Business Brain – The Entrepreneurs’ Podcast Hiring Tips and When Layoffs Become a Reality, Part 1
We are entering an interesting time when it comes to employees. You may be struggling to find enough people to fill certain roles while considering layoffs of others to cut your costs to make it through a possible recession.
We consider layoffs to be the last resort since we believe you should protect your talent as much as possible. However, if you have certain people that are not performing or helping your company grow, we don’t think you should hesitate when it comes to letting them go.
At the same time, certain employee groups are in short supply and you may be hiring to fill those roles. We have some creative tips to ensure you hire the right people to add to your team.
Bring your Business Brain and join us as we discuss hiring in this episode and layoffs next week along with some added surprises.
- 00:00:00 Small Business Show #388 for Wednesday, July 13, 2022
- 00:02:00 Interruptions are Opportunities
- 00:02:51 Mark Cuban’s Cost-Plus Drug Company
- 00:10:54 SPONSOR: RateTracker, your credit card processing rate watchdog presented by Skysail Solutions, your trusted payments partner
- 00:12:15 SPONSOR: Shopify – For anyone to sell anywhere, Shopify is giving you a fourteen-day trial and full access to Shopify’s entire suite of features. Visit Shopify.com/sbs to get yours!
- 00:13:45 Hiring Tips
- Freakonomics: “Get back to me if you highly recommend this applicant as super-great”
- Walmart Pays College Grads $200K (or more!) to start as Managers
- Five Hiring Mistakes (a Twitter thread from @sweatystartup)
- Don’t Overcomplicate the Job
- Don’t Hire Only In America
- Don’t Fire too Slowly
- Don’t Wait too Long to Delegate
- Gary VonMyhr from Tech Defenders talks about Delegation on Small Business Show
- Don’t Micromanage
- “Tell me when I’m micromanaging you.”
- Don’t create complicated profit-sharing plans
- Instead: give out bonuses based on performance
- CalSavers (mandatory retirement program)
- 00:42:26 SBS 388 Outtro
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