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After a business merger, there can often be a surplus of employees between the two merged companies. While in a perfect world everyone could keep their jobs, this is often impossible after a business merger. The business merger may have created duplicate jobs. The following tips will allow you to understand the best practices for letting go of staff after a business merger.
Analyze What You Have
Try putting your employees into three categories: ones that are great at their jobs, ones that have perhaps tried their best but are not up to par, and the deadweight. Get rid of the deadweight first. They should be the easiest to let go because they are not an asset to your company and you could be putting your money towards something more valuable.
Make Necessary Changes
If your company still needs some cleaning out after that, you will need to dip into the second category. These people may have worked for the company for a number of years and are just not performing as well as others, through no fault of their own. Explain to these employees that they are no longer the right fit in the company.
Consider offering them resume services or writing a recommendation letter so that they do not feel completely cut off and resentful about the business merger.
Letting go of employees after a business merger is never a pleasant process, but it is often an unavoidable part of the M&A process. Be as gentle as possible and allow HR to handle most of the firing process, as they are trained in this area. Giving the let go employees services to find a new job will allow them to leave on a positive note. If you need assistance during a merger or acquisition, do not hesitate to contact the region's premier business brokerage firm, George & Company.