How Employees Factor into the Success of Your Business

Quality employees are essential for the long-term success and growth of any business.


Richard Parker, in his Forbes’ article “Identifying Key Employees When Buying a Business”, states that, “One of the most important components when evaluating a business for sale is investigating its employees.” 


In Parker’s view, one of the first steps in the buyer’s due diligence process is to identify key employees.  Parker strongly encourages buyers to determine how the business will fair if these employees were to leave or cross over to a competitor. 


Vendors should be able to articulate how key employees can be replaced and even have a plan for doing so.


It is essential that sellers are prepared to have their employees placed under the microscope along with the rest of their business.