Does keeping dangerous company come with a price?

As a company manager, you know that building and maintaining a strong team is crucial for the success of your business. But sometimes, the people you surround yourself with can have a negative impact on both your personal and professional life. In this article, we’ll explore the potential dangers of keeping dangerous company and what you can do to protect yourself and your business.

The Risks of Keeping Dangerous Company

Keeping dangerous company can come in many forms. It could be a toxic employee who constantly complains, a colleague who is always negative and critical, or a supplier who is untrustworthy and unreliable. Regardless of the type of person, keeping them close can have serious consequences for your business and personal life.

One of the biggest risks of keeping dangerous company is that it can lead to low morale among your team. When people are surrounded by negativity and toxicity, they tend to become demotivated and less productive. This can have a ripple effect throughout your entire organization, leading to decreased productivity, increased absenteeism, and higher turnover rates.

Another risk of keeping dangerous company is that it can damage your reputation. If you’re seen as someone who doesn’t take care of their employees or suppliers, it can lead to a negative perception among your customers and competitors. This can be especially damaging if the negative behavior becomes public knowledge, such as through social media or news outlets.

In addition to these risks, keeping dangerous company can also have legal implications. For example, if an employee is harassing or discriminating against someone else in the workplace, it could lead to a lawsuit that could cost your business thousands of dollars in damages and legal fees.

Case Studies: The Real-Life Consequences of Keeping Dangerous Company

One real-life example of the consequences of keeping dangerous company is the case of Uber. In 2017, it was revealed that the company had a toxic culture that allowed sexual harassment and assault to go unchecked for years. This led to a public outcry and calls for the resignation of CEO Travis Kalanick. Ultimately, the company’s stock price dropped by more than 50% and they lost several key employees before finally hiring a new CEO in 2018.

Another example is the case of General Electric (GE). In 2017, it was reported that GE had allowed toxic behavior to go unchecked among its executives, leading to low morale and decreased productivity. This ultimately led to the resignation of CEO Jack Welch Jr., who had been in the role for just a few months.

The Risks of Bringing Dangerous People into Your Business

While keeping dangerous company can have serious consequences, it’s important to remember that bringing in the wrong people can be equally problematic. For example, if you hire someone who lacks the necessary skills or experience for the job, it could lead to wasted time and resources as they struggle to keep up with their responsibilities.

In addition, hiring someone who is a bad cultural fit for your team can also have negative consequences. If they don’t share your values or work well with your existing employees, it can create tension and conflict within the workplace. This can be especially damaging if the new hire is in a leadership role.

How to Protect Yourself and Your Business from Dangerous Company

While it’s impossible to completely eliminate the risks of keeping dangerous company, there are steps you can take to protect yourself and your business. Here are some tips:

• Conduct thorough background checks on all potential employees before making a hiring decision. This can help you identify any red flags or issues that might have been overlooked during the interview process.
• Provide regular training and development opportunities for your employees to help them build their skills and knowledge. This can help prevent negative behavior by keeping your team engaged and motivated.
• Foster a positive company culture where everyone feels valued and respected. This can help create a more cohesive team that is better able to handle any challenges that come their way.
• Set clear expectations and consequences for behavior that is not acceptable in the workplace. Make sure your employees are aware of what is expected of them and what will happen if they fail to meet those expectations.
• Finally, be open to feedback and willing to make changes when necessary. If you receive feedback from your employees or customers that something needs to change, be willing to listen and take action to address their concerns.

Summary

Keeping dangerous company can have serious consequences for both your personal and professional life. It’s important to be aware of the risks and take steps to protect yourself and your business from them. By conducting thorough background checks, providing training and development opportunities, fostering a positive company culture, setting clear expectations and consequences, and being open to feedback, you can help mitigate the risks of keeping dangerous company and ensure the success of both your business and your personal life.