Over recent weeks, I have been speaking with people who have, unfortunately, been the casualties of a takeover of the business they work in.
It is fairly common for the acquiring company to say, ‘nothing will change’. That is rarely the case.
Sometimes it takes a while, sometimes it is very quick. Sooner or later the acquiring company, which is often a larger company, will start dictating how it wants the company it has acquired to operate. They want the acquired company to align with their way of doing things. It isn’t unusual to start seeing people leave the business. Often long-term people.
What once may have been a happy place to work suddenly is quite the opposite.
The irony is the acquired company has generally been performing well to attract the acquiring company to buy it.
It’s the old saying, ‘if it ain’t broke, don’t fix it’. Sometimes us humans seem to like to change things for the sake of it. If there are things that aren’t working, they must be addressed. Engaging the Employees in the process is always helpful. Those who see it isn’t for them will leave of their own accord. That is always a more positive outcome for all involved.
When a business culls and cuts with no clear reason, generally because it hasn’t been communicated well if at all, the consequences can be long lasting. It will take a lot of work and time to turn around the impact, if ever. And that costs.
This situation can also arise when a small business is purchased. It not only may impact the Employees but also customers.At the end of the day, a question for all involved to ask themselves is, ‘is this the right thing for the business?’ Maybe it is, maybe it isn’t. Another question to ask, ‘have we delivered this process/change with respect, dignity and transparency?’