By David Lykken
Special to MPA
As a manager, one of the most difficult things you'll have to do is fire people. No one likes to do it. It's awkward. It's uncomfortable. It can even be dangerous if the employee files a lawsuit of some kind. But most of all, as a human being, you feel sorry for the person you are letting go.
But that's why you're the manager--you're the one who's got to make those tough decisions. If you have an employee who is performing poorly, you owe it to your investors, customers, and other employees to let them go.
But you also owe it to that employee whom you are firing. Clearly, they aren't being successful with your company. Think of it this way: you are liberating them to be successful elsewhere. Who knows? Maybe someday they will even thank you for it...
David Lykken is 40-year industry veteran who has been an owner operator of three mortgage banking companies and a software company. As co-founder and Managing Partner of Mortgage Banking Solutions, David consults on virtually all aspects of mortgage banking with special emphasis executive leadership development, corporate strategic direction and implementation as well as mergers & acquisitions. A regular contributor on CNBC and Fox Business News, David also hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals. Recently he started producing a 1-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across America.