Why Firing Doesn't Always Help
Replacing key staff members can take a serious toll on your business. Instead of switching employees like cogs, study and nurture their skills
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Some private equity investors and venture capitalists talk about replacing people in companies like replacing parts in a car. Sales dipping? Drop in a new vice-president of sales & marketing. Quality problems? Try a new head of manufacturing. When all else fails, replace the chief executive officer.
Clearly there are times when people need to be replaced. And the ability to identify problem employees early and act decisively is a mark of a great leader. But seasoned managers know that when it comes to building a management team, it's not just a matter of plug and play.