A merger or acquisition can be an exciting time for a business and can provide benefits to both the buyer and the seller. However, it can also pose some serious concerns to employees of either company. In order to keep peace in the workplace during this time, make sure to prepare to answer important questions from your employees, like the following.
Common Employee Questions About a Merger
- Will my position be eliminated?
- If I lose my job, will there be a severance package?
- Will my compensation or benefits change?
- Who will I report to?
- Will my responsibilities change?
- Will I need to relocate?
- What is the reason for the merger?
- What will the new organizational structure look like?
- What will the new company culture be like?
- What effect will this have on our customers?
A Merger is a Challenging Time for Employees
Communication is key when it comes to preparing employees for a merger or acquisition. The more informed they are, the more at ease they will be. And while some answers will be straightforward, others will require more thought. Additionally, it’s important to be empathetic and try to remember what they are going through. Job insecurity can be extremely stressful, which can affect work performance. So the more you can do to ease their fears, the smoother the transition will go. Above all, it is important to answer questions as honestly as possible, and as quickly as possible, in order to avoid negative rumors from spreading and affecting company morale.
The best way to ensure you provide employees with accurate information is to be prepared yourself. An experienced attorney will play an important role throughout the merger or acquisition. At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, our mergers and acquisitions attorneys represent our clients as skilled advisers, mediators and negotiators throughout the process. This type of transaction can be very complex, and we are dedicated to providing strategic legal guidance through the closing. Contact us at 847-223-1500 to learn more or to schedule a consultation.