Hire Slow, Fire Fast: Is Your Company Doing It Right?
Many companies use the hire slow, fire fast approach when it comes to getting the right employees. Yet are companies carrying out this old business concept the right way?
Hiring slowly isn’t just about replacing someone who left. You should take the appropriate amount of time that will allow you to bring the right person into your organization. This could mean evaluating what the company requires from the new hire and any skills and attributes that will help correlate to long-term success. It also involves knowing how well candidates will fit into the established team dynamics.
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How to Determine the Right Fit
Firing quickly means quickly letting go of someone who is not a good fit. Nonetheless, you can limit such instances if you forgive small mistakes, aid new hires through their entire transition period, and put more emphasis on long-term benefits instead of immediate needs. It is helpful to think of firing as a hiring mistake and learn from the situation.
There are a few things hiring slowly and firing quickly does not mean. It does not involve hiring someone without considering all of the hiring criteria that are in place. Yet it also doesn’t mean always hiring someone who matches all of your requirements because good hires can be trained to excel in their roles. Firing should not be done on a whim and selective hiring should not be done with overly high expectations because you still want to build a company people want to apply to and get hired.
To have an efficient system in place, you should determine what the right speed of hiring and firing at your company is. If you know what speed works best for your company, you can maintain positive company culture, keep the company agile, and make all of your employees happy, ultimately creating long-term success for all.
The job market is currently growing. Is your company going through the hiring process at the right speed?