Employers who adopt the mindset that anyone is replaceable and it would be an easy task to hire someone who has a similar or great skillset, is a dangerous mindset to be in.
When a company has a truly great employee, that employee carries value that simply cannot be replaced. They carry deep institutional knowledge of the organisation.
They have extensive product, systems, and process knowledge. They have previous experience on what has worked and what hasn’t worked for the company in the past. Great employees can influence their coworkers, which when lost, has an impact on the organisation as a whole.
One of the most important lessons I learned during my years as a CEO was that great employees are not replaceable. It isn’t the technology or the product that make a company great, it’s the people. And companies who see their good employees as “replaceable” are wrong. Good employees are not replaceable. Let me clarify what I mean by “replaceable.” Can a company hire someone to fill a position to replace someone else? Of course they can. In today’s market, the world is ripe with candidates who are eager and willing to take the job. But putting a behind in a seat doesn’t replace a great employee. It simply puts a new behind in a seat.