What happens to my staff after I’ve sold the business?

When we’re thinking about selling our business, it’s important that we look after the staff because they are the ones who, ultimately, will probably be looking after your clients.

It’s important to remember though, that the staff didn’t apply for a job with the new firm, they applied for a job with your firm. So, harmonisation of the culture, remuneration and benefits, and the flexibility in the role are really vital. You know, they’re going to, probably, going to be a little bit worried, they might be a little bit anxious.

Some firms involve their staff early on, most leave it until later. But even if you don’t think that they know you’re selling, or wanting to sell, they’ll probably have an idea. So, write down what you think their concerns are likely to be and how you’re going to address them. And even how you think this change will probably benefit them.

It’s particularly important to bear in mind that they may well be the first port of call for clients, when they find out that the business is going to be sold.