- Plan for the worst. Reduce spending by 30-50%. Only buy necessities. Contribute as much as possible to a savings account.
- Always be on. Be prepared to explain in 30 seconds or less why you are an asset to the company in terms of numbers, i.e. I can save the company 20% in annual operating costs, etc.
- Resume. Update your resume and keep a copy at your cubicle and on your personal hard drive.
- Skills. Make a list of all your certifications and training and keep a copy at your cubicle and put a copy in your work personnel folder.
- Documentation. Update all your work documentation with the latest information: password lists, configurations, policies and procedures, technical documentation, user guides, etc.
- Map. Create an individual work plan that lists your career goals for the next 3-5 years. Mention this during the transition and with the new merger staff.
- Emotions. Keep your emotions intact. Don’t make any decisions based on emotions. Plan all decisions out carefully.
- Employment. Be proactive. Contact head hunters and inform them your company might be experiencing a layoff and send them your resume. If you are laid off you will have a head start on everyone else.
- Files. Delete any personal files and emails from your work computer. Copy them to an external hard drive. Also copy your employers human resource policies and procedures and other important work documents. When interviewing you may need to bring a sample of work documents you created.
Saturday, July 25, 2015
How to Shield Yourself From a Company Merger
Companies merge all the time. The most recent approved company merger was AT&T and Direct TV. The insurance company Cigna will be merged with the Anthem Company.
The advantages of a company merger can include: financial leverage by freeing up cash and credit, increased market share, lower of production and operation, greater competitiveness, increase in stock value, acquired research and development information and patents, support from the other company through advice and name recognition, additional equipment and improved profitability.
The disadvantages of a company merger can include: termination of employees, elimination of equipment, process time – mergers can last for year, legal expenses, merger costs, intangible costs, consumer and shareholder drawbacks, tax laws, short-term opportunity costs, potential devaluation of equity, diminished corporate performance and/or services, potentially reduced industry innovation, suppression of competing businesses, and decline in equity pricing and value.
Wait until the merger has been finalized to get all the facts. Employees will have to wait until the merger plays out to see if employees and customers truly benefit as both companies have promised. Here are 9 strategic ways to shield yourself from a company merger.