204 - When You Know They Need to Go: Firing Employees The Right Way

The Cash Flow Contractor

Struggling with letting go of underperforming employees? Dive into the emotional and financial complexities of letting go and learn about the importance of hiring slowly and firing quickly. Tune in!

Time Stamps

• 00:23 - Episode Intro
• 01:21 - The Human Side of Firing
• 04:01 - The Impact of Personal Relationships on Decision-Making
• 06:02 - Objective Metrics vs. Subjective Feelings in Firing Decisions
• 08:23 - The Importance of Core Behaviors and Objective Evaluation
• 15:33 - The Business Impact of Removing Underperforming Employees
• 20:02 - Making the Uncomfortable Decision for Business Health
• 22:12 - Building a Winning Team Culture
• 23:46 - Hiring Slowly, Firing Quickly
• 25:43 - Episode Outro

Quotable Moments from the Episode

• "When you're firing somebody, you're telling them they're no good. They don't measure up. And people don't want to do that to people.” - Martin Holland
• “Your profit or loss is pretty much tied up in how well your labor does. Everything else matters, but labor is the one where you get it right and it goes well, get it wrong and it blows everything up.” - Martin Holland
• “It's okay to let go of a great person if it means a healthy business, in my opinion. - Khalil Benalioulhaj
  
  

Resources

• CFC Episode 070 - When You Know They Need to Go
• When You Know They Need to Go: Firing an Employee
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