MBA poaching Nr 2

MBAs and Poaching 2!

 

Here is another subject: Poaching…. I have so many things to say about poaching. What do you do when a competitor snatches away your employees? What to do and What NOT to do? I was in a situation like that just before my MBA and although my position was challenged my previous boss confessed to me that he should have followed my advice.

 

When I left my previous job to do my MBA @ INSEAD I had notified my boss 4 months in advance(since he helped me pay for it). I found my replacement and trained him. At the same time another colleague had to leave for her pregnancy leave and her replacement got an offer to join another company. That lady was holding a crucial post whose replacement was never carefully considered and didn’t know what to do in case one person was away. That position was responsible for all the email communications between the company and its partners/suppliers. I had long argued unsuccessfully that this role should be shared by 2 people at least and use another method for going through emails.

 

My boss was under a lot of pressure during that time and he did the worst thing possible. She offered that lady a big increase in salary. A salary which she clearly didn’t deserve. Case in point offer salary increases only to people who cannot actually be replaced. A good way to do that is to cross train your employees so they can fill empty spots for a short time. What happened in the end? The girl eventually left and everybody had found out about her pay increase. Of course they demanded a higher increase in salary the next time their contract was up for renewal. My boss didn’t reveal to me all the details but probably she got her lesson. I hope it wasn’t very expensive.

 

Most organizations still have not grasped fully their ability to tilt pay negotiations in their favour by generating home-grown replacements. Threats to jump ship should be taken lightly. The organizations should put more effort in nurturing talent Lets look at AJAX the football club in the Netherlands. Ajax was by far the best “grocery” for football stars for the last 30 years. Every Dutch football start was an AJAX product. In World Cup 1998 most of the Dutch team were playing in foreign clubs but they all started from the same incubator: Ajax! Transfer fees from players is a good source for revenue

 

The lesson is that when someone tries to poach your best employees with a mouthwatering pay deal,  bosses should let them go. With the right approach to hirin and growing talent the organization will always have an abundance of gems. It is a lengthy process but one that organizations should start. Hey it is better to have competitors snapping away your people. It means something is getting done correctly, the problem is when they lose interest in the organization’s staff….

 

 

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