Hire Fast, Fire Faster

Ever had a workmate when you were still in the corporate world who just seemed off, always sent outputs late, was mediocre in performance, and just seemed to be there for the money? That’s because management did not get rid of them fast enough. These employees siphon off money from the company that could go to a person who, if given the chance, might perform better. Now that you’re an entrepreneur, you need to understand that people who have a lot to lose are the ones who need to be hired fast, and employees who are just slacking off every day and are just there to earn an income are the types to be fired faster.

In the world of business, recruitment is a calculated risk, but a risk nonetheless. While you may be trying your best to get the perfect employees that match the culture and the performance that your business needs, some do lie about certain things in their resume and can slip through the cracks.

Hiring fast will allow you to fill essential roles quickly, getting your team up to full strength in a snap. Moreover, it provides a unique opportunity to witness prospective employees in action, verifying if their actual work matches what they’ve claimed on their resumes. This hands-on approach not only accelerates the evaluation process but also serves as a practical filter. It helps you swiftly determine whether a candidate is a good fit for your business, promoting a more efficient and effective hiring strategy that aligns seamlessly with the fast-paced entrepreneurial landscape.

If you’ve hired fast, you should fire faster. After taking in many and realizing that certain employees, despite mentorship and coaching, still underperform, it’s imperative to let them go quickly. This may seem counterintuitive, but if you want to have your business survive and get the best of the best, swift decision-making is often a necessity. The filtering process you’ve employed to determine who fits and who doesn’t should extend to your departure strategy. Don’t settle for retaining someone just because they’ve completed the onboarding process, including training. Keeping underperforming employees can hinder your company’s growth, potentially diminishing the passion, efforts, and hard work of your more productive team members.

It’s also important to remember that retaining underperforming employees may send the wrong message to your top talent, indicating a lack of seriousness and commitment to the business.

Essentially, firing faster allows you to make room for potential all-stars who can drive your company’s success.

The adage “hire fast, fire faster” is important. Every business, regardless of size, thrives when every teammate performs at their best. Hiring fast not only allows you to quickly fill roles and begin the filtering process but also maximizes your chances of finding those star employees who can drive your company to success. It’s also crucial not to shy away from the challenging task of letting go of underperforming team members. This process may be stressful, but it’s a crucial step to save and strengthen your company. At the end of the day, it’s not just about hiring and firing; You’ll be able to look back with satisfaction, knowing you gave many people opportunities and retained those who truly matter. (GFB)