How to Fire Employees Without Killing Company Culture
Hiring and firing employees: Both come with the territory when building or maintaining a business. Of the two, handing out pink slips is certainly the most fraught. Handled the wrong way, a poorly enacted dismissal can send shock waves across a business, instill doubts and insecurity, and degrade employee morale. Retain workers’ confidence by speaking openly and honestly about decisions as they’re made. Acknowledge the burden placed on remaining teammates, and back up your words with supportive—and tangible—actions.
by Lauren Dixon on Talent Economy
Leaders, Stop Avoiding Hard Decisions
Leaders often put off making difficult decisions for one or more of these reasons: 1) They want to be fair, 2) they want to reduce employees’ pain or stress, and 3) they want to make absolutely sure they’re making the best decision. Unfortunately, taking an egalitarian approach can have disastrous—and irreversible—results. To avoid inciting gossip, eroding trust, and sparking skepticism, transparently share difficult news as soon as possible. Here’s why postponing a tough call could be the worst decision a leader makes.
by Ron Carucci on Harvard Business Review
A Simple Proposal to Help Fix Corporate America’s Cybersecurity Problem
Another day, another security breach. The latest population hit? Customers of Sears, Kmart, Best Buy, Saks Fifth Avenue, Lord & Taylor, and Delta Air Lines. Could a simple cybersecurity grading system protect consumers? Maybe. One thing’s for sure—what’s been done to beef up digital security so far isn’t working. To say the situation is out of control would be an understatement, and solving it has proved both difficult and complex. Assessing a company’s cyber preparedness with an A-F grading system could go a long way toward easing consumer anxiety.
by Craig A. Newman on the New York Times
Four Ways Forecasting Goes Wrong
Every entrepreneur knows that having accurate information about the future is vital to running a successful business. Follow these tips to keep your forecasting efforts on track: 1) Never forecast without a budget (and vice versa). 2) Make sure your projection process aligns with your business strategy. 3) Focus on “big picture” forecasting (work through details in the budget). 4) Follow the 80/20 rule. 5) Translate real-time data into the right balance between internal and external metrics.
by Ashish Pareek on CFO
Q&A: Wonderlic President and CEO Charlie Wonderlic on Evaluating Talent
Wonderlic, Inc. has provided pre-employment personnel tests to all kind of businesses—including the NFL—since 1937. In this age of virtual employment, CEO Charlie Wonderlic believes accurately predicting job candidates’ performance could be a game changer, particularly when the employer may never meet their hired talent face-to-face. Here he shares his thoughts on the importance—and value—of assessing candidates’ cognitive abilities, motivation, and personality traits when hiring for virtual roles.
by Patrick Gorman on Chief Executive