Managing your own business can be a daunting task. The responsibility of running the day-to-day operations is ultimately on you, and it’s easy to get overwhelmed. As your business grows and you start struggling to get things done on your own, it is then time to start building a team or expanding the team you already have.
When you hire the right employees, you can take your business to the next level! Unfortunately, this is not that easy to do. In fact, when it’s time to find a new member of your team, it can be downright nerve-racking. It’s much easier to make bad hires than it is to make good hires. Bad hires will waste your time and money. And what’s more, they might ruin your business and your reputation in the process.
The business adage, ‘Hire slow, fire fast’ is the best way to keep your business running as smoothly as possible with a great set of employees. This phrase is often misunderstood, so let’s talk about what it means.
What Does ‘Hire Slow’ Really Mean?
If you’re an employer, you have every right to be a bit picky when deciding who the next member of your team will be. However, suppose your hiring process takes too long? You might end up losing great candidates who got tired of sitting around waiting to see if you would hire them. ‘Hire slow’ does not mean dragging your feet during the hiring process.
‘Hire slow’ means taking your time finding the right person for the job you need to be done. You want to make sure you hire someone who will have all of the skills necessary for effectively completing their tasks. You also want to make certain a potential employee is honest, trustworthy, and an excellent fit for your brand and company culture. This is not something you want to rush. Misjudgment on your part can have you end up with a horrible employee.
So hiring slowly is not about being slow. It’s about not rushing the hiring process. Instead, you will do your due diligence and make sure you hire the best possible candidate.
What Does Fire Fast Really Mean?
‘Fire fast’ may sound a bit harsh. Almost as if you’re being encouraged to get the firing process over with as quickly as possible, even if it means being rash. But ‘fire fast’ does not mean you don’t give employees second chances when they deserve one. And it doesn’t mean that you fire employees on the spot without allowing them to improve their performance or explaining a mistake made.
Getting rid of employees who are not working out is never easy. Especially when you’re a small business, firing can be one of the hardest things to do because maybe you’ve come to like every single one of your team members. So you might want to put extra effort into being fair and reasonable when deciding if an employee needs to be fired. No matter how much you like someone, think objectively about whether giving them another chance to prove themselves is the best option for your business.
‘Fire fast’ means when you’ve concluded that someone is not working well and has been given all of the training necessary for improving – don’t wait! The best course of action is to let them go quickly before your business is hurt. You might ‘hire slow’, but you should ‘fire fast’ if things aren’t going in the direction you need.
They go Hand in Hand
‘Hire slow’ and ‘fire fast’ really complement each other. When you ‘hire slow’ and hire someone with the right skills and work ethic for your business, it’s less likely that you will have to fire them.
Sometimes, no matter how great new employees seem to be, the unexpected does happen, and you have no choice but to fire them. If this happens, do not hesitate, ‘fire fast’ and quickly move on to looking for your next employee.
And remember, ‘hire slow, fire fast’ is not about being a lazy employer or an unreasonable one. It’s all about taking the time to hire and then, if necessary, firing someone who will not be beneficial to your business.
Making The Hard Decisions Is Never Easy
As a business owner, you will always be the one responsible for making the hard decisions. In many cases, this includes giving yourself enough time to decide who will make a great employee and firing someone who is not working out as an employee.
Like many other things in life, hiring, firing, and all things business are easier said than done. Would you like to make running your business easier? Of course, you do! All business owners keep thinking about ways to make running their business less stressful for themselves. So what can you do to minimize your stress?
The Small Business Bootcamp Can Help
The Small Business Bootcamp is a community tailored to meet the needs of small business owners. Joining this community will put you in contact with many other business owners and experts who know exactly what it takes to run a business. You will be able to collaborate with them and learn from them.
But wait, there’s still more! As a member of The Small Business Bootcamp, you will access valuable tools to help you grow your business. Learn more here!