Sales & Acquisitions: How To Thrive And Survive

If your company owner ever makes this announcement, it is very likely that you will experience a wide range of emotions that may include worry, betrayal and anxiety. On the other hand you may feel joy, excitement and relief. This all really depends on the past operating status of your company and the new owner(s) and management team of the new company. It could be that you have felt frustrated for some time because your company has been falling further behind your competition due to the owner letting things slide and not keeping up with the latest technology. You may have had to use old equipment, had to drive run-down trucks and had to make do with whatever materials you had available to work with. On the other hand, you may feel that your company has been on the cutting edge of our industry. You have always been supplied with the best training and equipment available and your company has always been a service leader in the market where you operate. As the initial shock begins to fade, you may also suddenly realize that your current and future position in the company, your personal financial situation and how you have conducted your day-to-day routine for years may all be impacted by changes that may be made with this new company ownership.

DON’T PANIC. One of the first things that you need to remember is that an investor wouldn’t have purchased a company if he or she didn’t believe that there was value in the investment. When it boils down to it, his or her investment in your company is largely based on four factors. These factors include: the market potential where your company is operating, the customer base that your company has, the personnel resources that are available within your company and future potential return on their investment through profits that the company will generate. You also need to keep in mind that there are no pest control companies out there that can run without a work force. On the positive side, an acquisition may open a window of opportunity for employees who are willing to "step up to the plate," efficiently complete the duties required by their current position and are willing to take on additional
responsibilities.

It is also normal to experience a sense of concern, worry or anxiety about the future. It is very likely that there will be some changes depending on how your company conducted business in the past; however, this can vary widely depending on who purchased your company. In some situations, there may be very little noticeable changes. If changes do initially occur then they will very likely be in the form of reporting production, sales and accounting information. Later there may be an introduction of new or different products and service programs other than those that you have traditionally offered. Keep in mind that it is necessary for the new owners to be able to track the activities of your company. In addition, if they have other locations, they have to have all of the information reported similarly to their other operations. There may also be additional changes in company policies, benefits and pay. It seems that it’s almost human nature to dislike change because we may be familiar and "comfortable" with the way things have always been. It is possible that any changes that may be made will be positive.

With an acquisition having recently taken place, there are definitely some things that you should and shouldn’t do that will influence your future career direction with the new company.

The DOs. You need to keep in mind that if there are any changes that take place, you are going to have to be willing to be flexible and give things a chance to work. The new owners want to see your operation (their new investment) be successful. If your company continues to be successful then the new owners will experience a positive return on their investment and this should create additional opportunities for the employees. You really need to be open-minded and be willing to try to closely follow any new procedures or policies that may come up. Chances are that you have been a dedicated employee for your old company and you should strive to be one for the new company. All efforts that you can put forth towards being a "new team player" should be considered an investment in your future. You should also stay focused on your job and in completing all of the required tasks to the best of your ability. If you haven’t been working as hard as you should be, this is definitely a time that you need to buckle down. You really need to be positive in both your actions and discussions with other employees. When given the opportunity to interject feedback and discussions with the new management team, take advantage of the opportunity to honestly provide any assistance that you can to help with a smooth transition period. If there are new ideas or procedures put into place give things a try. There will very likely be some rough spots to iron out but the transition may go a lot smoother than you imagined.

The DON’Ts. One of the worst mistakes you can make is to "bolt from the company" or quit your job shortly after a merger or acquisition has taken place. As stated earlier, there may be a wide variety of new opportunities available for you and other employees. Larger companies need people in all levels of service and management and panies to promote employees from within their organization as opposed to bringing in a new employee to fill a role of higher responsibility. If your new owner(s) or management team asks your opinion on anything you need to speak honestly. You should avoid being negative and avoid trying to tell the new management what you think they want to hear. Most senior managers don’t appreciate whiners or "brown nosers" but do appreciate employees who are trying to help in leading the company in a positive direction. You don’t need to dwell on the past other than as a point of reference of dealing with solutions for challenges you may be facing at the present or in the future. You need to avoid negative "water fountain talk" and stay focused on your business. Don’t try to keep up with everyone else’s business. Don’t slack off or start to spread rumors. There will be little — if any — positive benefits from participating in this type of behavior.

THE WHAT IFs. If you’ve been patient, sincerely tried to work closely with the new management team and felt that things just aren’t working out for you then it’s time to evaluate your options. Ask the following questions: Is there another position within the company that you may be interested in? Are there some minor changes that could take place that would make you take on a different view of your employment situation? Have you discussed this with the appropriate senior management person? If you have explored all of your options, and are not able to work out a satisfactory solution, then you should carefully decide your next step. It may be that you accept the situation that has been causing you concern and get on with your job. It may also come to a point that you feel that you need to look for another job. If you do decide to leave your company, the last thing you should do is to "burn your bridges" — i.e., you want to leave on the best possible terms. You never know if someday you’ll need a reference or change your mind and then want to come back to work for this company. Make sure that if you do decide to leave, you do so on good terms. This is truly a great industry and there are many employment opportunities with excellent companies throughout the country.

CONCLUSION. There is no doubt that an announcement that your company has just been sold will in some way affect your career path. It is also very likely that you will be faced with both positive and negative situations once this has occurred. If you are going to thrive and survive following a company acquisition or merger then you need to focus on "the do’s" to the best of your ability and avoid "the don’ts." It is very possible that if you give this change in your company a chance to work you may find your continued employment rewarding — both financially and personally.