All employees are essential, but do you have one who is relied upon more than others?
You know the person I’m talking about. They know all the answers or at least where to start looking. They’re indispensable and when they’re on vacation, things don’t run as smoothly.
Have you thought about what happens if they win the lottery? Or must move out of state to care for an aging or sick relative? How will you ever replace them?
To even begin to try to replace the irreplaceable, it’s important to document what these essential employees do. Not only as a safeguard against an unforeseen event, but also to potentially make their lives easier. Don’t you want to make them happier and continue coming to work?
The same can be said of an owner or executive who “keeps everything in their head”. The value of a company to an outside acquirer is not “in someone’s head”. It’s in the future value of the business, whether the personnel remain the same or not.
Documenting processes, at the very least those of essential employees, is imperative to safeguard your business and increase its value.
Would your company benefit from this documentation to unlock its full potential? Contact Beck Insights (www.beckinsights.com) and we'll work together to determine the right solution for your business.