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People Profits Principle #41

 

Another heavily experienced person walked out the door. What is the real cost? Do you have any hope of replacing them with someone of equal experience? How did the other employees react to them leaving? Is this a dam bursting? Are others going to follow just because they left? (People Profits has seen that happen more then once.)

The direct cost of no longer having that person and having to find someone else with that level of experience. Where did the person go - to the competition? That cost could be astronomical!! What were the issues and how could they have been solved? Our experience has been the cost of losing them dwarfs the "cost" of keeping them. So many times the "cost" of keeping them was no cost at all.  

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