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

Tiger Global Management Team, Cat Sith Pathfinder, The Myth Of The American Dream, Gma Thai Drama List, Kane Richardson Rcb, Bristol B&b With Parking, Malta Temperature February, Baby You're The Best I Ever Had, Bbq In Nederland, Co, Chelsea Vs Southampton Prediction, Wcu Course Catalog 2020, Bunnings Comfort Height Toilet,