In addition to worrying about all the administrative tasks that come along with taking on a new company, it’s also important to spend a great deal of time on the communication aspect for the new employees. As humans, we all tend to deal with the known more easily than the unknown. This couldn’t be more true when it comes to mergers and acquisitions. The staff you are acquiring will have a great amount of questions and need information to make them feel secure. Mergers and acquisitions touch many different departments within a company and a Project Manager is needed to ensure everyone is on the same page, tasks are getting completed and the newly acquired and existing staff understands how it affects them.
There are pages upon pages of tasks that need to be completed but to name a few… our Project Managers start with a structured meeting with your key stakeholders to discuss the merger or acquisition and develop a project plan. Inevitably, new things come to light as we move through the process, that’s okay – we can update our project plan throughout to make sure all tasks are completed on time. Our project matrix will be constantly updated, and regular meetings will be held.
While we focus on completing the administrative tasks that must be done, we also never forget to communicate with your staff, both existing and newly acquired, at the level where you are comfortable. After the initial announcement is made, we will be ready to roll out our New Staff presentation which covers all items pertinent to the new staff such as payroll, benefits, Acquiring Company's High Level staff intro/summary and technical access items.
All I-9s from acquired company will be audited and remediated timely, processes will be put into place to ensure compliant I-9s going forward. Also, new staff will be provided a New Hire packet and a Frequently Asked Questions sheet that we create. Staff will undoubtedly have questions regarding benefits, even after the presentation. We can handle those questions for you and make sure all staff complete the required paperwork. We are also happy to review the company handbook with new staff, we can review the staff’s old handbook to make sure we point out benefits or rules that may be different to them.
Behind the scenes we will be working to assimilate data for your internal departments in the format they need. Many times, you will be given data in several different formats and combining can be time consuming, no worries, we’ve got that! We will also pull the data you need for your payroll, HRIS/HRM and benefits administrators.
We will of course review your newly acquired employee files, make sure I-9s are audited and that files are moved to the storage location of your choice.
There is much, much more to this type of project, if you have a merger or acquisition in the future please reach out to see how we can help.
I'm Lindsey Crabtree, the Founder and CEO of Right Hand Operations. I love meeting new people and making connections, I love observing the commonalities between our clients and how we all have similar struggles in the business world. As I have time I enjoy reflecting on experiences and sharing what I've learned.