Your Exit Strategy..
Vikas was the Line Manager of Prabhanjan, one of the senior technical sales manager in one of the well-known MNC. Prabhanjan was around 52 years old, working almost for 10 years in the company. He was not doing well for last few years. He was qualified engineer, expert in his segment, but was not doing well for last few years. Vikas has concluded that Prabhanjan was reached at the level of complacency. In spite of giving several feedback, Prabhanjan was not trying to fulfil the expectations of his line manager. Vikas communicated to the management that he didn’t want the person in his team. Off course he had taken all actions, to bring the Prabhanjan at expected level. The issue was the attitude of employee.
For keeping the performance of the team and to set the example, it was important to separate the employee from the company. However when it came to the HR, then lot of questions were raised about the termination considering his past performance which was very good, his seniority in the organization.
I see here two issues, from company side and another from employee side. I am not commenting on his performance issue. We can debate a lot on the performance. But my question is about exit strategy.
From company side: does your company has the exit strategy and policy in place?
Getting talent and retaining talent is the vital and he was speaking about the exit before even joining the employees. What we would tell employee when he joins the company is the question?
There are different types of employees. Most of the times we carry with the perception and only talk about retention, which we should, but there are few employees who over a period of time creates the problem to the organization either by nuisance (of giving the example of their past performance & seniority) or by becoming complacent . If it is not working well, company should have the proper exit strategy in place. This strategy is not what you do but how you plan the exit of employee considering different circumstances and scenario.
From Employee Side: Situation may not always good. Sometimes companies do the rightsizing, sometimes jobs become redundant. Sometimes bosses change and sometimes relations are not that good. After working few years in the company, you also want to do something different and company may not support you to that different things. Sometimes companies may not have the enough opportunities. Leaving job is also not possible after some times. Situation comes, that you have title, you earn money, but you are in the golden cage. Opportunities are given other employees or outside people are brought in the organization. You feel that you don’t have the career in the organization. What will you do?
In business, investors makes their exit strategy. You are also an investor of your career and the business (company) for whom you are working. You need to plan your exit as well. Do you have your exit strategy? Here the strategy means how and when you plan your departure from the organization, once you have contributed fully and you (or company) feel that there is not extra with you to add.
It is a planned approach to terminating a situation in a way that will maximize benefit and/or minimize damage.
You have to decide which situation is good or which situation is bad.