26 EMPLOYMENT
Ways to manage
those moving
experiences
David Coupe
partner with Clyde & Co
Spring has long been a popular time for broking and
underwriting teams to move employers, but, making the
move can be fraught with difficulties. David Coupe, partner
with Clyde & Co’s corporate insurance group, provides
recommendations on how companies can minimise the impact
of employees leaving - or new teams joining.
Traditionally, spring is when teams move half of whom said they would always litigate, means that relationships between a team
between employers – once major renewals irrespective of the size of the potential loss. and their current employer will be irreversibly
are out of the way, and employees have damaged, it is worth asking what brought
banked their annual bonuses. Such moves In recent years, the London insurance broking the resignation about, and exploring whether
are a real concern, particularly as they can market has witnessed many such team moves, these issues can be addressed.
be costly. some of which have been highly contentious.
However, if they are carefully planned and Tempting teams to stay
In fact, 40 per cent of attendees at a seminar executed, companies can avoid many of the For example, are there any financial penalties
held by Clyde & Co in 2009 said that a team potential ramifications. or incentives that might persuade the team
of employees moving to another company to stay? It is amazing how many teams
was likely to cost them over £250,000, while It is important that companies proactively do not check their pension and incentive
the same percentage estimated costs to be in try to do this since team moves are set arrangements before they resign.
excess of £100,000. to continue, as companies recognise that
attracting established teams is one of the few On the other hand, while offers of retention
Further, some 75 per cent of the audience available ways to increase their business. With bonuses or pay increases may keep employees
said that their company had been affected by banks still reluctant to lend and little venture in the short term, statistics show that the
a team move in the last 12 months, and the capital available, human capital remains the majority of staff will still leave within the next 12
audience was also surprisingly willing to take best way to grow the balance sheet. months. Therefore, the reasons for the original
legal action, with 90 per cent saying that they resignation need to be addressed in order to
would litigate in respect of a team move – While the very act of resignation generally make any moves to retain staff worthwhile.
Insurance Brokers’ Monthly February 2010
Employment 26-27.indd 1 1/2/10 13:51:58
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36