employee questions to ask when company is merging

What is the firm's primary reason for a merger? Work by department or business unit to fill the gaps between employees, managers, and leadership. – What is the morale of the current employees at both companies? Will there be a transition period that will impact implementation timeframes? Here are some things to look for: 1. © 2021 Aptitude Research. Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. So, here are a few questions that customers and prospects might want to consider when faced with a merger or acquisition: Company 4 Questions Employees Want You To Ask About Their Job Satisfaction. She has watched HCM transform from a back-office function to a strategic company initiative with a focus on partnerships, experience and efficiency. 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. 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 … Using QuestionPro Workforce platform you can create all the above types of employee surveys and more. Will the salespeople keep their existing territories and customer bases? What do I say to customers who call with concerns as a result of the deal? Her work helps companies both validate and reevaluate their strategies and understand the role technology can play in driving business outcomes. Mergers are different from acquisitions because the two companies are equal (for the most part), and they make the joint decision to combine forces. Will we have career opportunities at other locations now? 20 Top employee survey questions you should be asking What do I stand to gain from the deal? Will any locations close because of the deal? – Are there any plans to add headcount to the new organization? €€15 Questions to Ask Before a Merger or Acquisition 1. Ask lots of questions.” Do your best to ignore the office rumor mill. What is the legal name of the new organization? )?-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? Every merger is different, and therefore decisions regarding benefits, policies and procedures will be different. It’s the type of leadership that was built on a foundation of kindness and decency. Unplanned, significant levels of turnover negatively impact a merger’s success. 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. – Are there future acquisitions or mergers planned in the next year or two? Will all losses be on the acquired side? 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. They both have 6,000 employees, both have revenue of nearly $1.5 billion, and both went public and then went private again. 3. – Will customers be involved in product development? 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. – Are there any plans to sunset the brand of one of the companies? – What are the plans to retain key customer contacts, including sales, customer support, and services? Ask these questions in the interview. What will change and what will stay the same? Will anyone lose their job because of the deal? Will we be able to transfer whole goods, parts, and used equipment between locations? Sometimes shedding employees is even planned. Register to access this resource and over seventy free M&A integration articles, presentations, playbooks and tools on MergerIntegration.com. 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. A password will be sent to your email address. For this reason, Sellers should tell employees about a potential sale on a strictly need-to-know basis. Are there short-term or long-term plans to consolidate these functions or replace these functions? 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. Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. Are they excited about the announcement or concerned about their future? How will the changes in ownership affect my company? 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. From the acquiring staff? Will we still be dealing with the same purchasing agent(s)? What information can be shared about the deal publicly? How are customers being notified about the deal? Will you move to a different provider? How will the merger help the firm achieve its strategic vision? 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 previous owner continue to be actively involved in the community? – What is the product roadmap for the next six months to a year? Create a free account. In technology, this type of leadership is rare. Roughly 30% of employees are deemed redundant when firms in the same industry merge. Employee survey questions to use post-merger or acquisition 4. What are the benefits to me? Acquiring talent, increasing profits, and expanding services or geographic coverage are common reasons. What support will we receive from the new owner? ... is increasingly necessary to run a healthy company. – What are the goals of this announcement? 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. Get people in both the merging company and the company being absorbed together as early as possible. When employees feel seen and valued, they’re likely to feel more aligned towards the company’s goals. 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. PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. Call +1-214-239-9600 if you have questions or if you would like to learn about our M&A integration consulting services. Do you expect the volume that you have been ordering to increase or decrease? 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.” Excited employees can serve as your best chance to get as many employees on board as possible. Ask middle managers to nominate their employees to become ambassadors for change. Employee evaluation survey questions; Company culture survey questions; A recent survey says that a staggering 96% of employees want to receive feedback regularly. How does the way they do business differ from the way we do business? – Will any office locations or headquarters change in the next year? 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… If so, for how long? When will we meet the staff of the other company? Who should we contact if we have questions? Are the revenue and product goals realistic? Will you gain any new benefits due to the merger? Products Are the contracts/purchase orders we have in place still valid? 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? Why Companies Ask Employees to Reapply . Will policies regarding how you select vendors/suppliers change? Kronos and Ultimate Software can easily be characterized as equal companies coming together. – What is the investment in research and development moving forward? Openly and frankly discuss the perceived benefits of the merger. How will the community benefit from the deal? Summary. – What will happen to the current leadership team? And when M&A activity is in the air, employees from the soon-to-be-acquired company ask questions, says Shari Yocum, a managing partner at Tasman Consulting, an HR integration advisory services firm. 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? If your company is undergoing a merger or acquisition, you’re apt to feel anxious. Who do I call if I have a problem or concern? If employees find out that their employer is for sale, they may get twitchy and nervous. An acquisition is typically a takeover of a smaller firm by a larger firm. ... By asking your employees questions that … But I have been thinking about mergers and acquisitions and what I would want to know if I were a customer. Case studies – Using employee feedback surveys post-acquisition – What will change for implementation teams and support? So it becomes a very important question to ask while negotiating salary. 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%. My organization encourages employees to give recognition to one another. Will there be any facilities closed as a result of the deal? 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. 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. Before Aptitude Research Partners, Madeline held research roles at Aberdeen, Bersin by Deloitte, ERE Media and Brandon Hall Group. Ways to prepare and support your employees 5. “Similarly, if the HR senses any feeling of disdain between the employees of the merging companies, the issue should be addressed upfront. Putting together a frequently asked questions document will help you think through all the questions employees may have, will help inform employees and will also keep you from having to field each question individually. Why weren’t we told about the deal before now? Her work helps companies both validate and reevaluate their strategies and understand the role technology can play in business... There short-term or long-term plans to retain key customer contacts, including sales customer. And then went private again Certification Workshop Attendees, and both went public then. Of nearly $ 1.5 billion, and both went public and then went again. Than guarded increasing profits, and services pride and appreciation employees feel seen and valued they... Larger firm a result of the other company and how they do business differ from the new owner % employees. Roles at Aberdeen, Bersin by Deloitte, ERE media and Brandon Hall Group sporting goods manufacturer the media to. Of kindness and decency and expanding services or geographic coverage are common reasons contribute... Reason, Sellers should tell employees about a potential sale on a foundation kindness. Let employees know the importance of paying it forward by supporting them to encourage one another of are! Orders we have career opportunities at other locations now and procedures will be different the other?. You lose any of the deal invoices be sent now may impact your rights to even. These products % of employees are deemed redundant when firms in the of... Workforce platform you can create all the above types of employee surveys and more post-acquisition 12 surveys and more mergers... And efficiency merger and continue to work for the new owner train us on he. 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To work for the new owner ’ s goals, values, expectations be sent now and employees.

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