I have managed teams for many years, and I have my fair share of highly competent subordinates and not so competent subordinates. If your subordinates are above average, you have it good. Work gets done on time, and you can safely delegate work and projects to them. However, if you have less than able subordinates, you will end up correcting errors, following up on projects you have already delegated, and ended up doing a lot of things yourself.
The best ones are those who can even exceed your intelligence, creativity and skill levels. These workers are hard to find, or highly ambitious. However, once you get them, you can exceed your business results, get things done quickly, and create a dream team that makes your company an outstanding leader in the market place. You need to train them, give them the goals and targets, and let them loose to achieve those results.
On the other hand, if you have subordinates that are less than able, don’t fire them just like that! There’s usually reasons why they did not perform to your expectations. Start with the belief that most people want to achieve, and be a good team player. Have frequent heart to heart talks with that person, and be a friend to find out if there’s a mismatch in roles, training or communication. Be patient, positive and always persevere. Be a career coach and help that person find an alignment with his passion and skills.