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Ep. 134 – How and Why to Let Employees Go

Ep. 134 - How and Why to Let Employees Go

Host Danielle Mulvey shares critical information on your bottom line! How do we increase profitability?

In one or both of two ways because the only two ways are to increase margin and / or decrease expenses. Payroll often represents the largest expense in many businesses. Your average, ho-hum or worse employees who are collecting a paycheck and doing little to nothing to earn that paycheck are killing your profitability!!!

In this episode, Danielle outlines four reasons why some employees simply need to be shown the door. Furthermore, she streamlines your task by offering guidance on how to engaging with such staff when it is time to let them go.. Ensure you catch this content-rich episode for invaluable knowledge.

IN THIS EPISODE:
[01:20] Danielle reminds listeners payroll might be their largest line item
[01:48] Danielle outlines the four reasons to let someone go
[07:31] What is a “working at-will state,” and do you need to document reasons for firing
[11:47] How do you let someone go
[14:30] Do you pay severance and you must know the requirements of your state
[15:56] Performing the post-mortem
[24:33] Statistics regarding hiring decisions and news about pre-ordering Mike's new book from Amazon

KEY TAKEAWAYS:
If several failed hires come from the same background, that is a red flag toward that school or set of circumstances.
Always stand and have the employee stand when you let them go to expedite the departure.
Practice makes perfect when it comes to interviewing and making a final selection

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