SYS 174: HR Lessons: When to Fire Fast for Long-term Business Success
🎙 Dr. Steve Day discusses the challenges small business owners face when hiring new employees who do not meet expectations. Drawing from personal experiences and a recent coaching call with a client, Steve delves into the importance of recognising early signs of underperformance and taking decisive action. He emphasises the need to assess whether a new hire is the right fit culturally, skill-wise, and attitude-wise and provides insights on handling the situation effectively. Steve highlights the significance of making tough decisions early on to ensure the overall productivity and morale of the team. Through practical advice and real-life examples, this episode offers valuable guidance on managing employee performance issues in a small business setting. KEY TAKEAWAYS 💡 Hiring the right fit is crucial for the success of a business. 💡 Address performance issues early on and provide clear feedback and expectations. 💡 Making decisions based on evidence and taking action promptly is important. 💡 Building a team with complementary strengths leads to overall success. 💡 Letting go of underperforming employees benefits the company and the individual in the long run. BEST MOMENTS 01:32 - 💬 “When we take on somebody new, there's this period, we call it the probationary period, but it's this honeymoon period if you like when you are really feeling each other out, like they're looking to you to say, like, is this somewhere I want to work?” 17:05 - 💬 “If you fire fast, then you've got an opportunity to find somebody else who does shine in that role, who you do gel with.” 18:47 - 💬 “If somebody is hungry for work, if somebody has abilities, if somebody is a good fit culturally and on a value space, it will show from day one.” 19:21 - 💬 “If you don't have something to balance any negatives, that's a real positive to balance negatives, then it's all leaning one way and inevitably, I think that's destined to failure.” TIMESTAMPED OVERVIEW 00:00 Evaluating potential hires for compatibility and performance. 03:30 Struggling employee performance, unsure about next steps. 07:08 Reflect on onboarding, admitting failure, and impact. 10:55 Employee value and connection are crucial for employers. 17:21 Build a team with complementary superpowers for success. 18:31 Look for balance when evaluating people. VALUABLE RESOURCES Website: https://www.systemizeyoursuccess.com Facebook Group: https://facebook.com/groups/systemsandoutsourcing/ LinkedIn: https://linkedin.com/company/systemsandoutsourcing/ Instagram: https://instagram.com/systems_and_outsourcing/ YouTube: https://youtube.com/@drsteveday42 ABOUT THE HOST Steve used to be a slave to his business, but when he moved to Sweden in 2015, he was forced to change how he worked. He switched to running his businesses remotely. After totally nailing this concept, he spent his time helping other small business owners do the same. Steve has been investing in property since 2002, has a degree in computing, and worked as a doctor in the NHS before quitting to focus full-time on sharing his systems and outsourcing methodology with the world. He now lives in Sweden and runs his UK-based businesses remotely with the help of his team of Filipino and UK-based Virtual Assistants. Most business owners are overwhelmed because they don’t know how to create systems or get the right help. Our systems and outsourcing Courses and coaching programme will help you automate your business and work effectively with affordable virtual assistants. That way, you will stop feeling overwhelmed and start making more money.