Challenge: Our client had two owners. Owner One sold their ownership percentage to Owner Two. As a result, Owner Two also gained full ownership of a division of our client’s company with approximately 30 employees. Owner Two planned to absorb the company fully into their operations.
Our client’s Human Resources (HR) department lacked the bandwidth to handle this volume of work and retained us to help with employee communications, managing the divestiture of the 30 employees, and the integration of our client’s company into Owner Two’s operations and systems.
Solution Deployed: We worked with Owner One’s HR team to establish a communication plan for the transfer of the group of employees that coincided with the announcement of the change in ownership. Owner One wanted the transition to be as seamless as possible, so we developed recommendations for how compensation and benefits should be handled for the group of employees. We then partnered to create a personalized communications packet for each affected employee and represented our client on the day the ownership change was announced to answer any questions the transitioning employees had.
We also partnered with Owner Two’s HR and communications departments to develop and coordinate a global logistics and communication plan for the change in ownership announcement. We established a specific mailbox to handle employee questions and had an online Q&A that we updated weekly. We worked with our client’s management team to identify key employees, and then developed and implemented a retention plan for each of them.
We integrated payroll, HR systems, and benefits fully in just over three months and then helped our client manage a little downsizing when business operations were integrated into Owner Two’s operations five months after the change in ownership occurred.
Business Value Delivered: Business operations were seamless, and the ownership change was transparent to customers. The quick integration of payroll and HR systems saved tens of thousands of dollars in payroll processing and HRIS costs. Affected employees were so pleased with how the transition was handled that productivity did not decline, and voluntary turnover decreased for the first 24 months after the integration with Owner Two’s operations.
Client Industry: Financial Services
Project Type: Change Management, Strategic Communication, M&A, Integration, Benefits
Business Structure: For-Profit, Privately Held