What You Can Learn From Under Armour’s Billion-Dollar Coup

By Brian GormanPublished On: October 30th, 2017

Paul Petrone

This LinkedIn post begins with the story of how Nike lost Steph Curry as their sneaker ambassador…and how Under Armour signed him and rose to become a major competitor to Nike as a result. While your organization may not have any “billion dollar employees,” replacing employees is costly. SHRM estimates the cost at 50% of salary and benefits for entry-level employees, and 250% of salary for technical and leadership-level employees. And, as the post demonstrates, it is not only the cost of replacement that needs to be considered. It is the loss of potential.

All too often as change practitioners, we fail to pay enough attention to the cost of employee turnover. When a big change comes along, everyone assumes turnover will occur. The cost is in dollars, and it is in lost potential. Most organizations have their own version of Steph Curry…an employee or employees who are not only strong contributors today but have the potential to become even stronger in the future. And, most organizations don’t plan for what they don’t want to happen during change… the loss of that potential.

Who are the Steph Currys in your organization? How do you help to ensure that they move through the change successfully, rather than moving on? Building “what the organization doesn’t want to happen” into your change management practice can greatly increase the value you bring, and the success of the changes that you support.

https://learning.linkedin.com/blog/engaging-your-workforce/what-you-can-learn-from-under-armour-s-billion-dollar-coup

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About the Author: Brian Gorman

Brian Gorman is the Managing Editor of Change Management Review™. In this capacity he regularly curates articles of importance to our readership; contributes original writing; hosts podcasts; and works with guest authors. For more than five decades Brian has been engaged in—and a student of—change at the personal, organizational, and societal levels. During this time, he has worked with both individuals and organizations (ranging from solo practitioners to Fortune 100 businesses), guiding them through a wide array of challenges. Decades of experience have given him a deep appreciation of the universal patterns that underlie successfully navigating even the most difficult changes. In addition to his work as our Managing Editor, Brian is a transformation coach, supporting both individual and organizational change. Brian is committed to passing his “lessons learned” on to others, so that their change journeys can advance more smoothly. He is a frequent workshop facilitator and public speaker. Brian is the author of “The Hero and the Sherpa,” a chapter in the online Handbook of Personal and Organizational Transformation (Springer Publishing; Judi Neal, Editor). He also has an extensive library of blog posts, articles, and videos on the change journey, including “The Ten Most Important Lessons I Have Learned Over 50 Years of Engaging Change.” Mr. Gorman’s formal education includes a BA in Cultural Anthropology from Syracuse University, an MA in Higher Education Administration from the University of Texas, San Antonio and an MA in Human Relations from the University of Oklahoma. Brian is an International Coach Federation (ICF) certified coach, and is an active member in the New York City chapter. Brian is also a member of the Forbes Coaches Council and the Gay Coaches Alliance.