What Does it Mean to Hire Slow, Fire Fast?
In November 2021, 4.5 million people chose to leave their jobs. The media called it a Great Resignation. Now, several months later, we are in the Great Realignment, a time during which businesses are grappling with hordes of new hires they brought on as replacements. Not every new hire was the right choice: 3 in 4 employers say they’ve hired the wrong person for a position.
In today’s environment, businesses need to return to their old maxim of hire slow, fire fast. But what does it mean to practice that philosophy? It doesn’t mean managers should fire employees on a whim or that they can afford to wait for a perfect candidate. It just means that hiring practices should reflect the company’s long-term needs as they currently stand, not focus on exact replacements. Decisions about termination should be based on fit - or lack thereof - between employee and company. That’s all.