As a business owner or entrepreneur, you hire employees to do a good job and help free up your time to make more money. From time to time, you may hire or promote someone that cannot perform their duties appropriately, or lack the competence for the position they have been assigned.

This lack of competence can affect your bottom line by lost sales, lost profit, and customer dissatisfaction. As soon as this problem has been identified, it must be dealt with immediately: either through retraining or job reassignment (through possible demotion or termination.)

An Example of the Cost of Job Competence:

Consider that you own a computer store. A customer decides to purchase a laptop. Arriving at …

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