When Essential Team Members Leave

Alisa McCabe: [00:00:00] Welcome to another episode of Financial Snickens. I'm your host, Alisa McKay. And today we're going to be talking about what happens when a key person leaves. So, um, as an entrepreneur, this happens. It's inevitable. It's the hurdle that every entrepreneur faces at some point, and whether it's due to retirement or a career transition, or even a personal decision, the exit of a pivotal team member can create a void. That demands immediate attention and causes craziness in your company. So recently I was speaking with a colleague and she has, was telling about a tale of transformation for her company. And it really showed the role that her team played during this incredible moment of transition. So she was telling about how this key [00:01:00] person had left and it actually sent her The, the owner into a situation where she did a lot of deep self review and had to make some changes herself. She said the sudden absence of this person had sent shockwaves to her company and what could have been a crisis actually turned into an opportunity for the company. And for the team. So what happened was because she had dedicated so much time to fostering an environment of creativity and collaboration and, and having a culture built around being a team. When that person left, everybody came together. And [00:02:00] this organization, because they'd been so nurtured, stepped up and filled that void. They became a, it was like a rallying point for the team. They got together and they faced the adversity together. And it was the team's collective strength that emerged as this amazing asset that it was almost as though the owner forgot what an asset her team was. So, It bridged the immediate gap because that happens when someone leaves, there's things that need to be done, but it empowered everyone to envision a restructure. So this, the team's diverse skill sets were combined and then new leaders emerged and they ended up having this organic evolution that enabled the company. To not only [00:03:00] weather the storm, but they also emerged more resilient and adaptable than ever before. People started cross training on different tasks there. They developed a different company organization and everyone on the team had input and everyone wanted a situation where if anyone on the team left that. It wouldn't overwhelm them. It was an incredible situation that allowed the team to become invested and for the entrepreneur to really take a step back and utilize this amazing team. So it, this experience really emphasizes how important it is to foster a strong team in an era where disruptions are just par for the course. People are leaving at [00:04:00] great numbers. You know, there was recently someone, a company who said, Hey, everybody has to come into the office. And like 42 percent of the people quit. So stuff's going to happen. But. You have to be able to rely on a united team to make all the difference. So if you have a united team and you make that team decision together, you're not going to have 42 percent of the company leave because it's a team decision. So this shared commitment not only keeps the ship afloat during tumultuous times, because those are going to happen, but it also guides the transformation towards success. And the departure of a key person can be liking To a pebble being dropped in a pond, the ripples of change touch every corner of the organization. You can't help that. It's going to happen, but with the right team and everyone in the right [00:05:00] seats and a forward-looking approach, your organization can not only overcome these challenges, but also use them as steppingstones towards a successful future. If you want to talk more about tumultuous times and how to be transformed during them and what we've seen small business owners do in times where they've been challenged because that's when greatness comes about. We would love to talk to you. Head over to our website, firststepsfinancial. com. Click on let's chat and book a meeting with me and we'll talk about how to transform your company.