Experienced personnel are the building blocks of a successful organization. Their knowledge and skills drive profitability; their relationships and reputations generate goodwill; and their experience ensures sound decision-making. Therefore, their loss affects the business negatively.
Due to size and succession planning, large businesses should be equipped to handle the loss of a key person. But small enterprises have limited resources, and are often built around a handful of people with unique expertise or knowledge, so the impact of such a loss is greatly magnified. It can mean the demise of the business… Read Full Article