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This study aims to shed light on the phenomenon of intellectual capital (IC) risks. More precisely, the perception of such risks in the context of the job rotation process often applied in multinational corporations (MNCs) is to be investigated.

Eleven semi‐structured interviews are conducted in an exemplary knowledge‐intensive MNC operating in the construction industry. Six interviews among top managers and five interviews among participants in the job rotation process are carried out to gain insights from different perspectives.

The study underlines the influence of time pressure on the perception of the variety of IC‐related risks in general and of those related to the job rotation process. As a result, the risks are not tackled even though the managers are aware of some of them.

The data were collected in one organization, making inferences about the findings not possible. Future studies should consider multiple organizations.

A list of potential IC risks triggered during the job rotation process is presented and suggestions to tackle them are discussed. Furthermore, the findings can contribute to the further development of an overall overview of IC risks.

The study provides fresh insights into the relationship between IC risks and job rotation as perceived by different organization members.