Many business owners have heard the phrase “hire slow, fire fast.” While this may have been an effective tactic at one point in time, it’s something that seems to backfire more often than not. Managers that choose to hire at a slower pace may be doing so based on the fear of past mistakes manifesting themselves once again. Firing at a faster rate is no solution to this either. Slowing down does not directly translate to more accurate decisions.
Making a bad hire is certainly a detrimental aspect of business, but that should not be the basis of a fear to hire entirely. The longer it takes to hire new employees, the greater the chances of making a poor hire. Fear-based decisions often repeat themselves, creating a negative cycle. To avoid this, develop a steady hiring follow with the mindset that the more candidates you choose to hire, the more you can adapt to your company’s culture, immersing them with your business.
Instead of waiting for the perfect hire to show up (which is rare), always advertise any open positions that you need to fill. Recruit, network, and scout talent as much as you can without the fear that a poor hire will come along. This essentially builds a pipeline of talent, increasing your chances of finding an incredible talent that benefits your company in ways that you never expected.
Improving your interview process is a great way of maintaining these possible candidates. Get creative with how you interview rather than simply sitting down and talking to prospective candidates about why they’d be a good fit for your company. Make it more hands-on. Open-ended questions and allowing them to inquire more about your business engages them and allows them to speak much more truthfully than they would if being asked standard, mundane questions.
After the desired candidates have been officially hired, sustain this flow by providing them with the resources they need to excel at their respective positions. Set realistic expectations and offer training modules or private sessions. Should a new employee not work out, simply accept that they are not an adequate fit for the position and let them go in a professional manner; a much more valuable alternative to “firing fast.”
Maintaining a steady hiring process is an extremely effective business practice that should never be undermined. It allows your business to reach optimal candidates that may be interested in open positions, keeps them interested, and supports them should they get the job. From a business standpoint, it would be foolish not to adjust your hiring tactics accordingly.