You bring the employee into the boardroom, have an awkward 5 minute discussion about restructuring and the elimination of her role, thank her for her years of service, hand her the termination package with the various settlement package details, request that she returns all company property and offer to help her pack her personal items. Then, she asks about her cell phone. Can she keep the phone? Can she keep the phone number?
Whether a frontline employee on an hourly wage or a senior salaried executive with extensive and complicated variable compensation, there is an equally shared truth upon termination of employment: it hurts, and you are now required to negotiate your termination package in the midst of emotional and financial turmoil.
For true entrepreneurs, there is nothing more exhilarating and satisfying than launching your own baby into the economy, nurturing it, and watching it flourish with co-founders, friends, employees and supporters along the way. Satisfying, that is, until your co-founder starts to slack, develop a different vision, or simply become an energy suck that is destroying the business. Once the honeymoon start-up phase is over, founders either thrive in the get-down-to-business phase, or get itchy for the next creative start up adventure. Here are some big-picture tips for handling the post-honeymoon phase.