Some Advice on ‘Letting Go’ as an Entrepreneur
Yesterday on Inc.com there was great article by the CEO and founder of BzzAgent, Dave Balter, that discussed the benefits of positively parting ways with your employees and fostering robust alumni communities. He expresses throughout the article how crucial it is, today more than ever, for employers to keep a level head and make an effort to avoid ‘bad breakups’ with employees. He sights a number of factors that that contribute to this necessity, including the advent of social media. In today’s hyper-connected climate, maintaining communications with your past employees helps entrepreneurs leverage those relationships in order to develop positive word of mouth towards their current companies as well as towards any future endeavors. Additionally, in Balter’s opinion, your company’s alumni can provide you with invaluable insight because they have intimate details of your organization as well as an outsiders perspective. Finally, Balter notes that the tech industry is a very tight-knit community with fairly loose company allegiances. This allows for an environment where you can easily collaborate and learn from those that you have worked with in the past; given you haven’t burned too many bridges.
Balter has the right approach. As an employer it is critical to handle lay-offs and people moving on carefully and respectfully. The benefits of maintaining positive relationships with these individuals vastly outstrips not doing so. Next time one of your key employees puts in his two weeks, take a deep breath, thank him for his contribution to your company and work out a transition plan. Don’t throw his desk out the window. It’ll pay off in the long run.
