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Why You Should Consider Giving Your Employee A Second Chance?
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Everyone makes mistakes, including your employees. As a business owner, the burden falls on you to determine when you should give your employees a second chance or when it’s time to let them go.
Giving employees a second chance comes with unexpected benefits, including bypassing heightened fees to attract new talent, uncovering a new fit for your company culture, and building added trust within the workplace.
Giving Your Employee AÂ Second Chance:Â Why It's AÂ Good Idea
Hiring A New Employee Is Expensive
The top reason that business owners may choose to give their employees a second chance is that finding new talent is expensive. From fees associated with recruiting agencies to lost productivity within operations, small business owners can’t afford to let go of a qualified employee.
Moreover, business owners across Australia are facing a shortage of talent, driving up wages and benefit packages. Many small business owners don’t have the resources to compete with the top dogs, making it critical to consider second chances.
Learning Curves Cost You Money
There’s no doubt that a learning curve exists for new employees entering your business. From learning the ins and outs of your technology to the processes and procedures that must be followed in the workplace, no one is fully ready to go on their first day.
In fact, most business owners won’t see new employees generate additional revenue or increase productivity for months after their start date. By giving your employees a second chance, you can bypass the learning curve phase and continue to maximise productivity and efficiency.
Finding The Right Fit For Your Workplace Culture Is Difficult
Workplace culture is a delicate factor to maintain. When your team works well together, you benefit as a business owner. Hiring a new employee that doesn’t quite fit the culture you have built can be detrimental to team productivity.
Consider giving employees that fit well in your culture a second chance to preserve the peace and promote strong teamwork. You may have larger problems on your hand if you hire the wrong fit for your company culture.
Build Trust With Your Employee
Trust can be a hard thing to build as an employer. Having an open discussion about the reasons why the employee is underperforming is critical to building trust. When employees perceive you care about them and are willing to fight for them to stay employed, they will place more trust in you and are more likely to bring a positive outlook to your team.
Summary
Giving your employees a second chance can be a great way to eliminate costs and learning curves associated with hiring a new employee. However, clear management expectations are the key to making the second change successful. Without clear guidelines and communication on the areas they are doing wrong, there will be no viable changes implemented.
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