Hire Slow, Fire Quickly

Hire slow, fire quickly. This is advice I give all the time to business owners making their first hires. The reason is there’s too much at stake. A small business with only a few employees has to be able to rely on that team.

A new hire that isn’t right for the business or simply not up to the job can cost a great deal in time, money and reputation if they’re dealing with customers.

That’s why you should advise your clients to take their time in hiring. Still, we’ve all made hiring mistakes. No one is happy about making a bad decision (especially a big one), but it’s essential business owners are aware early on, so it doesn’t end up hurting the business.

One way to avoid this scenario is to hire someone with a wide range of abilities – someone who can do a little bit of everything. This allows the business owner to mold them and fit them in where needed. If they hire someone with very specific knowledge, and it’s not working out, there’s not much else that can be done.

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Michael Alter, payroll expert with an MBA from Harvard Business School, is a nationally recognized spokesperson providing thought-leadership and sensible advice to help accounting and payroll professionals build deeper more profitable relationships with clients. Alter, President of SurePayroll, writes the Trade Secrets column on INC.com and is frequently published in Bloomberg TV, the Wall Street Journal, and Entrepreneur Magazine.

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