Know that it is much worse to keep someone in a job who is not suited for it than it is to fire someone. Don’t collect people. Firing people is not a big deal—certainly nowhere near as big a deal as keeping badly performing people, because keeping a person in a job they are not suited for is terrible both for the person (because it prevents personal evolution) and our community (because we all bear the consequences and it erodes meritocracy).
Consider the enormous costs of not firing someone unsuited for a job: the costs of bad performance over a long time; the negative effect on the environment; the time and effort wasted trying to train the person; and the greater pain of separation involved with someone who’s been here awhile (say, five years or more) compared with someone let go after just a year.
(1) In other words, your job as a manager is to build a successful company. You don’t fire people because there’s something wrong with them — a one-sided consideration. You fire them because it’s not working, and there’s no prospect that it’s going to work — which is bad for the company and bad for the employee.
(2) “It prevents personal evolution”. Namely — every moment you keep someone in a job where they’re not going to succeed does them a disservice. You’re holding them back from finding a job in which they’ll be successful. And prolonging their lack of success saps their self-confidence.
(3) We’ve fired many talented people from Seeking Alpha because “it’s not going to work”, and many of them have gone on to be outstandingly successful in other companies. Far from viewing that as a failure, I view it as a huge success — we pushed them to find the job that really worked for them.
(4) Great companies have great alumni.
(5) Thank you Guy Cohen for tip.