Building a team of great employees who are all sitting in the right seats and rowing in the same direction can be the single most transformative thing that can move your business forward. A great team not only breathes life and growth into the firm, it also builds wins on top of wins. It is a self-sharpening saw. But how do you get from where you are now to having a great team in place? Fire quickly and hire slowly.
I’m always a little hesitant to suggest that a firm fire quickly when I am faced with those owners who are short-tempered or can get annoyed easily. Being quick to fire does NOT mean you should fire any of your employees when you are annoyed or when someone makes a mistake. Do not make an emotional decision under the guise of being quick to fire. However, when you can sit down and evaluate an employee honestly, and you conclude that the employee does not have the skills, ability, personality, and/or mentality to set you apart from your competitors, it is time to begin the process of moving that employee on. I have written before about knowing when to let a legacy employee go. Letting go of any employee who has not done anything wrong, but is clearly not the right fit for their position, can be very difficult. The sooner you can let go of the wrong person and get the right person in place and up to speed, the sooner you will see how drastic the impact is of having the right person in their place.
Being slow to hire is a function of making sure that after you let the wrong person go, you don’t make the same mistake twice. Our hiring process is listed on our website and we are adamant that every firm we work with follow that process. It takes longer and requires more of candidates than most other firms’ processes. This is because we have found that the system works and finds great people. Part of our hiring process is that any candidate has to pass all of the hurdles to get an offer – no exceptions. If a candidate really wows the team in an interview, but does not score well on the assessments, that candidate must be eliminated.