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PKF Texas – Entrepreneur’s Playbook®:YP Opportunities Through Turnover

by | Feb 4, 2011 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website.

Keeping young professionals engaged is a constant topic of conversation amongst the business owners I run into in the marketplace.  With the new economy, young professionals have experienced realities that many of us who have been around the block a few times have seen many times over, including increased turnover. 

When an employee leaves a company, the gut reaction of the young pros may be to see it in a negative light or wonder who the next person to leave will be. The truth, however, is that departures are commonplace, especially amongst the Millennial generation. The key is attitude adjustment. Encourage them to assess the departing co-workers responsibilities and analyze if anything can be done to advance his or her career through stepping up and taking over for a colleague.

Since most young pros are entrenched in entry level or near-entry level positions, the co-workers who leave are often above them on the promotional ladder. Therefore, if young pros are motivated, take initiative, and assume the role and responsibilities of their former superiors, they are showing you, the management, that they are growing into a more advanced position within the company and will be a superior candidate when the next promotion cycle arises.

Simply put, turnover creates job opportunities. When someone leaves a department, it creates a void, and who best to fill that void than a person familiar with the workings of the departed employee? The key, however, is for the surviving employee to let management know of his or her interest in taking on the new responsibilities.

The young pros are the future of our companies. Taking the time to encourage them will help grow them up in your firm and ultimately they become a key part of your succession plan.

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