The biggest data breach is lost talent

Theory > Five elements of business success > The biggest data breach is lost talent

• Layoffs create bad feeling in the company

• Loss of productivity in remaining employees
• Good talent leaves fearing they are next.
• Becomes every man for himself.

• Knowledge is lost

• Good ideas that now go to a competitor.
• Data is deleted and not passed along - why should they.
• Legal agreements NDA / NC agreements are useless - can you prove when and idea was born?

Preventing this

• Coach bad performers - layoffs are a last resort.
• Never layoff due to budget - reassign to other positions.

• This results in fewer job postings - less time wasted onboarding and offboarding.

• As a last resort reduce pay uniformly to keep the company in business.

• Before doing this reduce flexible expenses - pay must be the last thing cut.

• By cutting pay you are acknowledging that employees will leave - they have bills too.

• Let employees follow their work passion through training and development.
• Forster their work passion, let it grow and create a new role for the employee.
• Focus on happiness not business, treat them like family.