Acquisition Transition
mburch
19 Posts
Our firm of 200 is on the verge of acquiring a 65 person firm in a few days. The staff at the new firm will not know about the acquisition until several days after the fact. I, being the HR Director, will be with the President when he informs the new staff of the sale and that they know work for a new firm. This is my first acquisition where the new firm knew nothing of the deal. Has anyone been involved in a similar situation and can you give me some pointers to help in the transistion / morale process?
Thanks for your help.
Thanks for your help.
Comments
a meeting was called, and representatives of the buying company walked in and told us. First mistake, the buyers said nobody's job was safe. Second mistake they made, the buyers said that we all had to start commuting to an office over 30 miles away - you could have heard a pin drop.Third mistake, we all had to fill out job application forms as brand new hires. Fourth mistake, all our accrued vaction with the old company was forfeited .We were stunned. After the meeting, morale was shot. People started looking for jobs. People quit.I ended up doing the long, long commute - but got out the very first chance I got. the buying company ended up in Chapter 11 bankruptcy.
Good Luck!
Be sure to also explain WHY the merger ocurred, and hopefully the benefits that will result. It is hard for employees to accept if they don't know why the change took place.
Answer questions like:
What happens to my seniority?
Are benefits going to remain the same, if so, how long? if not, what are the benefits offered with the new ownership?
Have employee handbooks or policy manuals available?
Have company information available (contacts, history, mission statement, goals, values, etc.).
Be prepared to say "we must research the previous employers intent/policy before we can advise". Be cautious of using the phrase "I/We don't know", it will undermine their faith in you as their HR rep.
Get a feel from senior management where they may be willing to make some concessions or "grandfather".
If available, review their current handbook, policies, benefits so you can talk to any differences and highlight advantages.
Good luck