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Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.

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  4.  | Avoid losing valued staff after a merger or acquisition

Avoid losing valued staff after a merger or acquisition

| Aug 7, 2015 | Mergers & Acquisitions

Business mergers are a common corporate strategy for many New York companies. Merging the interests and goals of separate companies may provide opportunities for further growth and success. However, the process is often difficult for employees, many of whom have been accustomed to their company’s culture and procedures for years. The attorneys at Cox Padmore Skolnik & Shakarchy LLP are familiar with each aspect of the mergers and acquisitions processes, including those that are positive and the ones that present more of a challenge.

If a business merger is in your future, how can you prevent your company from losing valuable employees? It is more common than not for key executives to leave during the weeks and months after a merger, states the Harvard Business Review. This may present a newly merged company with setbacks during a crucial time of restructure and development when talented, experienced managers are needed.

What are the most common reasons your managers and other valued staff might leave after a merger? They may include:

  • Worrying that their company culture won’t be the same
  • Fear about their future employment or advancement opportunities
  • Stress about changes to company policies and procedures
  • Rumors of downsizing, major changes or other worries

Incumbent managers and staff are not the only ones you may lose after a merger or acquisition. A study showed that managers hired after an acquisition tend to leave at about twice the usual rate for nine years or longer after the event. This may be because a new organization might lack communication among staff, stability in leadership and a solid culture that promotes morale.

The key to smoothly getting through the volatile post-merger period may be in retaining your most valued staff. This may include giving your managers incentives to stay, keeping lines of communication open and not forgetting that non-management personnel can be just as important in keeping a company running. For more information on mergers and acquisitions, please visit our page by clicking here.

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