Manager's Portfolio: Please Don't Go
CURRENTS Article To reduce the loss of valuable workers, institutional managers should look to the corporate world for techniques to increase retention. This article presents nine steps to take when an important employee resigns, developed by T.J. Rodgers, CEO of Cypress Semiconductor Corp.: 1) React to a resignation immediately. 2) Keep the resignation secret. 3) Tell your supervisor and other involved senior managers right away. 4) Listen carefully to the employee's reasons for resigning. 5) Construct your arguments. 6) Present your alternative plan to the employee, and demonstrate your eagerness to work with him or her. 7) Solve the employee's root problems with the job, if possible. 8) If the employee decides to stay, have him or her tell the competitor immediately. 9) Prevent the next problem.