Not much, look at why they are looking, is it to get away from your company, or just a second job. Either reason should prompt you into looking at why is it pay, insurance costs, are they being attacked or threatened, is there sexism/misogyny, rampant racism, bigotry, hate speech.
Nothing if someone is ready to go then maybe it's time. One door closed another one opens.
Determine their reasons for doing so and if you can remove any barriers to their success and happiness internally do so. Also, make it known that the decision is theirs to make and you’ll support what is best for them.
Train others to be better
If the employee is looking, it is too late. If you are only concerned now, you haven't done your job or haven't been paying attention. If you are aware of problems you must likely didn't resolve them to the employee's satisfaction or expectation.
Bring him in for an interview
Wish them well
Ask what you can do to help with the current issue
This might happen to anyone despite of being best or not. If I can do some, I will definitely try to keep him or her but I also will talk to - again - understand the reasons
Confront the employee and see what you can do to keep the employee
Talk to them. Let them know they're valued and have a frank conversation about their reasons for leaving to determine if there is something I can do to address the root issue.
Give him/her a more deserved slice of your revenue and more responsibility to influence the future of your company. Do not simply exploit talent for your own agenda, but rather encourage that employee to lead the direction of the organization.
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