It’s not a situation that any employer wants to face, but it’s a fact of life. Firing an employee can be a difficult situation for both parties. You want to be sure to offer up reasons as to why the firing is happening. You also want to be compassionate because this is negatively impacting somebody’s life. The truth is though that a lot of employers act out of emotion or feel that they are justified, and they allow the firing to go terribly wrong.
You don’t have to fall into this trap, and so looking at some of the most common mistakes can help you to avoid making them. It’s about finding a fine balance, ensuring that your employee leaves on a positive note, and therefore protecting your reputation as an employer.
As an employer, you might not think of these common mistakes until it’s too late. You want to be sure that you are always fair. You want to be certain to consider that it is a person that you are dealing with. Even if their actions or work ethic made the situation inevitable, be sure that you have the right approach in firing them. Here are some of the most common mistakes to avoid when you do have to fire an employee.
Not Taking A Professional Approach To The Actual Firing
The last thing that you want to do is fire based upon emotion. You also don’t want to turn this into a public event. Even if you have just cause or the employee did something inexcusable, you absolutely need to keep the firing private and professional. You need to prepare for this and be sure that you keep it as professional as you can, for making it a spectacle can be a huge mistake in the firing process.
Take the time to think it through, gather all of the required information, and then set aside the right time and place. Doing it in the middle of the office or where others may see or hear is never a good idea. Don’t act on emotion, stay calm and stick with the facts, and then you don’t have to worry about the outcome as much.
Not Having A True Cause or Reasons To Back It Up
Far too many employers fire employees without properly thinking it through. This can be a horrible decision because if there wasn’t justifiable cause then it could lead to legal trouble down the line. You want to be sure that you have documentation for this can serve you well.
Try to build a case, hold onto any proof, or at the very least have a distinct reason as to why you fired the employee in the first place. You want to be able to point to a behaviour, a decision, or something that the employee did that is causing them to be let go. This protects you as the employer but also helps the employee to understand why this action is necessary.
Taking Too Long Or Not Getting To The Point
You may have just cause, but you wait far too long to fire them. You might feel bad for their situation or get personally attached. You may just hate the potential confrontation that lies ahead of you, and therefore you let the bad behaviour or mistakes linger far too long. This is hurting them, but it’s also hurting you in the long run. By taking too long, you are setting a bad precedent and may be contributing to low morale among other employees.
Another part of this is that when you do fire the employee, you want to get to the point. Being too wordy is a huge mistake—so just say what you mean and mean what you say, for saying too much is never good. You may end up saying things that you don’t mean or that you shouldn’t. You may also try to sugarcoat mistakes that are truly damaging. Though you want to be compassionate you also need to get to the point so that you don’t make yourself look bad or release information that should stay private.
Not Being Honest or Having Compassion
You have to be professional, honest, and sympathetic when firing an employee so be prepared with facts preferably at a performance review. You want to be truthful as to the reasons why they are being let go.
You want to keep it professional and not emotional—but you should have some empathy for the fact that they are losing their job. Yes this is business and so professionalism goes a long way here. You have to remember though that these are real people and that dealing with them with a bit of compassion can help both of you in the long run.
You want to be sure to discuss this in private and keep the emotion out of it. Be factual, straightforward, to the point, but show that you have some sympathy for their situation. This is not personal and you want to be sure to avoid making it that way. Maintaining this fine balance can really work wonders for your ability to maintain a good reputation as an employer.
Not Having an Exit Plan
It can be quite helpful to offer an outplacement service when letting an employee go. According to Velvet Jobs, some of benefits include invaluable counselling for ex employees, the ability to maintain the company image and reducing lawsuit claims. The reality is that this can take some of the sting out. It may also offer them an option to move forward with their career, and so it’s a productive measure. If you can offer outplacement services, then consider having a consultant available right after your meeting.
This can allow the employee to focus on their future in a positive way. It can make the firing less painful for them and it can ensure that you take care of your employees in one last gesture. This is truly a win win for everyone involved, so think this through ahead of time!
It’s never easy to fire an employee, but if you know what to focus on then you can make it an amicable situation. Go in armed with facts, keep it professional, and show that you care about their well being. This takes a lot of balance but the work you put into this will help you to be successful and ensure that your previous employees continue to have positive things to say about their time with you.
Trump Comments on Stock Market’s latest drop – says it’s ‘peanuts’
Trump says Tuesday’s market drop is ‘peanuts’
President Donald Trump played down the stock market’s losses on Tuesday as “peanuts” when compared with the importance of striking a good deal with China and the gains since his election.
The Dow Jones Industrial Average “was about 16,000 or 15,000 and now it’s almost at 30,000,” Trump said at the NATO summit in London. “It’s going to be at 30,000.”
“If the stock market goes up or down — I don’t watch the stock market. I watch jobs. Jobs are what I watch,” he added. Today’s move is “peanuts compared to — we have picked up record numbers so that’s OK. That’s the way I feel.”
The major stock indexes slid Tuesday after Trump said he thinks it would be a good idea to delay signing a trade deal with China after the 2020 presidential election. The Dow Jones Industrial Average fell more than 450 points at its lows on Tuesday, led lower by trade-vulnerable Apple, Caterpillar and 3M.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump told reporters before U.S. markets opened Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no. … In some ways, I think it is better to wait until after the election if you want to know the truth.”
Despite his assurances that he doesn’t watch the market’s daily moves, Trump often tweets within hours of when the U.S. equity market reaches an all-time high. He has tweeted the keyword “stock market” 107 times since his inauguration
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How to become a better businessman in 6 steps; Priceless advice from Entrepreneurs
Become a better businessman in 6 steps following this priceless advice from accomplished entrepreneurs.
- “Do something you’re very passionate about, and don’t try to chase what is the hot passion of the day.”
Jeff Bezos accentuates having passion for what you are doing, because if you don’t love it you are much more likely to give up. It’s hard to take an idea and turn it into reality, especially by yourself or when people whom you respect tell you it can’t be done. The passion and love you give to your project will determine it’s success rate over time.
- “Don’t let people who you may respect and who you believe know what they are talking about tell you that it can’t be done.”
Pierre Omidyar continues to say that often they will tell you it can’t be done and that’s only because they don’t have the courage to try it.
- “If you know exactly who you want to be, you need to spend as much time [as possible] with people that are actually that already.”
This advice from Gary Vaynerchuk is actually priceless when it comes to success in the business world. Think as well “It’s not what you know but who you know,” and surround yourself with people you look up to. Human’s adapt to their surroundings quickly, and soon you won’t just want to be an entrepreneur, you will also know how to act like one.
- “Come up with 10 new ideas every day.”
Coming up with at least 10 new ideas every day will keep your “idea muscle” in shape, which is critical for an entrepreneur in order to keep going and stay ahead of the fast paced business world. James Altucher continues to say that once you’ve done this for about 6 months you will be an idea machine. New ideas keep passionate projects alive and ensure growth in every direction.
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- Realize that, “naturally, nobody is interested in your ideas. You have to persuade them, and you have to show them that you are the one person out there that can do it.”
Robert Greene, an American author known for his books on strategy, also says that “no one is really going to help you or give you direction.” Realizing this sooner than others will give you a head start and the ability to stop looking for recognition in others. Instead, you can focus on your passion project and make it perfect, and the world will not be able to ignore it.
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- “Don’t think about ‘how do I get big fast.’ That will happen if you build something meaningful and important.”
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Danae Ringelmann’s advice is not something to skip. If you rush your ideas or your product you will be relying on luck more than anything to create success for you. While luck is certainly involved in alot of things, relying on it or betting on it to ‘get big fast’ doesn’t help you become a better businessman. Being proud of what you create, instilling passion into your work, and working hard will ensure success more than anything.
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