Tom Krieglstein says entrepreneurs never regret firing someone but often regret keeping underperformers too long. A-players want to work with other A-players, while B and C employees stay because it makes them look better. Either fire underperformers or invest in fixing them, or watch your best people leave.
If you could start over, would you enthusiastically rehire them? Think about it for a moment, because I was in a session once with a bunch of entrepreneurs, business, small business owners, and here's what one of the man, one of the owners said to me, and I love it. They said to me, I've never regretted firing someone, but many times I've regretted keeping them too long. Oh, and the reason that matters and why that shows up is because A players want to hang out with A players, B and C players want to hang out with A players because it makes them look good. So the longer we keep those B and C players, our A players are going to start checking out. And A players are defined as people who not only excel at the job, but they also match. So make a decision if you're going to fire or fix them.
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