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A former employee of hedge fund manager J. Ezra Merkin claims Merkin was warned about Wall Street swindler Bernard Madoff (MAY'-dawf) years before losing tens of millions of dollars of investors' money in Madoff's Ponzi scheme. Manhattan state More
RELATED CONCEPTS How to fire Employees without Sacrificing Compassion. If you dismiss an employee for "cause," a clear, well-written statement of the reasons for the firing will inhibit any future law suit by the worker. Even if he or she is the worst employee imaginable, you will still find yourself reluctant to terminate that employee. Lastly when this fails, the boss can choose to sack the employee. Just make sure to highlight the jobholder's strong characteristics in your notice and say nothing about the weak ones. It's similar to the verbal notice, except the tone is disappointment and more threatening. 13) Give a contact person when the worker wants to discuss the termination after the meeting.

The Basics of Sacking Employees. Step 3 in How to layoff Someone: Perform an Exit Interview. For example, you may have to separate the employee on Friday, but can't get a check cut until the next Tuesday. Insubordination: Released a toxic gas when involved in horseplay (Can lay off right away.) As a owner, you have to remain objective as you collect information in the exit interview, and cannot get defensive at the statements made by the employee. If you were the ex-worker's supervisor, you'll probably be your own "star witness." Since you have had the most dealings with the employee, you're the best individual to testify about his behavior. Having Standards for Employee separation Is A Good Company Practice. Lastly repeat these major procedures regularly at company meetings.