If you know it’s time to let an employee go, rip that bandaid off.
Finding and keeping outstanding talent is hard. I’d argue it’s one of the most important things a business owner does.
(Even if you’re a “Team of One” and only work with contractors, the same applies.)
This note isn't about how to find good talent. It's about letting people go then they don't belong in your business.
From experience, sometimes it's painfully obvious when it's time to get rid of someone. Sometimes it happens in a snap -- a teammate does something so eye-popping you have to fire them.
Other times it happens slowly. And they're a valuable member of the team despite the headaches they give you.
Maybe you've heard the saying:
Hire slow. Fire fast.
It's true for a few reasons. Firing fast means:
The role and its budget are open sooner. You can fill it faster.
You stop focusing on the negative and turn your attention to the possiblities
No pussyfooting around with "Should we / Shouldn't we" slow decisions
I hope you don't need to let anyone go. But if you're interested in scaling your business, it's going to happen with a team. And that inevitably means you will have to do the dirty work of letting someone go.
When you do, gather the facts. Make your decision. Move on.
People power,
Peter
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PS: Have any tragic hiring or firing stories? Hit reply and let me know. I'd love to learn how you handle it.