For the past month I've been writing about how to create a turnkey business, emphasizing the benefits of being able to grow your business and expand your team. But I haven't really highlighted how a turnkey business prepares your team for one of the biggest risks that your organization faces - employee turnover.
Many folks misunderstand the risk their teams and organizations face when it comes to employee turnover. I've spoken to some business owners who have the idea that they can "get by without so and so" and that "everybody is replaceable." While it's true that your employees are replaceable, your team will still incur a cost as a result of somebody's departure.
Even when organizations understand the negative consequences of employee turnover, they tend to focus more of their attention on preventing employees from leaving instead of preparing for their departure.
Topics: Succession PlanningRead More