Chad SilversteinBuilt To Lead · Entrepreneur , Advisor, & Thought Leader

Overcoming the Fear of Hiring Top Talent

Name: Overcoming the Fear of Hiring Top Talent
Uploaded: 2025-01-10T14:35:35+00:00
Duration: 28 s
Channel: Chad Silverstein
Description: In this segment of Chad Silverstein's YouTube video, he advises leaders to mitigate the financial risk of hiring expensive talent by implementing a…

10 Jan 2025 · 0 min

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In this segment of Chad Silverstein's YouTube video, he advises leaders to mitigate the financial risk of hiring expensive talent by implementing a 90‑day probation period. He explains that the cost of a high‑salary hire is only incurred for the first three months if the employee does not meet expectations, dramatically reducing potential loss compared to a full‑year salary. Silverstein stresses the importance of setting explicit expectations and measurable milestones from the outset, so both parties know the performance criteria and can make an early termination decision without surprise.

Remember, if you're hiring someone that is very expensive, you're not spending $150,000, $200,000 unless you decide to keep them the whole year. Meaning that if they're not good after 90 days, you cut the cord, then you've only spent $15,000, $20,000. And that's a lot better than losing a year's salary because you wanted the person to work out. So be clear with what you expect and create milestones so that the, the person does it or doesn't. And if they don't, then you can't keep them. And you just make that clear up front so it's not a surprise later on.