How to Inform Employees When You Sell a Business

What is the best way to inform employees when you sell your business? Wait until the transaction is a done deal.

After many years of representing people who want to sell their businesses, experience has taught me that complete confidentiality about any thoughts of selling are in the best interests of every business owner. Consequently, the best time to make any announcements about selling will be on the afternoon of the day your transaction closes. That announcement should be well rehearsed and should include a personal introduction of the New Owners.

The meeting should be planned in advance so that 100% of all employees are in attendance. In that meeting, you can explain your personal reasons for selling and that, after a diligent search, you have found the ideal New Owners.

You also can explain that you will continue to be involved in the operation of the business for a period of time in working with the New Owners. Then, the New Owners should explain their background, the reasons for being interested in the business and their desire to do whatever is necessary in order to grow the business and create more opportunities for everyone involved. Last but not least, the New Owners should indicate they plan 搉o changes?and want to meet individually with each employee to get their ideas and suggestions about how to best grow the business.

Typically, any person buying your business will want to keep virtually all of your employees, as they represent a significant portion of the value of your business. Jobs will be lost only in those extremely rare instances when a New Owner intends to relocate a business a great distance, and then normally after a period of both notice and transition.

The fact of the matter is that virtually all employees fare better in the future because a high percentage of New Owners come in with additional capital and a desire to grow their new business. This growth typically spells opportunity for employees who want to grow their careers and who welcome working with a New Owner.

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Work Efficiency - Are Employees Really Overworked?

The Statlook system抯 unique function is tracking the company抯 computer usage mode. A wide range of cross-sectional reports illustrates the users?activities in each period of time and in the context of used software. By means of the Statlook system you can practically control all employee activity, beginning from the registration of Internet site visits, through the usage of each application and documents opened statistics, control of software installed, as far as the ability to view the screenshot and counting the keystroke rate.

Miscellaneous reports present very clearly which applications were used most often as well as which of them and for how long were in the foreground. On one hand, it allows you to assess the applicability of software installed, and on the other hand it may be the basis for assessment of employee commitment in completing his tasks.

Statlook then combines two functions: it allows you to use your application licenses rationally and significantly enhances office labor efficiency.

Normally, the first tangible results can be noticed right after the implementation of Statlook. The employees' awareness of the presence of the Statlook system on their computers is enough to obtain measurable effects within a very short period of time. Many non-productive activities will be reduced drastically as soon as Statlook is installed.

Due to its reasonable price, universal appeal and operating ease, Statlook gains popularity in Europe and the United States. The number of the companies that apply this tool exceed 5000 at present.

An internationally operating company A plus C Systems is now creating its authorized partner system. Negotiations are conducted with several leading IT companies, among which are software resellers, network integrators, and hardware providers. They are engaged in implementing safety procedures as well as Software Asset Management. By the end of the year, A plus C Systems intends to gain 50 partners all over the world, offering them very good business conditions as well as full technical and commercial support.

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Employers; Protect Your Employees Against Identity Theft

As more and more Americans are becoming victims of identity theft, many employers are increasing their level of security to protect their employees. A recent General Accounting Office report estimates that as many as 750,000 Americans are victims of identity theft every year. So, what can you do to protect your employees? Here are some ideas.

Employee files
HR (Human Resources) professionals will generally have a set of standard operating procedures when dealing with employee information. Make sure employee files, both active and terminated, are under lock and key. More importantly, make sure that only the Human Resources office has access to this key. In normal cases, the Human Resources office will be the only department who has any reason to access the employee files.

Information Release
Unless an officer of the court provides you with a subpoena, your company should have a strict policy not to ever release employee information to any individual except the employee him/herself.

Clean Desk Rule
Does your company have a clean desk rule? If not, you抎 better make sure one is instituted. This rule ensures that any employee who deals with any type of sensitive employee data clears their desk and files and that this information is under lock and key whenever they leave their workstation. Many financial and housing institutions already practice this rule.

Social Security Masking
In the past, entire social security numbers were used to identify an employee. With the increase in identity theft, (and the methods by which thieves acquire this information), employers are now using number masks. In other words, instead of identifying John Doe as 123-00-4567, he is now identified as Doe XXX-XX-4567. This is what is used when sending information via mail or email and has dramatically helped employers reduce identity theft.

Use It Then Lose It
After an employee processes data containing sensitive information, and if it is not required to be refilled, information should be destroyed. A common paper shredder can be purchased for about $50.00 at any office supply store and can be another weapon in your arsenal to protect your employees. Documents should be shredded either immediately after use or at the very least, the same day before the end of the work day. This avoids storing hundreds of documents that can cause your employees?information to be stolen.

Identity theft causes months of grief and potentially thousands of dollars to fix. It抯 up to employers to do their part in protecting them at the workplace. For more information, contact your Human Resources office or visit the social security administrations website at http://www.ssa.gov/

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Enticing New Employees With Corporate Stability

Employment is on the rise and with it, the return to attractive compensation packages and salary levels. After several down years in the employment market that was the result of the normalization of an inflated stock market and the beginning of the War on Terror, employers are constructing compensation packages with an eye to drawing dedicated employees.

During the economic bubble of the late nineties, employers were in head-to-head competition with each other to offer benefits and salaries that would draw the best employees. For job seekers, that environment was almost a pick and choose situation in which they could nearly name their salary and benefits package. Many of the dot coms, flush with venture capital, were offering performance incentives that included sports cars, trips around the world, in-office massages, and ping pong tables in the employee lounge. The goal was to attract and retain quality employees.

Employees are looking for something other than Aeron chairs and Hermann Miller office accoutrements in today抯 job market. Workers who were bitten hard by the post-9/11 reduction in force and layoff epidemic are looking more toward corporate stability as an attraction in a new employer.

揑 was laid off three times in the twelve months after 9/11. Each time, the company had lost funding and run out of cash,?states Randy McEwen, a sales executive, 揘ow I am just looking for a company that has a stable record of growth and a good future. Latte machines in the lounge are nice but I抎 prefer a group insurance plan that includes dental.?
McEwen抯 concern about stability and traditional benefits is not unusual among job seekers. With the rising cost of health care, insurance coverage tops the list of desired benefits. Corporate soundness is also a high priority as employees recover from the layoffs of the first half of this decade. Employees are less likely to apply to a company that offers stock options as an incentive since so many still hold worthless stock options from previous employers. The term 損re-IPO?no longer holds pull with job seekers.

揚re-IPO just means they throw lots of promises at you but no real benefits,?states McEwen, 揋ive me a good 401K match instead.?Such cynicism is fairly common among professionals who were burned by start-ups. Caution is being exercised by job seekers as they seek to make a career step or change.

As a job seeker, what can you do to weed out the stable companies from the ones on wobbly legs? Here are a few tips:

Examine the company record. You should find out about the company before you go on the first interview. Is it public or private? If it is public, what is the stock trading at and what has been the performance record for the past 18 months? If it is private, how long has it been in business and how large is its market? This information will give you a starting point on gaining perspective and will also provide you with fodder for the interview.

Look at the market. Is the market the company services growing or shrinking? Is it a niche market with one large customer or is it broad and ripe with competition? Who is the competition?

Think like an investor. As an employee, you will be investing a majority of your life in this company; therefore, you need to think like an investor. Is this a company you feel is on the right path to success? Is the leadership sound? Are the numbers in the financials good? Do they have a high employee turnover rate?

What is in the benefit package? Benefits like 401K matching, profit sharing, and good health plans show a company cares about investing in its employees. These are the benefits that show the degree of value a company places in its employees.

Evaluating a company before entering into the dance of interviewing can save both parties a great deal of time and effort. Companies do not want to make a bad hire and job seekers do not want to sign on with a company only to have to start looking for a job again in six months. Doing a little homework ahead of time will serve you well.

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