Are you a marketing leader? Chances are you are going to get fired. So, how do you get fired well?
- Over 9/10 had had at least 1 early exit/Settlement Agreement (SA)
- The highest number of SAs any one person had had was 6
- The median number was of SAs was 2 (across all career lengths)
- The first SA came between 10-20 years of a career, 2 more came in the next 10 years
- 6/10 had limited influence on the package
- The median total SA package for a 2 year tenure was typically 1 year’s salary
- 9/10 felt their wellbeing was affected by the experience
- 8/10 felt pressured through the process
- Only 4/10 left on good terms with the company and only 1/4 held no grudges
The range of settlement agreements varied significantly. Beyond the core lump sum severance payment there were some interesting package additions:
- 1/3 kept their phone, ipad or desktop
- 1/3 retained their medical insurance
- 6/10 had outplacement costs and 1/10 had wider retraining costs covered
- 6/10 kept their LTIP and bonus
- 2/10 had their coaches costs covered
This is just a snapshot of the results and if you’d like to find out more please go to XXXXX.
Change like this is never easy as exemplified by impact on personal well-being, but it can be an opportunity to reset and come back better, or come back differently. Unfortunately the chances are if you are a senior leader it is very likely to happen. If it does hopefully seeing this data will help normalise the subject and make you realise it is not all about you.
I am also here to help. As a previous CMO I have been through this experience and will not only be able to advise you on getting a better settlement but can support you on your transition into your next role with a 10 step tried and tested approach.
If this article has been interesting and you’d like to add to the data sets please go to XXXX. As a marketing leader the chances are you’ll be fired one day, so your information may one day help you.