Remarkable Relationship between a Company and its Senior Employees

Senior employees are employees with a longer tenure at an organisation, with extensive experience in an industry, and would have demonstrated higher level of competence at work.

Often seen as valuable assets of a company, they are expected to possess the ability to solve complex problems, manage junior employees and make informed decisions for a team within the company, or for the company itself.

Due to more accessibility and exposure to the companies’ professional networks such as partnerships, collaborations, and industry relationships and sensitive information over the course of their careers, senior employees’ employment contracts are often worded to be more detailed and restrictive in comparison to lower-level employees to hopefully offer more protection to the companies’ business interests.

A common misconception with restrictive covenants is that a lot of people seem to think that the wider they are drafted, the wider the coverage and allows more protection against business interests should the senior employees leave.  Whilst ensuring restrictive covenants for the senior employees are tailored to suit specific circumstances, employers should also be careful that the scope or coverage of the terms are not overly broad as there is risk of the clauses becoming unenforceable.

Apart from limiting the senior employees and taking precautionary measures to limit damage to business interests during departure, successful businesses should perhaps look into rewarding their senior employees, making their careers meaningful by taking into account the senior employees’ preferences and contributions.  Customising rewarding schemes to match the needs of individual senior employees, from offering opportunities for continued learning and development, or offering flexible work hours or remote work options to improve work-life balance to offering financial incentives such as stock options as a long-term investment, show appreciation and recognition of the senior employees’ contributions to the business. 

Employers should remember that employees leave for a variety of reasons, and leaving does not necessarily equates disloyalty.  When the senior employees are on board, fostering a supportive work environment encouraging open communication should remain top priority of the businesses to encourage continued dedication of their key players.  Rewarding schemes strategies should be constantly reviewed, and appropriate adjustments should be made to ensure that the schemes remain effective and aligned with the evolving needs of the senior employees.  If departure is inevitable, adopting a positive attitude by conducting neutral exit interviews can provide insights for businesses on inadequacy, allowing improvements for the workplace to promote better retention of valuable employees.

If you think you can benefit from advice on business strategies for business growth and sustainability, feel free to contact us via email at info@lyint.co.uk.

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