It may be the nicest thing you do this week
We get it, the title may sound a little harsh and some are probably thinking we’ve lost our minds in believing that firing someone could actually be nice, but that doesn’t mean we aren’t right. So often managers have the misconception that their main job function is to fix people. For those who haven’t figured it out yet, if you can’t fix your spouse or significant other, you certainly can’t fix your non-performing employees. The main reason is they are not broken. They’re most likely just miscast, unless of course you have one of those employees who are lazy, crazy, or stupid (That’s a completely different blog article). Here’s the point… Firing someone can give that employee an opportunity to find a career that fits his talents. Firing an employee allows your producers to do what they do best instead of covering for the weak link. Firing an employee sets the tone for the team with expectations and accountability. Firing an employee allows you and your team to better meet the customer’s needs and contribute to the bank’s bottom line. Firing an employee will most definitely improve the morale of your best people. Now the next question, “how do I know it’s time to fire someone?”
When your community bank’s ROA is below 1.0
If your bank’s ROA is below 1.0 and it’s showing no signs of improvement, then something is obviously broken and someone should be fired. If this is the case in your bank, the issue really begins at the highest levels and in some cases, reaches all the way into the boardroom. Whether senior leadership is held hostage by a weak board of directors or senior leadership is the issue, someone should be fired for a stagnant ROA below 1.0. This is a problem that can be fixed, or at the least, can be managed around a weak board if you can’t get rid of certain members. However, in cases like this, 90% of the time, someone at the board or management level needs to be dealt with immediately. If you’re a senior manager and you can’t clarify what needs to be done, then you might be the person that needs to be fired.
When it’s always the Millennials’ fault
It seems these days that Millennials are the go-to group for laying the blame of life’s struggles. We see several articles and news stories each week pointing fingers toward the Millennial generation for the woes of the workplace, the economy, disrespectfulness, and laziness. This happens in banking as well. If your bank or your team is not performing, it’s less likely the fault of the so-called lazy, disrespectful, apathetic millennial generation and more likely the fault of the baby boomer, hippie generation that is in senior management and running the bank. Excuses for a generational group is nothing more than the first reaction to not having any type of expectation, non-negotiables, or standards of excellence. The excuse makers and fault finders should be fired and replaced by a real manager that will match talents to task and support the goals of the bank.
When there’s no Valedictorian
We read an article recently about a North Carolina school board voting to stop naming valedictorians, citing what it calls “unhealthy” competition. As stupid as that sounds, this same insanity has been flourishing in community banks for quite some time. If your bank is not keeping score and tracking to see which employees are performing and not performing, then someone should be fired because that’s in the same league of stupidity as this NC school board. By failing to set a standard and track the success, you end up lowering the bar in an attempt to make everyone equal. The result is that no one strives for success and you end up with a bunch of mediocre, good enough mentality, type of employees. Your best employees deserve to be recognized for their performance. At the same time, by keeping track, you’ll quickly see the weak links and the miscast employees. With that information, you can begin to make necessary adjustments, training, coaching, and recognition. Odds are, no one will even need to be fired, except for maybe the person that had the bright idea in the first place of not wanting to track anything.
Lack of action causes a reaction
Keep in mind that firing the non-performing employee is an action that brings clarity to your team and the bank. Not firing this employee causes a negative reaction within the ranks of your top producers. Many managers fail to see this and as a result experience a loss of engagement and production from their superstars. While trying to be nice in not firing the weak link, you’re being the opposite to your best people and your customers. At the same time, by not firing the weak link, you’re keeping him from beginning a career that better suits his talents. The lack of action creates a lose-lose situation with all involved. Step up, be nice, and fire someone today!
