Plenty have fallen into that category and they will suffer because of it. Staff wont stay as no one cares. Used to see it when companies changed from promoting from within to sourcing less experienced from outside. They are protecting their own jobs by stagnating who they have under them.
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Yeah, it reminds me actually of a little cafe that opened up near my flat when I was a single man. As it was nearby I used to pop in for my hangover breakfasts. It was amazing, great food and good prices. Service was with a smile and they were always friendly. Obviously it became a big hit. The guy had to take on more staff, even buying the place next door and expanding into it. Eventually it was doing so well that when I was talking to him once he said he was going to live in France in a place he had bought. He buggered off, leaving the place in the hands of a newly hired manager.
Soon the food quality became shit. The staff became surly and everything went to pot. Then when trade fell off dramatically the owner returned but by then it was too late.
It's a bit like that with every company no matter the size I presume
Sounds about right. That is a common story played over and over again. Sell it if you want a break, but don't toss it to a manager. My brother in law became sick a few years ago with breast cancer. He basically had things to work through but the company changed when he wasn't around. It still isn't the same and was a reason for me going on my own. I can understand as it is a life changing thing to happen to you.