The fairly small data storage center had been actively looking for someone to purchase their company. Although all of the employees knew that this change was a possibility, few new that an entire restructuring consultant staff had been hired to make sure that the small company’s acquisition happened in a timely fashion.
Once the acquisition was announced, the restructuring consultant and the human resources team had already written and created package deals for the key employees who would be needed to make the transition a success. While some of the top executives were offered buyout packages, many other employees were offered packages that included future company stock options to keep them interested in the success of the new merger. Some of the employees were also offered retention bonuses, partially paid when they signed the \”stay\” contracts, partially paid one year later.
Finding and keeping the best employees is a challenge in many fields. Achieving these goals in the IT world can be even more challenging. When a larger company acquires a smaller company it can be especially difficult to maintain the staff members who are needed to make the transition possible and the new larger company functioning. Hiring a restructuring consultant, however, can make many of the challenges of merging two companies more manageable and more successful.
What Management Challenges Does Your Company Face?
A restructuring consultant can help firms both large and small with talent acquisition and other human resource staffing needs. Restructuring experts are in the business of helping companies achieve their goals. They help with talent acquisition, human resources, and employee retention. A business survey by Vistage indicated that 35% of CEOs of small and midsize businesses see staffing as the most significant business issue they currently face. In fact, staffing was cited twice as often as any other management and business issue.
While finding the best talent is important, retaining that talent can be even more valuable. In fact, 57% of organizations view employee retention as a problem for their company. A talent acquisition management service can put processes in place that will encourage the top employees to stay with a company. For instance, the best human resources practices indicate that new hires who undergo a structured on-boarding program are 58% more likely to be with the company three years later.