Planning power part 4: Team
Author: Russell SmithAugust 15, 2012
Unless you’ve got a really large team (and even if you have, you will have some key people), most business owners are exposed to losing people.
Its easy to assume that people will stay with you forever (often not because they LOVE working with you but because you HATE the idea of having to recruit again – the time, the cost, the chance of making a huge mistake) but it can be a terrible assumption since if you have no contingency plan for people leaving, when they do (and they will) you can be left very exposed.
This lack of planning around TEAM has two simple (but not easy) solutions:
Firstly, have a reserve team. It could be freelancers, subcontractors, an outsourcing option, or people in the team who can switch roles. Write out the contingency plan and measure how long a reserve team can be fully operational if someone leaves.
Secondly, make recruitment an ongoing activity. If you want to grow your business, recruitment will always be something you will have to do so simply don’t stop. You may not always have current vacancies but keep your activity constant. The alternative is, someone leaves on one month’s notice and it you then have to start the recruitment process from a standing still position. If you don’t then find the right person immediately, you are heading for months with a gap in your team (or even worse, you make a quick hire decision that you later regret).