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

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