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The Human Resource Factor


The post acquisition human resource condition needs considerable attention and focus to ensure success of your new business. This includes the both expectations of employees and the new business owner. In most cases the employees were not aware the company was for sale and are now anxious as to their future employment. Both large and small companies are affected significantly. Internal relationships with previous owners now need to be reset with the new owners and expectations and future plans need to be communicated quickly. It is important to communciate to all employees in a group meeting as well as one on one meetings with each staff member. Any uncertainty can cause a loss of key employees who have been historically valuable to the success of the business.

While we expect new owners to make changes, be careful and take your time. Don't rush into significant changes and most importantly get feedback from employees and involve them in the improvements. Your goal is to have higher commitment and loyality from employees than the previous owner did. It will take time to earn an effective and productive relationship with your staff.

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