7 crucial steps to implement when a key employees leaves your business

Welcome to a free edition of Start Up To Grown Up: Your source for ideas, insights and tactics to take back control of your business and scale it sustainably and profitably by Heather Townsend, award-winning author of The Accountants’ Millionaires’ Club and Founder of The Accountants’ Growth ClubYou’ve poured your heart into your business. The last thing you want is for most of that business to walk out the door when a key fee earner leaves. When your business is young and your small (but perfectly formed) team seems highly engaged, and you all feel ‘in it together,’ it seems unlikely that this could happen. After all, your team wouldn’t do this to you.Or would they?In the 15+ years of helping small business owners grow and scale, on thing is certain: at some point, there will be a revolving door of employees. It’s a rite of passage I see time and time again.While everything may feel great right now, and your team is incredibly close, you must prepare for the reality that, at some point, a key team member will leave. This means planning in advance for how you will handle it. I’m not ashamed to say that this planning has saved me more than once. For example, I once had a team member with a dark side. Ninety-five percent of the time, they were happy and full of energy. To the outside world, even now, very few people know about this side of them. But I did. It was this dark side that worried me. I knew that at some point they would resign in a huff and that would be that. In fact, 2 weeks before they resigned they publicly stated that they loved their role and working with me. And yes, their departure was more akin to a massive meltdown with me and the business. The more you can put in place now, the easier it will be to handle if the worst does happen to your firm.This podcast explores the 7 key steps to implement in your business to protect you and your business when a key employee leaves. Get full access to Start Up To Grown Up at startuptogrownup.substack.com/subscribe