Layoffs have sadly become all too common these days. Rather than being the source of anxiety and financial distress, be magnanimous and have a policy in place for how the company rallies behind displaced employees.
Employer branding matters
In tech industries, it’s not uncommon to require an extensive notice period when a senior employee announces their departure. It can ultimately work to the employee’s advantage in a termination scenario, as a former FAANG colleague found out recently. Not only was she compensated for the 6-month notice period required, but she was also relieved of her non-compete obligations and given continued benefits coverage. Her departing words to me were, “Despite everything that went down, I will never allow anyone to speak ill of company X.”
Our industry is built on relationships. The networks we create with agencies, the partnerships forged and the trust we establish with customers are only made possible by the people powering the industry. We must acknowledge that when you stonewall part of the community who are responsible for keeping business flowing, the whole system runs the risk of getting hurt, and we all ultimately suffer.
It’s time for the marketing industry to accept that behavioral change is required. Let’s start doing things differently.
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