Good employees are the backbone of a business, but business owners know a productive, thriving workforce doesn't just happen on its own. The posts, podcasts and videos listed below focus on issues such as attracting the right candidates so you can hire the best people, leading your employees through change and preparing them for a transition. With proper planning and strategy, you can empower your employees to thrive, even in the midst of change.
This post from Forbes takes the opposite perspective of the seller and looks at what employees often do when the new owner takes over. Whether you're staying on to help for the transition period or not, this insight will help you be prepared for what comes next and inform decisions on how to prepare your employees for a new owner.
When a company changes hands, it can create upheaval among the employees. By taking action prior to the transition, you can empower your employees to successfully ride out the changes. This post from Inc.com goes into five different ways you can prepare the people in your company for big changes.
This video from Pacific M&A and Business Brokers Ltd. points out the importance of choosing a wise buyer in light of assuaging your employees' fears when they learn the business is transitioning. It also considers the effects of informing your employees early vs. after the sale and what you can do to minimize any damaging effects on your employees, the business and the new owner.
This three-minute video from iQuestions.com addresses the five stages employees go through during a transition, how their process differs based on personality and role in the organization, and how to respond to these different responses to make a transition smoother and more successful.
Selling a business can be a very up and down process, which makes deciding how, what and when to tell your employees complicated. There's no reason to make them part of all the ups and downs, plus telling them about a potential sale too early can derail the sale and hurt your options. Telling them too late can foster a sense of betrayal. Inc.com delves into the question of whom to tell, what to tell them and when the best time is to do so.
Speak with an expert about transitioning your business.