On the most basic level, the success or failure of companies and businesses comes down to their employees. Taking that a step further, the decisions that a company or business makes about their employees can be directly linked to their success or failure. This makes all of the issues and matters that involve or surround employees incredibly important to a company. Taking this lightly will almost assuredly land the company in a whole lot of trouble.
What makes employee and employment decisions even more important is that fact that employment law is an inherently complex and complicated legal area. Companies and businesses that aren't prepared for the potential legal problems that can arise as a result of employment decisions are setting themselves up for many, many headaches.
"Preparation" in this regard doesn't even necessarily mean that companies need to be prepared to deal with lawsuits or reactive issues -- companies can be proactive about their employment decisions to be more effective and efficient. For example, having legal help in place so that you can deal with HR issues and establish proper HR protocols is a great way to provide for your employees while also protecting your company.
There are so many other complex issues that can arise in the world of employment law. From wage and hour disputes, to discrimination claims, to whistleblower allegations -- the list goes on and on. None of these claims should be taken lightly, as the company stands to lose a great deal when these issues pop up.