Surviving a Merger or Acquisition
If you hear your employer is likely to be merging with or being acquired by another business, it can be a scary time. These top tips will help you prepare for the situation and support you in surviving a merger or acquisition.
PREPARE FOR THE WORST OUTCOME
Start off by being brutally honest with yourself about what the worst outcome might be for you and the impact it could have. This is probably redundancy, so work out a likely redundancy package (check your company HR handbook for details of what they are likely to offer) and look at how long you can survive on that before getting another job.
CONSIDER THE BEST OUTCOME
A merger or acquisition might throw up great opportunities for you. Start planning what roles you might be interested in and develop plans, so you are ready if you are approached.
WHAT MAKES YOU SPECIAL
In these situations, there are often two similar departments where only one is needed. Consider what makes you special, and why the business needs you. What business experience and knowledge do you have that they will want to keep?
TALK TO MANAGEMENT
Don’t feel like you can’t speak to people about impending changes. If there are roles you might be interested in, be proactive and talk to the appropriate people.
DO YOUR RESEARCH
Look at the businesses involved in the merger/acquisition and find out as much as you can about them. You are more likely to be considered for future roles if you show you understand both sides of the newly merged business.
Now is the time to start developing new relationships in the business, if you have interests in other areas, or just want to stand out from the crowd.
BE AN ADVOCATE FOR CHANGE
Many employees fear change, so use this as an opportunity to show you can embrace it. Think about the positives of the merger/acquisition and whether you could enhance these.
Don’t disappear into your ‘bunker’. Even if you are working hard in there, you need to do some self-promotion, so people know what you are doing and how valuable you are to the business.
If you can continue to show energy and enthusiasm in the idle of the upheaval, this will show people your positive attitude, and mark you out as a valuable team member.