In her firing systems talk, Barbara Corcoran admits that she fires 25% of her staff each year. While this may sound harsh, Corcoran insists that she's never fired someone who didn't love her for it. The real estate mogul suggests that no one is happy doing something they're not good at. By this logic, salespeople who are underperforming are not content with their job. By dismissing them, Corcoran allows them to move onto something that would potentially make them happier.
Moreover, a workforce population who's largely unhappy will drag down the energy of the entire company, as well as drain its financial resources. By letting these people go, Corcoran is better able to take care of her top producers, as well as make a spot available for someone who's truly talented.
Corcoran adheres to a systemic approach to firing because no one enjoys doing it. She ranks all of her employees according to how much they produce, letting the bottom 25% go. This system trims the fat to improve the overall health and efficiency of the company.
Systemic Firing Approaches
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Barbara Corcoran's Firing Systems Talk Ensures Happier Employees
May 12, 2014By: Vasiliki Marapas -