Nearly 3 out of 4 of employers say they’ve hired the wrong person for a position. Sometimes businesses fail to perform due diligence on seemingly-great hires. Other times, the culture simply isn’t a good fit. This is where the phrase hire slow, fire fast comes into play. Companies should focus on hiring the best talent they can to avoid costly mistakes later on. Any mistakes that slip through the cracks ought to be rectified when possible.
Given the current labor market where millions are voluntarily leaving their jobs, the hiring process can seem impossibly hectic. Remember: “hire slow, fire fast” does not mean firing employees on a whim. Firing fast is not a replacement for training, coaching, or changing the role of an otherwise good employee. Moreover, selective hiring is a luxury. Companies with high expectations need to be places where people want to work if they want to attract the talent they desire.
Why is it important to hire and fire at the right speed? It maintains positivity in corporate culture. Teams work better together when the right people come together. If an employee is a bad fit, they won’t be happy staying. Don’t make the team suffer for 1 person.