When is the best time to notify your staff?
A business sale does not only revolve around you, but above all around your employees. Informing your staff about the sale in the right way and at the right time is therefore of great importance. Because how do you do this effectively, so that everyone has a good feeling about the sale? I would be happy to give you some pointers.
If a works council is part of your organisational structure, you must comply with a legal framework. You have to go through certain procedures and processes, such as around the time the letter of intent, the preliminary purchase agreement, is signed. The works council is obliged to look into the matter and issue an advice. Informing the personnel about the takeover is then unavoidable.
Depending on company
The signing of the letter of intent is not the moment to announce the big news for all companies. This depends on the company culture. Do you manage the company top-down or is it a flat organisation? Do you have a service company or a production company? And what kind of employees do you have? Highly educated or lowly educated? The answers to these questions will give you a better idea of the moment at which you will inform your personnel about the acquisition.
Where you are managing the sales process, you will most likely have support from departments. For example, I often see companies set up a project team to manage the process. Also consider the staff that handles the finances or is involved in setting the business strategy. Therefore, take into account that some employees will need to be informed sooner as a result.
Florijnz tells you when it is best to inform your staff about the acquisition. We also assist you in this and help with the proper formulation of the news. So your staff will have a good feeling about the company sale.