For jobs earning less than $50,000 per year, or more than 40 percent of U.S. jobs, the average cost of replacing an employee amounts to fully 20 percent of the person’s annual salary.
Fire, Fire, Fire! In honor of fire prevention month, I’d like to talk about firing employees, or rather how to not get to that point. The truth is that most times, a good employee just needs some guidance to get back on track and be happy in their position. It all starts with a conversation. Sit down and see where your employee is at, sometimes there may be an issue your employee is struggling with that may be out of your control, however, you don’t know until you have had that conversation.
The truth is that firing an employee is costly. It can have further repercussions, such as lost productivity time, while their vacancy is being filled. Letting an employee go can also have repercussions with morale, so let’s see how we can avoid firing a good employee. Here are some tips on how to get that valuable talent back on track:
- Set a meeting with the employee and have a discussion about work performance, chances are they know there is a problem too.
- While it is important to address the issues that need to be corrected, don’t only talk about what your employee is doing wrong or needs to correct. Make sure to point out some of their strengths as well, so they don’t feel as if they are being attacked.
- Together, set out two or three points where the employee can focus on improving.
- Consider building an Individual Development Plan or an IDP, this is a tool that sets out strength and weaknesses, work requirements and motivates your employee to get them back on the right track.
As we have said before, a manufacturing facility doesn’t think twice about retrofitting an expensive piece of machinery if it means improved performance, why wouldn’t you do the same with an experienced employee? Helping a good employee find their best productivity, is an asset to your business.
I encourage you to start these vital conversations today. If you are unsure of how to start this conversation and process, feel free to contact me. I have helped many companies help get their employees back on the right track, and I look forward to helping yours too.