How to Exit Your Millennial Employees
Two weeks ago we hosted our first Learnitect Breakfast Roundtable Series and welcomed COOs and Heads of People from leading fast growing tech companies Benivo, Deliveroo, Salesforce, Mastered, Freshminds, Yoyo Wallet, Pockit, Circle and Cisco.
The “exit” part of the employee lifecycle is an often overlooked opportunity. When managed well, employee exits can be done with a positive feeling on both sides. Former employees can be a future customer or referrer of future employees and business opportunities.
A comprehensive “alumni” programme may include a LinkedIn group, events (social or business-related) and employee newsletter.
Here are some more practical best practices for managing exits:
Do not keep employees that are a bad fit for their current role. Roles and responsibilities change as your company grows. If the employee is no longer a good fit, the best thing to do is to let them go. This also applies to employees with a toxic attitude. Failure to let them go may poison your organizational culture.
Keep exits positive – celebrate your former employee’s contribution. Be conscious of the morale of the employees that remain.
Inform the rest of the team together, if possible. Bad news travels through the grapevine fast.