The Pros and Cons of Firing an Old Employee – Bill Schantz

According to Bill Schantz , businesses that have been able to successfully achieve their goals and expand globally could not have done it without the competency, focus, commitment, and drive of their workforce.

Just the way a technologically advanced bus will get nowhere if even a single tire is missing, a business’ journey to success will not be easy or possible without a carefully selected and committed workforce.

However, at times, firing a certain employee, regardless of how many years they offered the business, becomes vital for the company’s success, safety, and growth.

Although the layoff may be necessary, firing a former workforce member will always result in certain pros and cons.

Continue reading below to learn about the top four pros and cons of firing an employee who has served the business for many years.

Top Four Pros and Cons of Firing an Old and Experienced Employee as Per Bill Schantz

Any time a manager or business owner has to fire a workforce member who has spent many years with the organization, the event is always uncomfortable, bitter, and sad.

However, according to Bill Schantz , any business’ growth and profits will always be its main goal and primary focus. Hence, a layoff, at times, is necessary and unavoidable.

Below are the top pros and cons of firing an old and experienced employee member:

The Pros of Firing an Old and Experienced Employee as Per Bill Schantz

1. Anytime an experienced employee is fired, it is usually because they are unable to offer and deliver the competency or quality of performance required of them.
2. Hence, when such an individual is removed from the workforce, the business gets the opportunity to replace them with someone far more capable and skilled.
3. Doing so can help improve workforce productivity, resulting in improved profits and higher annual revenue.
4. Moreover, at times, a workforce colleague’s layoff can serve as an excellent wake-up call for the other employees.
5. It warns the entire workforce that no employee is irreplaceable, no matter how long they have been affiliated with the organization.
6. As a result, the entire workforce gets more focused, serious, and committed to delivering their performance.

The Cons of Firing an Old and Experienced Employee as Per Bill Schantz

1. When an employee that was part of the workforce for a long period is fired, they take away a lot of key information, experience, and years of training with them.
2. Eventually, when the business replaces them with a new individual, they have to reinvest a lot of time and resources in training the new employee all over again.
3. Moreover, although it may take just a moment to fire an old workforce member, replacing them with someone more appropriate and skilled for the job can take a lot of time.
4. According to Bill Schantz , this delay between the layoff and new hiring can put extra, unnecessary pressure on the other workforce members, which might affect their productivity in a negative manner.

Bill Schantz’s Advice

Regardless of an employee’s charming nature and attractive appearance, the value they bring to the business will always be the only asset they can offer.

Hence, when an incompetent workforce member, who stayed with the organization for a long period, is fired, the business benefits by being able to reduce its payroll or replace the individual with someone far more capable and skilled.

However, according to Bill Schantz , doing so might take a lot of time and can also result in high training costs.