5 tips for proposal professionals going through mergers and acquisitions
Tuesday, June 12, 2018
Every year, mergers and acquisitions impact the positions of many proposal industry members. For example, this year, General Dynamics acquired CSRA, a $4.3 billion company.
Like many proposal professionals, I have gone through several acquisitions and mergers. In one five-year period, I worked for three companies that were acquired by larger companies.
If you find your company is being acquired or merging with another company, here are five tips to consider:
1. Get the facts
Learn why your firm was merged or acquired. Learn who is in authority and their roles and responsibilities. Identify the objectives of the new company and determine if there is a timetable for organizational and policy changes.
Determine if they plan to consolidate operations or move the business to a new location. You may not get all the facts at once; new leadership frequently takes a few weeks or months to implement their changes.
2. Determine how your position fits into the new organization
Determine if your position has a place in the new organization or if you are a candidate for a layoff or a promotion.
If the new leadership has not made any decisions yet, tell them how you can contribute to the organization and how your knowledge can benefit the consolidated operations.
3. Determine how you can contribute to the new organization
Identify the skills and expertise you have that can support the transition and help accomplish the company’s short- and long-term objectives. If you have gaps in your skills or expertise, determine how you can fill them and keep your skills relevant and updated.
4. Determine if the new organization can support your career objectives
Work with your supervisor and human resources department to identify your career options.
Will the new company support your career advancement? Will they support your training and professional certification? Is there a mentor available in the new company to support your professional growth?
5. Determine if the new organization can provide competitive compensation
Does the company have the resources to provide a competitive compensation package? Will the terms of your employment change?
Will the new company’s employment terms impact your work-life balance? Will the location of your office change?
In my experience, it is hard to determine how a merger or acquisition might affect you. But don’t react too quickly, get the facts and make an informed decision before you decide what is right for you.
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