Attrition

We had a happy hour and dinner last night to celebrate two colleagues. One will be moving back down to LA and staying with Secfi. Another will be taking a good opportunity at a pre-IPO company. It was a great night and obviously a bit bittersweet.

Attrition is hard to deal with anywhere, but much harder to deal with at a startup. You don’t want large attrition numbers but at the same time, attrition is always going to happen. The best companies will see regular attrition as they become great training grounds. In a few years at these companies, employees will ideally be highly sought after by other employers or become good feeders into the new generation of startups.

As a startup, you want your employees to be desirable. It means you’re doing something right. At Secfi, I’ve always had the mentality that everyone (including myself) is replaceable. We need to be constantly hiring and training people to take the next step. There comes a time for everyone to leave, and we always need to be preparing the company for attrition.