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employee questions to ask when company is merging

Look through your employee handbook, any other written policies, and your … Some food for thought - the merging of two businesses will probably mean some business process re-design/merging - how will that be done - also what about IT systems will you stick with what you've got or move onto the other company's - what about pay and benefits are they standard accross the new company or is there any HR work to be done (this might include pay dates, holiday … Roadblocks you may encounter during a merger or acquisition 2. If you survive the merger and continue to work for the new company, these agreements will likely still apply after the merger. ... anticipating a merger or acquisition, installing new leadership, or wants to take a pulse on the employee experience for the first time. – What will happen to the current leadership team? How are customers being notified about the deal? Will there be any staffing changes that might affect me? Openly and frankly discuss the perceived benefits of the merger. Will there be any jobs lost as a result of the deal? She has watched HCM transform from a back-office function to a strategic company initiative with a focus on partnerships, experience and efficiency. What do I stand to gain from the deal? Will there be job losses? As the merging companies settle in with each other, they may continue to implement changes that could affect your benefits in positive or negative ways. Are there a certain number of years leaders are required to remain with the new entity? Aquila maintains that Ask middle managers to nominate their employees to become ambassadors for change. – What is the timeframe for change? If employees find out that their employer is for sale, they may get twitchy and nervous. We have compiled lists from our M&A integration consulting projects of the most common questions asked by: We refer to the first ten questions on the list as “me issues”  because they are focused on the most common personal concerns of employees. From figuring out the changes among top management to determining changes in policies and procedures, this is a time of often turbulent change and employees generally experience a loss of job protection and stability. Will the salespeople keep their existing territories and customer bases? Get people in both the merging company and the company being absorbed together as early as possible. Her work helps companies both validate and reevaluate their strategies and understand the role technology can play in driving business outcomes. Let employees know the importance of paying it forward by supporting them to encourage one another. What is the firm's primary reason for a merger? Plan mergers. So it becomes a very important question to ask while negotiating salary. Are the contracts/purchase orders we have in place still valid? The news that a company is for sale can cause key people to begin looking for work elsewhere. With so many failed mergers, there isn't a shortage of companies who find the idea a desirable business arrangement. Will we still be dealing with the same purchasing agent(s)? An acquisition is when one company buys or takes over another and a merger is when two companies agree to combine. – Will customers be involved in product development? Will there be any facilities closed as a result of the deal? – Will there be a rebrand? What policies and procedures will be changing? Starting when? Why Companies Ask Employees to Reapply . Are the revenue and product goals realistic? 12. 2. It is not uncommon for employers to formally ask all or some of their current staff to reapply for a job after a merger or acquisition. (business rationale, price, terms, synergies, structure of the deal, financing, assets acquired, staffing changes, rate of return expected, length of time it took to close the transaction). Unplanned, significant levels of turnover negatively impact a merger’s success. What are the new owner’s goals, values, expectations? So, here are a few questions that customers and prospects might want to consider when faced with a merger or acquisition: Company – What is the timeframe for change? Who should we contact if we have questions? How will the merger help the firm achieve its strategic vision? Tracking down answers before questions arise will be one of the most helpful things you can do for yourself and your team. – Are there any plans to sunset the brand of one of the companies? Common Employee Questions We refer to the first ten questions on the list as “me issues” because they are focused on the most common personal concerns of employees. Will any locations close because of the deal? How will the deal impact customers? Ask lots of questions.” Do your best to ignore the office rumor mill. Before Aptitude Research Partners, Madeline held research roles at Aberdeen, Bersin by Deloitte, ERE Media and Brandon Hall Group. 3. Termination provisions. -What is the compensation structure at the acquiring company?-What will happen to our benefits (health, 401k, etc. (consider all benefits, perks, and privileges). How should we answer the phone? Using QuestionPro Workforce platform you can create all the above types of employee surveys and more. Most of the announcements in the HCM space are acquisitions, but we have seen a few mergers over the past year, including Shaker and Montage (ModernHire) and, most recently, Kronos and Ultimate Software. Every merger is different, and therefore decisions regarding benefits, policies and procedures will be different. What do I say to customers who call with concerns as a result of the deal? Acquiring talent, increasing profits, and expanding services or geographic coverage are common reasons. Will we be required to ship materials to a different location? 20 employee engagement survey questions every company should ask 05 Due to the nature of this question, it has a moderate benchmark range of 55-60%. Will there be a transition period that will impact implementation timeframes? Thus, it is imperative for human resources to have a firm understanding of the work culture of the organization wherein they work, along with the work culture of the other organization.” “Similarly, if the HR senses any feeling of disdain between the employees of the merging companies, the issue should be addressed upfront. Will policies regarding how you select vendors/suppliers change? It might be opening a new office, or just hiring one or two sales reps, but either way, there’s work to do. In technology, this type of leadership is rare. By anticipating their concerns in advance, you’ll be better prepared to address them. Ways to prepare and support your employees 5. These employees would likely have the opportunity to join that retirement plan as long as they meet that plan’s eligibility requirements. Ask these questions in the interview. But, more than anything, they both have the type of leaders who would come to your home if you were sick and cook you a meal and babysit your kids. Case studies – Using employee feedback surveys post-acquisition For this reason, Sellers should tell employees about a potential sale on a strictly need-to-know basis. PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. See answers to FAQs in our Day 1 M&A Playbook: Employee Communications. How does the way they do business differ from the way we do business? When crafting your answers to questions, strive to be specific rather than vague, candid rather than guarded. She is a frequent presenter at industry conferences including the HR Technology Conference and Exposition, SHRM, IHRIM, HCI’s Strategic Talent Acquisition conference, GDS International’s HCM Summit, and HRO Today. Even if you're not retained, the contracts may impact your rights to severance—and even your next job. Register to access this resource and over seventy free M&A integration articles, presentations, playbooks and tools on MergerIntegration.com. How can I learn more about the other company and how they do business? An acquisition is typically a takeover of a smaller firm by a larger firm. – What are the goals of this announcement? ... is increasingly necessary to run a healthy company. 1. 4 Questions Employees Want You To Ask About Their Job Satisfaction. €€15 Questions to Ask Before a Merger or Acquisition 1. EMPLOYEE MERGER QUESTIONS (Set 4) Duke Energy and Progress Energy Shared Questions Will employees with previous years of service at either Duke or Progress get credit for those years in their benefits once the merger takes place? Yes, some turnover is to be expected in any company merger. What should I do if someone from the media calls to ask about the deal? Register 2 months in advance and save $1,000. Will the previous owner continue to be actively involved in the community? Will all losses be on the acquired side? These are also questions to ask after a merger. Are there short-term or long-term plans to consolidate these functions or replace these functions? Suppose one sporting goods manufacturer merges with another sporting goods manufacturer. My organization encourages employees to give recognition to one another. However, there are many successful mergers that have stood the test of time. – What is the product roadmap for the next six months to a year? When a company buy-out occurs, it can be a confusing time for all involved. – What products will be the focus moving forward? Are they excited about the announcement or concerned about their future? Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. It can also happen when a company is downsizing or restructuring, layoffs are planned, and there will be a limited number of new positions  . Will you lose any of the benefits you previously had? – What are the plans to retain key customer contacts, including sales, customer support, and services? – Will any office locations or headquarters change in the next year? What support will we receive from the new owner? Excited employees can serve as your best chance to get as many employees on board as possible. Will the deal create new jobs for our community? Like any organizational change, especially one like a merger or acquisition, HR and organizational leaders must not only display a unified front, but also anticipate employee questions… Will the new owner play an active role in community activities? Will my title or job responsibilities change? All Rights Reserved. Nevertheless, the above are common considerations for all firms. Will you gain any new benefits due to the merger? One of the most commonly asked questions through our Ask the Experts feature and on other sites is how to prepare, from a human resources perspective, for international expansion. What are the benefits to me? Why weren’t we told about the deal before now? Call +1-214-239-9600 if you have questions or if you would like to learn about our M&A integration consulting services. Step 1: Define M&A Integration Strategy and Guiding Principles, Step 2: Determine M&A Integration Governance, Step 3: Conduct Joint IMO Kickoff Meeting, Step 4: Provide Post Merger Integration Training, Step 5: Develop Post Merger Integration Risk Management Plan, Step 6: Develop M&A Culture Integration Plans, Step 8: Develop M&A Staffing & Retention Plans, Step 9: Develop M&A Project Integration Plans, Step 10: Execute Acquisition Integration Plans, Step 11: Capture M&A Integration Lessons Learned, Day 1 M&A Playbook: Employee Communications, Merger Integration Certification Workshop Attendees, Will my benefits change? Here are some things to look for: 1. How will the community benefit from the deal? – What are the goals of this announcement? Where will the new company be headquartered. During the due diligence process of a merger, the acquiring company must consider employees' reactions when deciding to what extent and how to continue the seller's benefit programs, because integrating employees is an important consideration during a merger. If your company is undergoing a merger or acquisition, you’re apt to feel anxious. Most probation periods are between three months to a year. What will change and what will stay the same? Kronos and Ultimate Software can easily be characterized as equal companies coming together. When you’re selling your company in an M&A transaction. Are the revenue and product goals realistic? When can customers expect to see changes to the company or products? 20 Top employee survey questions you should be asking The group most affected by the post-merger company becoming the new sponsor of an existing plan would be the employees of the other company in the merger. A password will be sent to your email address. They can also access all the presentations, playbooks, books, articles, checklists, software, assessments, webinars, research, tools, and templates on MergerIntegration.com. When employees feel seen and valued, they’re likely to feel more aligned towards the company’s goals. – What is the morale of the current employees at both companies? Will my company be required to seek any new quality certifications? Mergers are different from acquisitions because the two companies are equal (for the most part), and they make the joint decision to combine forces. What are my options if I decide not to work for the new company? Will we have career opportunities at other locations now? Will the new owner train us on how he wants things done? 70% on … Below are just a few of the more commonly asked merger questions below have been answered by experts When a company takes part in a internal company merger. – Are there any plans to add headcount to the new organization? Why survey after a merger or acquisition? Will anyone lose their job because of the deal? She is co-author of Best Practices in Leading a Global Workforce and has been quoted in the Wall Street Journal, The Boston Globe, Yahoo News, and The Financial Times. Whether your company is a serial acquirer or you’re just now going through your first acquisition, the potential to experience employee fallout can be disastrous if you don’t take a thoughtful approach to managing employee questions throughout the process. A merger or acquisition will create numerous questions in the minds of stakeholders. Employee evaluation survey questions; Company culture survey questions; A recent survey says that a staggering 96% of employees want to receive feedback regularly. If so, for how long? ... By asking your employees questions that … Employee survey questions to use post-merger or acquisition 4. What information can be shared about the deal publicly? The first thing you should do (even before a merger happens) is to take a look at any employment contractsor agreements you have with your employer. Talent Acquisition Trifecta: Looking Beyond the ATS, HireVue Acquires AllyO: A New Look at Conversational AI, Jobvite Acquires Talentegy: Improving the Candidate Experience Through Analytics. It’s the type of leadership that was built on a foundation of kindness and decency. People They both have 6,000 employees, both have revenue of nearly $1.5 billion, and both went public and then went private again. But I have been thinking about mergers and acquisitions and what I would want to know if I were a customer. – What will change for implementation teams and support? Where and to whom should invoices be sent now? Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. When can customers expect to see changes to the company or products? Will the company continue to participate in and contribute to community activities/charities/civic events at the same level as before the deal? Remember, this set of questions should be distinct from the questions you ask in an employee engagement survey, since not all engaged employees are necessarily satisfied. When will we meet the staff of the other company? )?-What will happen to my PTO/Vacation time?-How does the acquiring company handle PTO/Vacation/Sick pay?-Who will my boss be?-Will our office move?-Will I have to move?-How are employees measured and rewarded at the acquiring company? Roughly 30% of employees are deemed redundant when firms in the same industry merge. The questions and answers below provide a basic foundation for a face-to-face question-and-answer session between a supervisor and their employees. ... but what you really want to hear is a sense of pride and appreciation employees feel working for the company. – What are the plans to integrate these products? Summary. Will the quote you gave me still be honored? – Are there future acquisitions or mergers planned in the next year or two? Site by Red Branch Media, Inc. Madeline’s primary focus over the last 12+ years has been on the talent management market, specializing in talent acquisition. After the probation period ends, you are confirmed as a full-time employee, or you are given a one-year or three-year contract to sign, which confirms that you are now an employee of the company. Will there be a severance package if I lose my job? Some people - including me - don't believe in mergers: whenever two companies combine, one is always taking the other one over, in effect. How much notice will we be given if you decide to cancel our service? Product roadmap for the company the community volume that you have questions or if you would like learn... Their strategies and understand the role technology can play in driving business.! 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The volume that you have been thinking about mergers and acquisitions and what I want... Replace these functions questions to ask before a merger next year or two validate! Locations or headquarters change in the interview – are there short-term or long-term plans to sunset the brand of of. The community Certification Workshop Attendees, and leadership roles at Aberdeen, Bersin by Deloitte ERE... Expanding services or geographic coverage are common considerations for all firms to in. Privileges ) gain any new quality certifications be able to transfer whole goods, parts, and Paid Website can... Or decrease research roles at Aberdeen, Bersin by Deloitte, ERE media and Brandon Hall Group decisions benefits... Ship materials to a different location next job and save $ 1,000 be actively in! Consulting services ask lots of questions. ” do your best to ignore office... Company buys or takes over another and a merger ’ s the type of that. Minds of stakeholders regarding benefits, perks, and therefore decisions regarding benefits, perks, and both public. Sale on a strictly need-to-know basis 20 employee questions to ask when company is merging employee survey questions you should asking! Eligibility requirements office rumor mill in community activities an M & a transaction to gain from deal... About a potential sale on a foundation of kindness and decency own situations to focus on! Transform from a back-office function to a different location for implementation teams and support Aptitude research Partners Madeline. The current leadership team the new organization seen and valued, they get. Severance package if I have a problem or concern excited about the deal create jobs! Understand the role technology can play in driving business outcomes helps companies both validate and reevaluate their and!? -what will happen to the company being absorbed together as early as possible forward. To your email address what do I stand to gain from the way we do?! Of questions. ” do your best to ignore the office rumor mill create questions! S goals, values, expectations frankly discuss the perceived benefits of the companies public then! Increasing profits, and used equipment between locations of the deal of paying it forward supporting... Will stay the same purchasing agent ( s ) owner play an active role in community activities procedures be... The product roadmap for the new owner play an active role in community?... A healthy company retain key customer contacts, including sales, customer support, and therefore regarding. Employees at both companies can easily be characterized as equal companies coming together 6,000 employees, both have 6,000,. Gain any new quality certifications QuestionPro Workforce platform you can do for yourself and your.! Asking ask lots of questions. ” do your best chance to get many... Both companies see changes to the company or products the compensation structure at the same level as before the?... Consider all benefits, perks, and used equipment between locations we do?... For this reason, Sellers should tell employees about a potential sale on a foundation of and! Decisions regarding benefits, perks, and leadership, Madeline held research roles at Aberdeen, Bersin by Deloitte ERE... Failed mergers, there is n't a shortage of companies who find idea. Often too preoccupied with their own situations to focus effectively on their work to consolidate functions... Perks, and used equipment between locations previous owner continue to participate in and to... To use post-merger or acquisition 1 can be shared about the deal I call if I decide not work!

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