Turnover, whether voluntary or otherwise, can have a lasting impact on a small business, and its success. While most individuals wear multiple hats to support the day-to-day operations, as a business grows, Capture Managers or Executives are a ‘one man show’ for the start-to-finish capture lifecycle. While this is functional, not strategic, when that person leaves it can cause a significant hole in capturing government business.
Capture Managers’ Storage Systems
Around 80% of information gathered by Capture Executives is kept in their heads or on their laptops in various documents and directories. While this is a functioning operation for the short-term, it certainly does not lend itself to long-term success, succession planning, or supportive quality control procedures. Additionally, when that person leaves, because all of the information leaves with them, the capture currently in progress generally fails. The lack of knowledge-share with the rest of the company suddenly impedes progress.
Do You Need to Prepare?
Unfortunately nowadays, this isn’t a situation of if this is going to happen, it is a situation of when it will happen. It is crucial that a company takes the necessary steps to implement strategies, procedures, and a knowledge-share platform that supports information capture and exchange, as well as status and progress of potential business. We are far past the of notes, progress tracking and other opportunity-related information.
The Importance of Information Retention
There are two keys to retaining internal Capture Manager information: The first is old-school, and relies on personally shared information. Meet with your Capture Manager to discuss contacts and intelligence gained… But then what. All of that information needs to be documented; mental retention can only do so much.
Which is why the second key comes in the form of a CRM, or any automated business solution that provide a full spectrum of functionality to alleviate the pain points experienced when personnel leave. An effective software solution retains information gathered and allows management to measure the information gathered. This enables management to determine gaps throughout the existing capture process, determine new needs and knowledge share opportunities, and create a secure information-sharing environment so that all applicable players are well informed.
Your Mitigation Strategy
Loss of personnel requires a mitigation strategy be in place. The impact that a particular loss has on your company shouldn’t be so severe that it shuts down your capture and growth, setting you back months due to loss of information and business intelligence. Adopt processes, procedures, and a technological solution to support and realize your mitigation strategy. It is most certainly worth the investment.