"The good people bounce up, the bad ones bounce down" - That's a very broad, sweeping statement. I'd love to know how many people he's fired/known to be fired to see if this is true. I mean, does he constantly watch the working career of the folks he fired? How would he know whether the "bounce up" or "bounce down".
Incidentally, how the heck does one "bounce down"?
I think you guys are being a bit too literal. This is how people talk in colloquially, and it's a common phrase in the hedge fund world where I was working at the time.
If I took it literally, then I'd be imagining "good" employees literally bouncing around, and "bad" employees... well, I have no idea how to bounce down, so perhaps my imagination is not as good as it should be. :-)
However, I still don't see how you can back up your claims that good employees seem to recover better than bad employees. I don't see how you could know!
However, I still don't see how you can back up your claims that good employees seem to recover better than bad employees. I don't see how you could know!
You'll be surprised at the number of times you encounter folk you've worked with again. I suspect you're also more likely to stay in touch or hear more about the "good" employees.
It is a broad statement and relies on the good people having a good or at least neutral support situation around them. Good people can have health problem or have people they are supporting in rough situations. The net result of firing them will be "bounce down" or "bury".
As an employer you should do what best for all the people at the company, but do not kid yourself into thinking "good people" will recover and move on to a better place. It might happen and they will go on to fortune and fame. It might also be the final brick in the wall. That is just a nice way of making yourself feel better in this situation.
I took it as "bounce up" = reboot, refocus, jump to a better / better-suited position, use it as an opportunity for growth / moving up. "Bounce down" = settle for something worse quickly, victimize yourself, take it too personally, etc.
Many of the people I've let go fit this pattern. I always tried to do what I could to help them use the firing as a way of "bouncing up" (although I don't think I was very successful).
FWIW, I used to follow the careers of the first few people I let go. Not sure why exactly - combination of guilt and curiosity. I bet doing so is pretty common with younger founders / executives.
Incidentally, how the heck does one "bounce down"?