If you have certain employees who are critical to operations and would be hard to replace, take steps to secure them before a sale.
Noncompete contracts can be one way to reduce employee defections. Take a look at your employee agreements, too, and ensure you have appropriate non-disclosure and “no raid” covenants.
Give careful consider to “stay bonuses” as well. Provide an incentive for employees to stay for a period of time post-closing. Talk with your advisors and buyers about other incentives, such as stock options, which can minimize defections.
