).png)
You Can't Afford Me
Making the leap from employment to entrepreneurship can be a scary time. The biggest fear people have is the unknown. Here on the “You Can’t Afford Me Podast” we speak with hustlers and innovators on how to make the most of your journey. If you have questions we have answers.
You Can't Afford Me
The Hard Truth About Firing Employees
Letting someone go from your company ranks among the toughest responsibilities of leadership - and contrary to what many believe, it doesn't get easier with experience. After a decade as an entrepreneur, I've learned the hard truth: no matter how fair, flexible, or generous you are as a leader, you'll still be viewed as the villain when terminating someone's employment.
This raw, honest exploration of firing employees tackles the emotional and practical realities business owners face. If you're thinking you'd feel relieved if a particular employee no longer worked for you, you've already made your decision. The mistake? Extending employment 12 months longer than necessary because of misplaced loyalty or emotional attachment. Remember, you don't owe anyone anything - the organization must come first.
I share my hard-won wisdom about keeping termination meetings brief (avoid those lengthy exit interviews that inevitably become finger-pointing sessions), using the phrase "it's no longer a good fit" rather than detailed explanations, and accepting that leadership means getting comfortable with being disliked. Through personal examples, including an employee I went above and beyond for with flexibility, rapid salary increases, and understanding during personal difficulties, I demonstrate why no amount of benefits or accommodations will make the wrong person right for your organization.
For entrepreneurs struggling with difficult personnel decisions, this guidance provides the permission and framework to make necessary changes quickly. Start conducting interviews and replace that seat on the bus sooner rather than later. Your company culture and business success depend on it. Follow me for more candid insights on entrepreneurship and leadership that nobody else is talking about.
www.themrpreneur.com
In today's video, I'm going to give you the ugly truth of what it's like when you have to let someone go from your company. I've been an entrepreneur for about 10 years now and I can tell you firsthand firing someone does not get easier as time goes on. When you're first in a position to do something like this, you're trying to figure out how can you be the good guy in the situation. And when I tell you that I've done everything to ensure that we can part ways on good terms, it doesn't always end up like that. I've quickly learned that no matter what you do, no matter how good and fair you are to an individual, you're always going to be seen as the bad guy. So that's step number one you have to make peace with the fact that after this happens, the person's not going to like you. Now, of course, there are some situations where you've been working with someone for an extended period of time. They may have recognized that there were things that they did that caused us to get to this place, but that's typically not what I found. Typically, it's employees who, number one, think they can do it better than the way you're doing it. If you are thinking that you'd be relieved that this person no longer worked at your organization, then you've already made the decision. Where most business owners mess up is that they extend this for a long period of time, and I'm speaking from firsthand experience. There are people that I know I've kept on the team 12 months longer than they should have. The one thing you can do is let the personal things get in the way. Number one I looked at it as oh, they've been loyal to me. I owe them this. You don't owe anyone anything. The organization comes first. So if that person remaining on your team is going to be a problem for the organization, bring it down in some way. It is your responsibility as an entrepreneur and a CEO to part ways with that individual.
Speaker 1:Second big takeaway Do not have a long exit interview with a soon to be ex-employee. I've tried this. It never works out well. Ex-employee. I've tried this. It never works out well. They tend to just go into things in terms of like this is what you did wrong. This is why I'm leaving. This is your fault. Blah, blah, blah, blah, blah Ends up turning into a finger pointing session. I first did this in my second year of business, and I did it because when I left my last full-time job, my boss wouldn't give me the opportunity to speak my mind, and now I understand why no one walks away from the table in that situation feeling any better on either side. So just don't do it. Keep it short and simple.
Speaker 1:I've learned that the best response when letting someone go is it's no longer a good fit. You don't need to go into great detail, you don't need to explain all these things. Just say it's no longer a good fit. I appreciate everything that you've done for the organization and I wish you best in your future endeavors. It may not necessarily feel good, may not necessarily feel like you have closure on the situation, but this isn't a romantic relationship. You don't need closure. You're running a business. If this person can't get the job done or they're causing issues, it's time to move on.
Speaker 1:Next big takeaway you got to get comfortable with people not liking you. I have always had an open door policy when it comes to being a ceo. I let employees hey, if you have any issues with something, if someone is causing you difficulty, if you have an issue with me, call me out as open. And as many times as I've said this, it doesn't work out, no matter how chill or how open or how cool I think I am as a business owner, employees just aren't going to feel comfortable coming to the head of the organization to express certain things and best believe employees are talking behind your back. Yes, you are now that one. You were probably at one point talking about the boss behind his back, but now the tables have turned. That's why it's so important to remove the wrong individuals from your organization, because they will spread rumors, they will start chatter and you can see your organization start to collapse. I know I'm saying separate your emotions and just make this about business, but it is difficult.
Speaker 1:I had a recent employee where I listened to this person's concerns. They were going through difficult times in their life. I gave them the flexibility that they needed. When something was happening at home and it was last minute and they needed that time, I gave it to them. I didn't ask any questions. I increased this person's salary within 30 to 45 days of them being an employee the fastest I've ever done that with anybody in my organization.
Speaker 1:I gave them the flexibility to do the things that they deemed fit, but none of that was enough. This is what it comes down to If you have the wrong person in your organization, it doesn't matter if you give them more flexibilities, more benefits, higher salary, different responsibilities. If they're not the right person, it will not work out. So if you're thinking in your head that there is someone in your organization that you need to let go, you need to start making those steps as soon as possible. Start conducting interviews and figure out how to replace that seat on the bus Again. This is not an easy thing to do, but it's something that you have to become efficient at as an entrepreneur and CEO. I hope this information helps someone out there. If you guys are looking for more information, you can follow me, contact me, subscribe, like this video and we'll see you on the next one.