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What would I do to an employee when he does not perform?

What would I do to an employee when he does not perform?

Update: 2023-02-08
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There are multiple answers to this question. The route I take is of compassion and being practical by giving an employee a second chance. If that does not work, you need to move very fast in letting an employee go since there is no long term value either for a company or for that individual. 

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What would I do to an employee when he does not perform?

What would I do to an employee when he does not perform?

Avneesh