Identifying the key issues will determine how to proceed with a termination or a potential development plan. After analyzing the new-hire data, ask whether the shortcomings can be overcome. You many have been faced with a tough decision to replace an All-Star with a less qualified or less experienced candidate. If so, was proper training delivered? Is the new hire willing to learn, and is there proper supervision and performance documentation to improve? Evaluate the cost and impact of replacement. Consider the financial implications of replacing the employee versus investing in training and professional development. SHRM, the Society for Human Resource Management, reports that the average cost to replace an employee is six to nine months of the employee’s salary. A replacement could impact team morale and workload. Will firing and rehiring create additional stress? And, if you’re still experiencing high turnover, be wary that a termination could negatively impact company culture.
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