We live in an age in which almost every day we learn about mergers and acquisitions of both private and public companies.
Pick up today’s Wall Street Journal and you are almost guaranteed to find out that a company has been bought, sold, or merged. When we read or hear about businesses changing hands, we tend to think about the process in an almost detached manner.
We are thankful that today’s merger or acquisition will most likely not affect us.
Until one day it does.
We learn that the company that we have poured our blood, sweat and tears into (for years) will soon change forever. The company is being sold. For most of us, this kind of news is enough to raise the hairs on the back of our neck. Unless we benefit from this change, most likely our world could soon turn upside down.
As loyal employees, we often forget that businesses exist for one main reason: to make money either for the owners or the shareholders of that business. Period.
5 Things You Must Do Immediately If Your Company Is Going Through a Merger
1. Do not panic. In many cases when a company is being sold, employees just may benefit. What if the new operation can provide more resources and more opportunities for your career? Maybe the benefit package is tremendously better than the existing one in place. It is common to react with a little trepidation when learning that your company is being sold, but panicking is not helpful without having all the facts.
2. Find out all the facts! Ask questions to everyone of your managers or anyone in a position to know what is about to take place. It is very common for rumors to spread that in many cases may be far from the truth. In addition, most sales or acquisitions of businesses fall apart. A company sale can take months to conclude so it is critical to fact find as much as possible to decipher what plan you may need to make for your own self interest. This bears repeating: most sales or mergers fall apart. This can be an excellent “wake up call” with regard to your career.
3. Prepare now to interview even if it is not necessary. Even if a company is not being sold or you have no intention of leaving your job, having a current professional resume is absolutely essential. Updating your resume periodically is extremely important. In addition, now is the time to begin networking with others in the event a job change may be imminent. Begin looking at all of the networking media and job boards available for leads. Now is the time to be pro-active in searching for new opportunities even if you may receive a severance package. One never knows how long it could take to secure new employment.
4. Be creative. Perhaps this is a time in your life that you have needed (like a kick in the pants) to explore a new venture that you have always wanted to do. All of your work and life experience just may add up to the very dream that you have always had. Now is an excellent time to seek out new adventures that just might be out of your comfort zone. Maybe a new industry, a new title, or even entrepreneurship. Maybe this is the break that you have been waiting for to launch your self into your own business. By being creative, you just might find yourself in the work that you may have always dreamed of doing.
5. Remain an asset to your present employer. This is not the time to slack off because your job could possibly be eliminated. Now is the best time ever to show your employer the very best that you have to offer. Offer value. Not only to your employer but to your fellow employees. If you are a tremendous asset to an organization, then a sale or an acquisition may not effect you at all. On the other hand, if you find yourself needing to search for a new position, your colleagues can absolutely assist you should they (themsleves) land a new career position. In many cases, new employees tend to recruit their former colleagues. Being a valuable asset to an organization especially during a transition time is vital to your immediate future.