When you’re working in corporate America, the chance of your company merging with another one is always there. Having been a part of two mergers, I’ll be the first to say that everything does not always go smoothly. You job title and job could change. Your pay could change or something worse could happen. Your position could be phased out. I’ve been lucky enough to have things go decently in the mergers that I’ve been a part of.
The first merger that I was a part of happened with Wells Fargo and Wachovia Bank. The merger was officially approved in 2008. My branch in Savannah, Ga started making changes in 2010. They officially changed its name, systems and its signs in 2011. The first few months of the merger were a struggle. The Wells Fargo teller system was vastly different than Wachovia’s. It took a while to get used to it. We also had to learn various products and serve both Wachovia and Wells Fargo customers now. There were times where I wanted to quit, but I realized that wouldn’t solve anything. I continued to do my job. That’s what you should do if your company goes through a merger.
The second thing that I want you to do is to do everything you can to help the merger go smoothly. You can attend extra training or help coworkers out who are having difficulty during that time. Mergers can be very stressful times. Your manager will appreciate anything that you do to help the merger go smoothly.
The next thing that you should do is to review your compensation & benefits with the company. Things may change. When my current job merged at the beginning of the year, we actually received a raise. Our benefits stayed the same because of the industry that I’m in. That may not always be the case. Your human resource office or manager should send you updated information about your pay and benefits. If they don’t, you will want to contact them when you get the chance.
If you have questions about the merger, don’t be afraid to contact management or HR. They are supposed to be there to help you during the merger. There is no such thing as a stupid question. If you don’t know something, don’t be afraid to speak up and ask.
Some people don’t want to deal with a merger, so they begin to plan an escape. If you don’t particularly like what you’re doing, this may be the move for you. Before you make a decision, make sure to talk with your significant other. You don’t want to go from being a Dink to a Sink (single income no kids) without letting them know. While planning your escape, you can fine tune your resume, learn a new skill and reach out to your network. It is possible that you will have a new job before the merger is complete.
Mergers and acquisitions are a part of the business world. Companies merge all the time. While it’s not always the easiest thing to do, you can survive it. Following these tips should help you get through the merger.
Have you ever been through a company merger?
Jason Butler
Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.
My company is going through a huge merger right now. It still has to be approved by the governments, but I am not so sure I’d like to stick around. Anyhow, I have updated my resume just in case I will need to have it ready. We’re told there could be additional layoffs :-(.