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2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
2.3 how to fire.pptx
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2.3 how to fire.pptx

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How to fire efficiently and professionally.

How to fire efficiently and professionally.

Published in: Business, Technology
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  • 1. How to Fire Hire Slowly, Fire Fast This presentation is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents of this presentation are the sole responsibility of Rick Rasmussen and do not necessarily reflect the views of USAID or the United States Government.
  • 2. Why fire? • When people aren’t pulling their weight everyone else in the team knows it • Almost universally your staff will say: – “Thank you, that person needed to go.” • Side benefits: – You free up much needed budget – You free up the org chart to bring in new blood – Your team is grateful
  • 3. Firing • Don’t be afraid to fire someone – It’s part of the natural selection process – No company has spare capacity for dead weight • Direct quotes from CEOs: – “I have never regretted firing anybody. Not once.” – “I have always regretted not firing somebody quickly enough” • If you know, you know. If you know, do it now
  • 4. Hope for the Best … Prepare for the Worst Protect in advance Not working out? Day of event Offer letter is clear on responsibilities and compensation Advance notice of non-performance Reviews in writing Hope for best, expect the worst Everything in writing Exit package explained Get them out as soon as possible Rights and agreements in place
  • 5. For New Employees or Contractors • On first day – everyone must sign: – Offer letter – Confidentiality agreement – Invention assignment agreement • Under proper circumstances – Employment or Consulting agreement – Stock option agreement • These outline rights during employment and protect you during termination
  • 6. Firing varies by status • Simple: Contractors – Terminate them per their contract – Pay them off. Done. • More difficult: Employees – Agree on vesting, be fair, pay them off ASAP – Likely no legal action required • Very Difficult: Co-founders
  • 7. Nice Way… • Be honest tell them specifically what did not work out • Constructive feedback – How they might think about the situation at the next company • Chances are they knew in their gut it wasn’t working and will appreciate the candor
  • 8. Formal Firing • The key goal is for the the company to be protected against: – Potential lawsuits – Potential damage to morale and culture • Tribalism • Keep your team intact • Make sure that others don’t follow this person out the door • Go through the three step process
  • 9. Three Step Process 1. Give written notice for non-performance – Corrective actions needed to get better – Make them achievable or not – Present this to them in person with a witness, usually HR 2. Review performance against corrective actions – Everything in writing – Why they did or did not make those goals – Present this to them in person with a witness, usually HR 3. Give formal notice
  • 10. The Event… • A written letter is presented in front of a witness – Optional termination agreement for them to sign if IP or confidentiality is an issue • Give them the option to resign or be fired – Key for unemployment insurance, etc. • Explain company policy for post-employment insurance (e.g. COBRA) and other benefits • Ask them to collect their belongings and walk them out
  • 11. This is not easy for them… • Do it early or last part of the day • Have them collect all belongings, computers, files, etc. • Walk them out and wish them well • Be dignified and respectful – Don’t take pride in letting somebody go – Respect who they are and appreciate what they’ve done – Don’t be a jerk
  • 12. Immediately inform staff • Call a staff meeting or send out brief email – Stops rumors and lets everyone get on with business • “This person no longer works for the company” – No reason needs to be given – Be professional and respectful – If the person is senior, you may have to do some damage control • Most people will “understand”
  • 13. Severance Requirements? • Holdover from Government and Union jobs – They need to stay in the job for x weeks after notice • Keep them out of the building if at all possible (poison) – Hand over all files – Restrict access to corporate netwoks as much as possible – Have them complete specific limited-term and measurable homework assignments – Pay them as late as possible as they vent to others or via social media • No need to tell other employees out of respect. This person is “On another assignment”.
  • 14. Termination “with cause” • Someone that has broken policy, broken laws, etc. • Immediate termination: – Prepare a notice letter (attorney reviewed) to hand them on the spot and signed now – Prepare final payment and hand them the check • Collect their keys, computers, drives, etc. – Walk them out of the building immediately – Close out all passwords and online access (IT alerted in advance) – Archive all email and account access
  • 15. Co-founders • Never nominate anyone as a co-founder unless you absolutely need to • Firing a co-founder is extremely painful – Like a bad divorce – Exits will be nasty, they will negotiate and expect a lot • Get a lawyer involved because there may be issues – Time is more important than money. – Get rid of them as soon as possible
  • 16. Hiring and Firing sets your Culture • You work hard and expect it of others • Make sure people know it’s a meritocracy and the best staff will rise to the top – We’re thankful for their contribution but it’s time to move on • Your team will appreciate your decisiveness and actions so long as you’re fair • Fired…!

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