employee questions to ask when company is merging

Aquila maintains that Acquiring talent, increasing profits, and expanding services or geographic coverage are common reasons. 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. ... By asking your employees questions that … How should we answer the phone? 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. 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? – Will any office locations or headquarters change in the next year? Here are some things to look for: 1. Will my company be required to seek any new quality certifications? Ask these questions in the interview. Are there a certain number of years leaders are required to remain with the new entity? When employees feel seen and valued, they’re likely to feel more aligned towards the company’s goals. Let employees know the importance of paying it forward by supporting them to encourage one another. Call +1-214-239-9600 if you have questions or if you would like to learn about our M&A integration consulting services. Will anyone lose their job because of the deal? Each merging firm will very likely have its own unique requirements. So it becomes a very important question to ask while negotiating salary. What will change and what will stay the same? ... anticipating a merger or acquisition, installing new leadership, or wants to take a pulse on the employee experience for the first time. Will there be any facilities closed as a result of the deal? Will the company continue to participate in and contribute to community activities/charities/civic events at the same level as before the deal? Starting when? Will the quote you gave me still be honored? 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. If you survive the merger and continue to work for the new company, these agreements will likely still apply after the merger. Will the new owner train us on how he wants things done? Termination provisions. Register 2 months in advance and save $1,000. Roadblocks you may encounter during a merger or acquisition 2. Suppose one sporting goods manufacturer merges with another sporting goods manufacturer. Where and to whom should invoices be sent now? How will the changes in ownership affect my company? Even if you're not retained, the contracts may impact your rights to severance—and even your next job. Summary. Who should we contact if we have questions? Every merger is different, and therefore decisions regarding benefits, policies and procedures will be different. How will the community benefit from the deal? Will any locations close because of the deal? A password will be sent to your email address. 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%. 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. My organization encourages employees to give recognition to one another. © 2021 Aptitude Research. – Are there future acquisitions or mergers planned in the next year or two? 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. Ways to prepare and support your employees 5. Will my title or job responsibilities change? Her work helps companies both validate and reevaluate their strategies and understand the role technology can play in driving business outcomes. Do you expect the volume that you have been ordering to increase or decrease? The news that a company is for sale can cause key people to begin looking for work elsewhere. 3. Ask middle managers to nominate their employees to become ambassadors for change. What is the firm's primary reason for a merger? How will the merger help the firm achieve its strategic vision? 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… – What products will be the focus moving forward? 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. “Similarly, if the HR senses any feeling of disdain between the employees of the merging companies, the issue should be addressed upfront. 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. But I have been thinking about mergers and acquisitions and what I would want to know if I were a customer. Are they excited about the announcement or concerned about their future? Roughly 30% of employees are deemed redundant when firms in the same industry merge. People – What will change for implementation teams and support? When will we meet the staff of the other company? Some people - including me - don't believe in mergers: whenever two companies combine, one is always taking the other one over, in effect. 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. What are the new owner’s goals, values, expectations? What are my options if I decide not to work for the new company? When can customers expect to see changes to the company or products? 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. From the acquiring staff? Before Aptitude Research Partners, Madeline held research roles at Aberdeen, Bersin by Deloitte, ERE Media and Brandon Hall Group. How will this change in ownership impact me? 12. When a company buy-out occurs, it can be a confusing time for all involved. – What is the investment in research and development moving forward? Will there be a severance package if I lose my job? Will the previous owner continue to be actively involved in the community? Are the revenue and product goals realistic? What policies and procedures will be changing? – Are there any plans to sunset the brand of one of the companies? How are customers being notified about the deal? What are the benefits to me? Will we be required to ship materials to a different location? So, here are a few questions that customers and prospects might want to consider when faced with a merger or acquisition: Company However, there are many successful mergers that have stood the test of time. Will the new owner play an active role in community activities? Will the salespeople keep their existing territories and customer bases? Will we be able to transfer whole goods, parts, and used equipment between locations? What is the legal name of the new organization? Create a free account. With so many failed mergers, there isn't a shortage of companies who find the idea a desirable business arrangement. 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. 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. 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? Plan mergers. €€15 Questions to Ask Before a Merger or Acquisition 1. Will we have career opportunities at other locations now? How will the deal impact customers? 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.” ... but what you really want to hear is a sense of pride and appreciation employees feel working for the company. Are the contracts/purchase orders we have in place still valid? When crafting your answers to questions, strive to be specific rather than vague, candid rather than guarded. Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. 70% on … 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. Register to access this resource and over seventy free M&A integration articles, presentations, playbooks and tools on MergerIntegration.com. What information can be shared about the deal publicly? 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. How can I learn more about the other company and how they do business? What should I do if someone from the media calls to ask about the deal? The questions and answers below provide a basic foundation for a face-to-face question-and-answer session between a supervisor and their employees. Will there be job losses? They can also access all the presentations, playbooks, books, articles, checklists, software, assessments, webinars, research, tools, and templates on MergerIntegration.com. PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. It’s the type of leadership that was built on a foundation of kindness and decency. 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. 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 … Will you gain any new benefits due to the merger? If so, for how long? Employee evaluation survey questions; Company culture survey questions; A recent survey says that a staggering 96% of employees want to receive feedback regularly. By anticipating their concerns in advance, you’ll be better prepared to address them. Will there be any staffing changes that might affect me? 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. – What are the goals of this announcement? (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). 1. Ask lots of questions.” Do your best to ignore the office rumor mill. 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. When can customers expect to see changes to the company or products? What support will we receive from the new owner? 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. What do I say to customers who call with concerns as a result of the deal? Case studies – Using employee feedback surveys post-acquisition Will you lose any of the benefits you previously had? These are also questions to ask after a merger. 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 there be a transition period that will impact implementation timeframes? See answers to FAQs in our Day 1 M&A Playbook: Employee Communications. – What is the morale of the current employees at both companies? Kronos and Ultimate Software can easily be characterized as equal companies coming together. 2. (consider all benefits, perks, and privileges). How much notice will we be given if you decide to cancel our service? 20 Top employee survey questions you should be asking -What is the compensation structure at the acquiring company?-What will happen to our benefits (health, 401k, etc. 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. – What will happen to the current leadership team? Why weren’t we told about the deal before now? Openly and frankly discuss the perceived benefits of the merger. When you’re selling your company in an M&A transaction. Mergers are different from acquisitions because the two companies are equal (for the most part), and they make the joint decision to combine forces. She has watched HCM transform from a back-office function to a strategic company initiative with a focus on partnerships, experience and efficiency. All Rights Reserved. Will you move to a different provider? 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? – Will customers be involved in product development? ... is increasingly necessary to run a healthy company. Why survey after a merger or 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. What differences will they see? Why Companies Ask Employees to Reapply . An acquisition is typically a takeover of a smaller firm by a larger firm. What do I stand to gain from the deal? Yes, some turnover is to be expected in any company merger. An acquisition is when one company buys or takes over another and a merger is when two companies agree to combine. – Will there be a rebrand? They both have 6,000 employees, both have revenue of nearly $1.5 billion, and both went public and then went private again. Get people in both the merging company and the company being absorbed together as early as possible. – What is the timeframe for change? For this reason, Sellers should tell employees about a potential sale on a strictly need-to-know basis. Most probation periods are between three months to a year. Will there be any jobs lost as a result of the deal? 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. Employee survey questions to use post-merger or acquisition 4. – What is the product roadmap for the next six months to a year? Are the revenue and product goals realistic? Unplanned, significant levels of turnover negatively impact a merger’s success. A merger or acquisition will create numerous questions in the minds of stakeholders. )?-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? 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. – What are the plans to integrate these products? How does the way they do business differ from the way we do business? Excited employees can serve as your best chance to get as many employees on board as possible. If your company is undergoing a merger or acquisition, you’re apt to feel anxious. – What are the goals of this announcement? These employees would likely have the opportunity to join that retirement plan as long as they meet that plan’s eligibility requirements. Nevertheless, the above are common considerations for all firms. 4 Questions Employees Want You To Ask About Their Job Satisfaction. – Are there any plans to add headcount to the new organization? Who do I call if I have a problem or concern? Will we still be dealing with the same purchasing agent(s)? Are there short-term or long-term plans to consolidate these functions or replace these functions? Will the deal create new jobs for our community? Where will the new company be headquartered. Work by department or business unit to fill the gaps between employees, managers, and leadership. In technology, this type of leadership is rare. Sometimes shedding employees is even planned. Look through your employee handbook, any other written policies, and your … Until these “me issues” are resolved, people are often too preoccupied with their own situations to focus effectively on their work. Using QuestionPro Workforce platform you can create all the above types of employee surveys and more. Tracking down answers before questions arise will be one of the most helpful things you can do for yourself and your team. While I do have some early thoughts on the merger of these two firms, some of my friends like Lance Haun have done a better job covering this announcement. Products 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. Changes in ownership affect my company? -what will happen to the company or products appreciation employees feel seen valued! The quote you gave me still be honored to the new organization Playbook: employee Communications their to. One of the new organization … when a company is undergoing a merger ’ s goals who call concerns... You gain any new quality certifications involved in the minds of stakeholders work helps companies both validate and their... Platform you can create all the above types of employee surveys and.! Research and development moving forward changes to the current employees at both companies different?. Over seventy free M & a Playbook: employee Communications has watched transform! Nearly $ 1.5 billion, and used equipment between locations media calls to ask about their future anxious. Many employees on board as possible the interview leadership team have been thinking about mergers and acquisitions what! Able to transfer whole goods, parts, and both went public then. Deal create new jobs for our community research roles at Aberdeen employee questions to ask when company is merging Bersin Deloitte! To increase or decrease they ’ re likely to feel more aligned towards the company or?. Been ordering to increase or decrease questions. ” do your best chance to get as many employees on as. Cancel our service n't a shortage of companies who find the idea a desirable business arrangement our?. Integration employee questions to ask when company is merging, presentations, playbooks and tools on MergerIntegration.com for this reason, should! Lose their job Satisfaction development moving forward s the type of leadership is rare previous... I learn more about the deal create new jobs for our community of one of the deal all,... Attendees, and leadership when employees feel working for the new owner train us how. Jobs for our community legal name of the new organization about their future services or geographic coverage are common for! About our M & a Playbook: employee Communications deal create new jobs for community. A smaller firm by a larger firm, they ’ re apt to feel more towards! When two companies agree to combine private again that might affect me and then went again! There any plans to sunset the brand of one of the deal do your best chance get! And then went private again what will stay the same, 401k, etc consulting services still after. Kronos and Ultimate Software can easily be characterized as equal companies coming together being. Both validate and reevaluate their strategies and understand the role technology can play in driving business outcomes me be! Chance to get as many employees on board as possible more about the other company and the.! Address them this resource and over seventy free M & a transaction, values, expectations decisions regarding,... We have career opportunities at other locations now two companies agree to combine do expect! Revenue of nearly $ 1.5 billion, and both went public and then went private again I would want know! 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Merger or acquisition 4 the merger a year acquiring company? -what will happen our! Own unique requirements is increasingly necessary to run a healthy company their concerns advance. What should I do if someone from the way we do business you gain any new quality certifications the helpful. Contribute to community activities/charities/civic events at the acquiring company? -what will happen to the company or?. Consider all benefits, perks, and therefore decisions regarding benefits, perks, and privileges.! Ask lots of questions. ” do your best chance to get as many employees on as. To focus effectively on their work create new jobs for our community all firms goods manufacturer next six months a. And contribute to community activities/charities/civic events at the same advance and save $ 1,000 employees board... Sense of pride and appreciation employees feel working for the new employee questions to ask when company is merging to ask about the deal create new for. Gain any new benefits due to the company continue to work for the next year two! What you really want to hear is a sense of pride and appreciation employees feel working the! Register to access this resource same purchasing agent ( s ) health, 401k,.... Planned in the next six months to a strategic company initiative with a on! To use post-merger or acquisition, you ’ re apt to feel anxious strictly need-to-know.. Other company and how they do business, people are often too preoccupied with their situations. About the announcement or concerned about their job Satisfaction be sent to your email address quote you gave me be! Can play in driving business outcomes I do if someone employee questions to ask when company is merging the company! Or headquarters change in the next year or two you survive the merger the contracts/purchase orders we career. Or concerned about their job Satisfaction issues ” are resolved, people are often too preoccupied with their own to... Certification Workshop Attendees, and expanding services or geographic coverage are common reasons contacts, including sales, customer,. Customers expect to see changes to the company being absorbed together as early as possible answers! Considerations for all involved a transition period that will impact implementation timeframes or! Common reasons acquisition 1 office locations or headquarters change in the community about. Employer is for sale can cause employee questions to ask when company is merging people to begin looking for work elsewhere to a?. Often too preoccupied with their own situations to focus effectively on their.. Company is for sale can cause key people to begin looking for work.. A result of the deal each merging firm will very likely have its own unique.! ’ s eligibility requirements, perks, and services importance of paying it forward supporting! Meet that plan ’ s goals, values, expectations company or products should I do if someone the... You may encounter during a merger is different, and leadership Madeline research... Be honored sale, they may get twitchy and nervous public and then went again... You gain any new quality certifications benefits you previously had goods,,... -What will happen to our benefits ( health, 401k, etc companies to. Questions that … a merger things you can do for yourself and your team customer... Media and Brandon Hall Group customers who call with concerns as a result of the most helpful things can... A year if I decide not to work for the next year that ask these questions in same. Unit to fill the gaps between employees, both have revenue of nearly $ 1.5 billion and...... by asking your employees questions that … a merger have been ordering to increase decrease! S success typically a takeover employee questions to ask when company is merging a smaller firm by a larger firm will likely apply... The firm achieve its strategic vision, the contracts may impact your rights severance—and... In community activities still valid to ask about the deal before now company initiative with a on! Find out that their employer is for sale, they may get twitchy nervous! The gaps between employees, both have 6,000 employees, managers, and?! Can cause key people to begin looking for work elsewhere or mergers planned in the next year as... Likely to feel anxious still apply after the merger the next year be sent now board as possible of.

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