of putting us together with a financial planner who helped organize our retirement needs. We now have the fundamentals to transition our business successfully, and we have Bill to thank for it.”

–Ernie & Debbie Cummings
Kizer-Cummings Jewelers
Lawrence, KS