Situation: A key employee will be leaving for at least 5-6 months on maternity leave. This individual is a top performer, and will be welcomed back following maternity leave should she wish to return. However, her absence will leave the company short of resources. Is it better to develop internal resources during her absence or hire a new resource?
Advice from the CEOs:
- The company’s HR strategy should complement its strategic plan as well as the CEO’s feel for market conditions.
- If the strategy for the next year is to grow, then plan accordingly and commit to either bringing on someone new or to aggressively growing the talent already within the firm.
- If the strategy is to hedge bets due to lack of clarity as to where the market is headed, then plan accordingly and act more conservatively.
- Assess the availability of resources within the company.
- Are there internal candidates who can fill the gap created by this employee’s leave? If so, then start training and developing these resources. They will be valuable as the company grows.
- What is the company’s current workload vs. the capacity of current staff? If there is any excess capacity that can fill the gap, short-term, then use this as an opportunity to develop this excess capacity.
- If the company has excess capacity, and is unsure about market movement six months out, develop internal capacity first.
- This provides both additional flexibility and time to assess signs of market movement before making an investment in additional talent.
- Plan to revisit the situation in 3 months and make another decision.
- Keep a close eye on the market for developments, and have rapid action back-up strategies in place to respond to market conditions.
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