Usually a manager or a coach (in sports) who gets a vote of confidence from team ownership is not long for the world. That vote of confidence is often followed with an exit interview.
Occasionally I will ask a sales manager about someone on their team who is struggling...along the lines of "how much confidence do you have in that person?" As Stephen Covey so correctly identified in his book The Speed of Trust, people trust you on many different levels, but in the business world trust is granted to those who produce an expected outcome. When I ask a sales manager if they trust an individual salesperson and the answer is yes, what they are saying is that they have confidence or trust in that salesperson's ability to produce new business.
If you don't have confidence in someone on your team, what is that costing you? Does it cost you new clients? Does it cost you lost opportunities with existing clients? Does it cost you your time? If you don't have confidence in someone, I would encourage you to think of their total compensation package as including a significant charge for your most valued commodity - your time.
Bottom line - you are paying them more than you think!