Planning Effective Retirement Transitions
Congratulations! Amidst all of the celebration of a retirement, there's something lurking at the back of your mind. Have you effectively managed your employees' transitions during this time of change? As Baby Boomers retire and Millennials take their place in the workforce, it's time to think about how you can become a better transition planner to ensure that your agency runs smoothly even when an employee leaves.
Understand the Needs of the Agency
When an employee is entering retirement, this is an opportunity to take a hard look at the position and determine whether you need to make any changes. Ask the outgoing employee to look mindfully and critically at the job, determining what might change in the future. Get data about the role of that position in the company, and ask a governance team to take a look at any adjustments that might be needed to ensure that a particular position makes an optimal contribution.
Understand the Job
Once you've worked to reshape the job, take a critical look at the types of skills and traits you need in your next employee. Solicit feedback from the retiring employee and others who work with that person. Does the individual need to manage dynamic teams? Pay attention to detail? What skills are required for the current position, and what skills might be desirable? If you have an employee who has a lower level of technical skill, would it be beneficial to hire someone with a higher level of skill? For example, a new administrator might be able to manage changes to the company's website if that individual has a knowledge of WordPress.
The Importance of Transition Time
Anyone who's ever had a child knows about the importance of transition time. Events tend to move more smoothly if a child has a warning that it will soon be time to leave the playground. The same thing happens with a job.
Often, employees give more notice of a retirement than they might if they are accepting a new position at a different company. Use this time to your advantage. Collect information about the position, reshape it, and hire early to ensure that the new employee has the opportunity to learn from the former one. A job is more than a set of instructions. Giving transition time helps a new employee learn the intangibles of the position as well as the official duties.
Sometimes, your new employee is not so new. You could decide to move an individual into a role with a higher level of responsibility. You'll need to have a plan in place to mentor and support your new employee. Creating formal mentorship programs within your agency allows you to support all employees within their positions, including those who shift into a position made vacant due to a retirement.
Are you looking for support to help you with employee transitions or fill new insurance jobs? Whether you need to access additional training or network to help fill job opportunities, the American gents Alliance is here to help. Contact us today and learn more about our membership benefits.