Jeff Altman, Big Game Hunter
The acquisition has been announced. Billions of dollars are spent on acquiring companies, and everyone can’t believe that their successful startup will now be part of the acquirer. Synergy is obvious. They are guaranteed that nothing will change and that the acquisition will run independently of the purchaser. Everyone in the Kingdom is rejoicing in their good fortune.
Now, time has passed, and despite some obvious synergy implemented, there are some complaints throughout the field. One was promoted to a higher-level role, and he seemed to have won the role by selling a deal that had nothing to do with them, but they introduced it to the acquirer. No one knows how to do a promotion. Training has been reduced. Of course, some of the acquirers’ sales teams have been trained to sell the startup’s services, but not the other way around.
This is a fairly common story in the acquisition world. Staff of the acquired company were told that no changes would occur, but the convenient omission of how long it would be kept. The truth is that the excess will be eliminated, while the processes and assets will be eliminated. After all, “synergy” is just an active rotation of the term “economic economy of scale”.
Upward ladder
As an employee of an acquired company, what should you do?
1. Find the exact source of information. Your manager may be removed from the information pipeline to such an extent that it is useless to you. Whenever you are told something is a fact of conflict, make sure you ask, “How do you know”. If you cannot identify useful sources of information, then…
2. Be aware of changes in the impact on you, departments and organizations. Companies rarely complete acquisitions and allow their new divisions to operate independently forever. Ultimately, changes occur in the form of new policies and procedures that take away benefits, change bonuses and/or commissions, make them more aligned with buyers (usually lower) and help them make up for their investments by saving and increasing profits from sales growth.
3. Assume your job may be at risk. You might think your work is important, but my experience shows that you may be a non-entity of the buyer. Few employees are nothing more than the buyer’s employee ID number. They think your salary is potentially saving money and your job is easily transferred to an existing employee or two. After all, if a software company buys another software, how much do you think they need to sell the products they buy? The answer is zero. Existing teams can receive training on products. How many supporters are there? How many people from the Human Resources Department? You get it.
4. Start reconnecting with your network. You don’t have to start looking for a job right away. After all, why not wait for the first wave of terrible colleagues to leave voluntarily and wait to receive a offer for the acquisition package?
5. Keep your head (inevitably) when a force struggle occurs. Senior leaders may participate in the Octagon MMA-style death contest as winners only. The connection to one side or the other can cost too much. Just as New England Patriots players are always reminded: “Do your job.” Participation is a distraction that can prove expensive.
6. If you manage or lead employees, stay updated. If you don’t know the truth, don’t lie to them and tell them that their job is safe. Let them know what you know. Let them know how you explain what you know and how it affects them. Love them enough to tell them the truth.
7. Take the initiative to protect capital. The truth is that despite doing whatever you imagine yourself, you may lose your job. Job search takes time and you may need to have financial staying power to search for your job. Proactively saving costs and revenue enhancements (perhaps doing business) will help you buy more time to find better situations. You are not your employer, you are responsible for your career and Your financial situation.
Think of yourself as the chairman of the board of directors of a company entity sitting on the same board with your husband/wife/partner or your child. Just as your employer will do what they think is right for them, you need to do the same when pushing for push. Do not waive your responsibility to other board members by trusting your employer. Not that they are not trustworthy. You just don’t have the whole picture or plan. Being prepared is better than being shocked.
ⓒMajor Game Hunter Company, Asheville, North Carolina, 2018, 2025
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About Jeff Altman, Big Game Hunter
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