In my last blog post, I wrote about the importance of putting together a cash flow plan. This 12-month plan will help you evaluate your financial projections so you can make the necessary changes to see your profit grow. As we continue to move through 2017, the next topic I’ll touch on is the tough issue of letting go of employees that bring you down.
6. Let Go of Employees that Bring You Down
We’ve all been there. Maybe your employee or coworker wasn’t a team player. Maybe they were costing the company more money than they were bringing in. Maybe they were dishonest or just not the right fit for the job. Whatever the reason, this employee is a downer and is bringing the entire company down with them whether you know it or not.
Author Jim Collins in Good to Great said that the “right” people are those who exhibit the desired behaviors anyways, as a natural extension of their character and attitude, regardless of any control or incentive system. Think about how powerful that statement is and the impact it can have on your business. “Trying” to motivate people is a waste of time if you’re spending more than 5% of your time doing so. If you have the right people, they will be self-motivated. Here, the inverse is true; try not to de-motivate them.
When in doubt, don’t hire. Keep looking to find the right people. Then, when you need to make a change, act and act quickly. If you’re still not convinced that now is the time to let go of a problem employee, there are even more consequences to think about. Keeping these problem employees around can deplete your confidence as a leader, and there’s nothing worse than losing a good employee because a bad one pushed them out.
Use the New Year as an opportunity to take a good look at the employees in your organization that may have become a problem and determine the best course of action for the greater good of the company. It may be difficult to let an employee go, but you will reap the benefits once you find someone that truly fits your company culture and does their job well.
Next week is the last of the seven commitments for a big year! I will discuss why you need to mind your health.