If you're in a position to fire, you're in a position to have some sort of responsibility for the success of the company. Don't view it as babysitting or coddling; an employee that is motivated and engaged will be more likely to exceed the goals that you set.

I don't have any emotional attachment to my employer, but I'm fiercely loyal to the individuals therein that have listened to, respected, and honestly considered my opinions. I feel a personal obligation to ensure that I meet those individuals' expectations.