Did you know that nearly 70% of employers have had to fire a long term employee at some point?
So, how do you let go of someone who’s been with your company for years? It’s a tough call, but sometimes it’s necessary for the growth of your business.
In today’s episode, we discuss the steps you need to take to make this sometimes painful process as respectful and smooth as possible. From assessing performance to having that difficult conversation, learn how to handle this challenge with integrity and care.
Timestamps:
00:00 Welcome to the $100 MBA podcast
00:17 The Emotional and Professional Impact of Firing an Employee
01:12 Why It’s Sometimes Necessary to Let Go
07:14 Step 1: How to Evaluate an Employee’s Performance and Fit
09:19 Step 2: Prepare for the Final Conversation
13:28 Communicate Clearly & Honestly
17:00 Step 3: Manage The Aftermath
18:51 Remind the Team of the Company’s Mission
20:42 Learning from the Firing Experience
21:53 Self-Care for Leaders After Firing an Employee
23:26 Episode Wrap-up: Thoughts on Leadership