Retirements Create Opportunities
Senior managers recognize that retirements represent opportunities.
While they are an opportunity to recognize a person’s loyalty, value, and commitment to a company, they also represent an opportunity for evaluation and change.
Frequently companies, especially in the last year or two of a person’s role in a company (when retirement is assumed or pending since it has been announced) there is a reluctance for change.
Enterprising, progressive companies, however, see this as an opportunity to create change while benefiting from the transference of institutional knowledge.
Let me recount …
Last year I had a client who had a 30+ year VP IT and Operations who announced that they would be retiring. He made the announcement in late 2022 with plans to retire in 2023. Quality person. Did a credible job in helping the company grow by multiples over the years.
But the opportunity …
The IT of yesteryear is, well, yesteryear. The ERP is similar (you can debate on-premise vs cloud but the functionality is similar). Nowadays there are many bolt-ons. And we have CRM, eCommerce, analytics, AI and a myriad of other systems that now involve digitalization and require some integration and support.
Warehouse operations is different today. Branch operations needs to be considered relative to a network, possibly served by a CDC or RDCs. How to improve productivity? Warehouse layouts need to be optimized. Vehicle routing managed. VMI with suppliers as well as for customers. And much more.
The point is that senior management recognized it was an opportunity to call “time out”. To reevaluate the role. To think about its longer-term goals, business strategy, the expectation for the role(s), and the type of person to put in place.
Channel Marketing Group became involved. We ascertained corporate direction, shared thoughts on industry trends and opportunities and helped them envision what the role(s) could be. We then helped write job descriptions.
Why do I say “roles” and “job descriptions” (being plurals)?
For this company they needed someone to drive, and synthesize, their digital strategy and initiatives to help increase productivity, “customer (employee)” satisfaction and engagement, and to increase digitally-enabled revenue. They also needed someone, with
comparable skillsets, to help them optimize their operations to improve customer service, fill rates and warehouse productivity cost-efficiently.
The key was stepping back.
The incumbent, who was retiring, was involved in the interviewing process to share insights about the company and the systems. After all, he was a valued part of the management team for many years. He also supported the new individual for multiple months. He “wound down” while the ne person ramped up. He was there as an information resource.
And the same concept works for a valued salesperson who is beloved by their customers. Perhaps they handle some of the largest accounts or have been managing the same territory for years.
This is an opportunity to reevaluate your sales and support model. Consider soliciting customer input … what are their current needs? How would they like to be supported? What could be better?
Perhaps you’ll find out that
· Much of their interaction is with inside sales or sales specialists?
· They’ve automated much of the ordering process and need a different skill set?
· Maybe the territory could be divided?
· Some accounts could be better handled with a tele sales group?
· There is an opportunity to elevate others in your organization?
If You’re a Candidate … Be Creative
Okay, you read above and said, “that’s nice, but what is in it for me?” Fair question and it comes down to how creative you are and are you willing to take a chance?
Perhaps you know someone who is retiring, and you know something about that company. Perhaps reach out to the company (senior management) with an idea. Share that you know the person is retiring, state how you see changes in the market, your knowledge of the company, and share an idea on how you could help them rethink that role to take advantage of new opportunities.? Are you willing to take a chance?
So, when faced with the “I am going to retire” discussion, consider it as an opportunity to assess, evaluate and envision. And if we can help, feel free to contact me at dgordon@channelmkt.com
David Gordon
12520 Ribbongrass Court
Raleigh, NC 27614
tel: 919.488.8635
cell: 919.395.1492
http://www.linkedin.com/in/davidgordonchannelmkt
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