Business By Hormozi #107: Hiring Fast Creates Temporary Fixes That Become Permanent Handicaps

The Cost of Quick Hires

When Mark first started his business, he was under immense pressure. There were gaps in his team that needed to be filled, and the constant rush to keep operations running led him to make quick decisions. He hired employees as quickly as possible, hoping to solve the immediate issues. It seemed like a quick fix, but what he didn’t realize was the long-term consequence of hiring too fast.

He quickly realized:

"You have a bad team because your pain tolerance is low for working overtime to wait until you find the right person for the role long term."

The rush to fill gaps led him to settle for candidates who weren’t the best fit, and before long, these "temporary fixes" became permanent problems for the business.

The Pitfalls of Hiring Too Quickly

While it may feel like a quick hire can alleviate stress and move things forward, there are significant risks involved when you hire in haste:

• Lack of long-term fit – If you hire someone quickly to fill a gap, they may not align with the company’s vision or culture, which can cause friction later on.

• Increased turnover – When you hire without taking the time to ensure the right fit, the chances of having to replace employees increase, leading to more disruption and instability.

• Lower team morale – Employees may become frustrated or disengaged when they see underperforming or mismatched team members, affecting overall productivity and morale.

Mark’s initial decision to hire quickly resulted in a team that wasn’t cohesive or effective. What he thought were temporary fixes became permanent issues, slowing down progress in the long run.

The Power of Patience in Hiring

The key lesson Mark learned was that building a strong, reliable team takes time. The pain of waiting for the right person is temporary, but the benefits of a good hire are long-lasting. Here's why being patient in the hiring process is crucial:

• Finding the right fit – Hiring the right person means they will integrate seamlessly into your team, improving productivity and communication.

• Building a strong foundation – A strong team provides the stability needed to scale and grow a business.

• Investing in long-term success – Patience allows you to find candidates who will stay with your company and grow with it, rather than needing constant replacements.

By resisting the urge to rush the hiring process, Mark could ensure that every new addition to his team was aligned with the company's values and objectives.

How to Hire for Long-Term Success

Here’s how Mark changed his approach to hiring, focusing on long-term success rather than short-term fixes:

• Set clear expectations – He established a clear job description with specific criteria, focusing on both skillset and cultural fit.

• Take time to interview thoroughly – Rather than rushing through interviews, he took the time to understand each candidate's experience, work ethic, and vision.

• Focus on values and potential – Mark started looking for candidates who not only had the skills but also shared his company’s values and had the potential to grow within the business.

• Invest in onboarding and development – Instead of merely hiring and forgetting, he invested in training and developing new hires to help them succeed in their roles.

By focusing on hiring for the long-term, Mark built a stronger, more resilient team.

Conclusion

In business, it’s tempting to hire quickly to fill immediate gaps, but that can lead to long-term problems. Hiring fast to fix short-term pain often results in creating permanent issues for your team. The best teams are built by patience and thoughtful decision-making, ensuring that every hire aligns with the company’s vision and values.

Remember, temporary fixes can become permanent handicaps. Take the time to hire the right people, and invest in a team that will drive long-term success.