Company takeover: tips for team managers whose company is changing owners

Acquiring companies is a standard part of portfolio expansion and strategic business decisions. If your company is about to be bought out or change hands, you as a team manager are bound to be affected. The question is: how? And what impact does this situation have on the way you should lead your team? Here are some tips for team leaders at companies facing acquisition from a new parent company.

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These tips were published by INSEAD Knowledge.

Open communication

The key to a successful transition of a team and company under a new owner is open communication. Remember that this is a new, unfamiliar and stressful situation for your subordinates (just as it is for you). Help them navigate the process and, if possible, communicate with them completely transparently about what is happening and what lies ahead.

Getting to know the structure of the new company

As a team manager, you should familiarise yourself as soon as possible with the structure of the company that has bought out your employer. What changes does it intend to make? How does performance reporting work and what does this whole change mean for the day-to-day functioning of your team and its place in the company's organisation?

Linking old and new structures

Use your knowledge of the existing processes and structures at the company and try to find a way to make them best fit into the new structure of the parent organisation. Find things you have in common, as well as potential pain points, and suggest ways to close these gaps.

Mutual transfer of skills

New business owners are sure to bring in new knowledge, insights and skills that your company and your team can use. Likewise, your team brings their knowledge and unique know-how to the new firm. Try to transfer these skills and experiences mutually in a constructive way.

Flexibility and empathy

Remember that this is a sensitive and potentially stressful situation for everyone involved. So be open, flexible and empathetic. Communicate regularly with your subordinates and try to allay or at least alleviate any fears and doubts they may have about the process.

 


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Article source INSEAD Knowledge - INSEAD Business School knowledge portal
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