There are many self-professed recruitment experts out there who contend that the “slow to hire, quick to fire” strategy is nonsense. Some are of the mind that those who are slow to hire operate out of fear and end up making bad hiring decisions in the end. Some also believe that employee turnover is simply bad for business. However, as we discussed in a recent blog, turnover can be healthy when the employees being let go are poor fits for the organization.
The way we see it, being slow to hire and quick to fire is a very beneficial business practice. Let’s take a look at why.
Why being slow to hire is beneficial for your business.
When you take your time to find the right fits for your company’s culture, you ensure that your new hires will mesh well with the individuals who already work for you. The importance of a high-energy atmosphere and positive working environment should never be underestimated.
As Bubba Page puts in on Inc.com, “it is critical to make sure people fit in with your other teammates. Be bold and strong on one side of the spectrum, so that people know clearly that they are either a perfect fit or a lousy fit for your culture.”
In addition, it only makes sense to take the time to make sure that the candidates you’re considering are fully capable of handling the rigours of the job. Most interviewees are prepared to answer questions in ways they feel will impress their interviewers. But are the answers always truthful? Take the time to check references, do criminal background checks and, when necessary, have candidates take industry-recognized skill assessments to truly ascertain their levels of competence.
Why being quick to fire is beneficial for your business.
No one is saying it’s wise to go on firing sprees. Most every business owner is well aware of the high costs of having to replace employees who no longer work for them. However, poor employee performance is something that can truly drag a business down. Yes, it’s important to offer feedback and training sessions in efforts to improve performances. But knowing when to draw the line is a key ingredient to your company’s success.
Not to mention, workplace chemistry is everything. Is it worth it to hold on to an employee who may be a great worker but a lousy teammate? “We need teams in which everyone can trust each other to do a great job,” insists Greg McKeown of the Harvard Business Review, “If ‘hire slow, fire fast’ sounds harsh or mercurial, consider how harsh it is to allow a whole team to be held hostage by someone who should not have been hired in the first place.”
“I should have let him go sooner.” This is a phrase we hear time and time again. Here at Hire Value Inc. It’s a clear indication that far too many employers are holding on to employees who are only hurting their businesses for far too long. For more expert advice on how being slow to hire and quick to fire can help your company, give Hire Value Inc. a call.