Is it time to let someone on the team go?

Making the decision to let go of an employee who is no longer contributing to the success of a business can be incredibly difficult for any leader. It's a sensitive situation that requires empathy and clear thinking, as well as an understanding of both the potential gains and losses involved in removing someone from the team. Despite this challenge, it's important to keep in mind that parting ways with a team member who is underperforming can ultimately lead to the overall growth of the organization.

Letting go of an employee is never an easy task for any boss or manager. The whole process can be emotional and stressful, but it's important to keep in mind that sometimes it's necessary for the good of the business. Providing clear communication and support during this time can help make things less awkward and allow everyone to move forward positively.

If you're a leader who is struggling with the tough choice of letting go of an employee who is no longer meeting expectations, take a moment to reflect on whether you might be falling prey to one of these three common myths that could be delaying the inevitable.

Myth 1: I know they still have it in them.

Change happens a lot in life and work, and empathetic leaders know how to help their team members navigate through these changes effectively while still producing results. But, if results are no longer produced or if there is a shift in their attitude that negatively affects others, they may not be suitable for the role anymore. Examining performance data and gathering feedback from other team members may help you make the best business decision. Even though you want the best for them on your team, sometimes it's best to help them find their next opportunity where they can readjust and thrive.

Myth 2: I have invested too much time and resources in developing them.

It’s true — recruiting and developing talent requires a significant investment of time and resources. However, employees should not be seen as a financial burden; they are meant to help grow the business. It's important to consider the long-term costs of keeping an underperforming employee who has already undergone extensive training and development. Is it worth risking the health of your company culture? The answer is an unequivocal "no". It's essential to evaluate the true cost of retaining low-performing employees versus finding new talent that can bring more value to your team. This may include expenses such as ongoing training, technology, administrative support, and wasted time.

Myth 3: We need everyone we can get.

“Bob has 34 agents. Bob is a successful team leader. Bob is consistently one of the top teams in our market. I want to be like Bob.”

You may think growth is simply defined by the size of your team when real growth is defined by results. Sure, Bob may have 34 agents on the team, but what did it take to build a team of that size? What is his turnover rate? Most importantly, what is Bob's value compared to your own?

It may appear counterintuitive at first, but reducing your agent count can actually benefit your business through improved efficiency and improved team culture. By ensuring every single agent on board produces results must always be top priority when trying to move the business forward - otherwise there comes a tipping point where costs become unmanageable and your return diminishes.

As a leader, it can be tough to make difficult decisions when it comes to letting go of team members. It's important to remember that each situation is unique and requires careful consideration based on your organization's needs and goals. While investing time and effort into someone is admirable, sometimes cutting them loose is necessary for achieving maximum success. By understanding the value each member brings to the team and being decisive when it's time to part ways, leaders can ensure their organization moves forward with those who contribute most effectively towards achieving their goals. The three myths we discussed can help you make an informed decision based on facts rather than sentiment, allowing you to lead with empathy while still prioritizing the greater good of your team.