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Posted on Mar 21st 2019
Pay Pros Idaho: Termination Timing Has a Cost
Timing is as big a cost factor in the firing process as the amount you're paying the person you're replacing.
It's like watching the price tag go up and up, and even further up, as you walk along the wine rack. The further you walk, the higher the price.
Firing someone at the wrong time can result in avoidable outbursts, confusion, disruption, and liability. It can also result in an unnecessary hit to your bottom line through lost time and money.
It's no secret that replacing an employee is a large time expense. But dragging it out only exacerbates the cost you incur in the firing process. Avoidance can add months and thousands of dollars to your replacement process, not to mention additional expenses in lost productivity among other employees.
If you have an employee you know you need to terminate, act quickly. Don't let yourself walk further down the aisle than you can afford.