employee questions to ask when company is merging

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