Don’t forget your employees when merging your business

On Behalf of | Jan 13, 2022 | Business Law |

When merging with another company, you will not need to retain all the staff the current two companies have. No one likes job uncertainty, so the more you can provide your team with accurate information, the better for them and you.

Some employees will sit around with their fingers crossed, hoping you will not dismiss them. Others will be more proactive and start looking for another job rather than risk a  period of unemployment. Those may be the very people you want to keep.

Gossip benefits no-one

There are few secrets in this day and age, and once the first whispers of a merger appear, the office rumor mill will kick into action. If you want to ensure people have accurate information, you need to communicate. You may not know everything yet, so you need to work out the best way to present what you do know while allaying fears over the things you don’t.

Do not let valued employees slip through your fingers

Once you identify who you want to keep, consider what you need to do to keep them. While these vital employees might be happy at present, that does not mean they will be pleased with the prospect of the merger. 

Two companies will never be identical, and you need to work out how the differences in the two companies’ values and ways of doing things will reflect in the new business path.

A merger will entail lots of legal work to change or update contracts, handle terminations and so on. Having help as you go about the process will be crucial to ensuring your merger has every chance of success.