Business is good for many companies today and venture capital has hit record highs this year. The number of new facilities opening and the growth of existing operations has certainly led to more mergers and acquisitions.
This is a common occurrence. And in my experience, it has become more common as of late. I see more senior leaders who are focusing on integration and corporate structures, with many employees concerned about redundancy eliminating their job. A large percentage of candidates in my network have come to market after an acquisition. Others have found themselves on the market with even just whispers of a sale.
No one can say that their fears are not justified. Many of these positions will end up nonexistent anyway. So wouldn’t you rather take the opportunity in front of you, with an outlined structure, then wonder what today or a few tomorrows’ from now might bring?
As a company, I think that an emphasis on contributing and key positions approached with solid communication has a certain value on retention. Hearing you’re the only person who can perform your job regionally in either company from your boss has a definite calmness implied.
Continuing to recruit on important positions is essential; during a merger or acquisition, it’s nearly impossible to tell whose foot is halfway out the door. With the challenges and timelines surrounding today’s labor market, the fear of adding some red ink during a business deal could result in trying to fill two critical positions rather than one.
Find yourself in the middle of a merger or acquisition?
If you’re inclined to leave, the market is favorable for skilled employees. In fact, a transfer is actually likely to improve your own bottom line. Companies are adding more details to sign on and retention packages these days.
Certain you’re staying? Save yourself a potential headache down the road. You aren’t planning to stop working until the deal is done. Holding on hiring could be in essence resulting in the same outcome. With a vacant position, there is work not being done. Delaying that in the middle of a high turnover period could result in massive cost and production impact. And that’s not even incorporating the additional strain to the understaffed department.
After all, we’re just talking about communicating with the employees you hope to keep and continue to interview for open positions. If you are still swamped with your workload, new training, and interested in a hire, it may be time to partner with a recruiter who is solely focused on filling your positions.