Apologies for the delay in posting, blame windows vista as my computer crashed, costing me a lot of time and hassle!
With firms going into liquidation and being bought out, more and more people are dealing with new employers.
Don’t assume that just because of your knowledge of operations, the company etc you will be kept on. I’ve heard of instances where the new owners simply keep employees for a few months to learn as much as possible and then let them go, once they’ve acquired the inside knowledge they need.
Unfortunately if you try to hold on to all your knowledge yourself, you’re liable to be let go even quicker!
So what can you do?
Firstly, be prepared.
Keep your CV and your contacts up to date
Listen to what’s going on in your trade or industry
Check out whether your existing salary is high or low for your position in your particular industry as this can determine whether the new owners will make you an offer & how likely you are to be let go. The higher your salary is compared to other similar roles the more likely you are to be let go..
Make sure you know what your own career objectives are for the future as this will help you decide what’s best for you.
Do your research on the new owners
Find out as much as you can from surfing the internet, talking to suppliers, customers etc. The more information you have -the more prepared you’ll be for dealing with your new owners and adapting to their style of managing. It will also help you decide whether you see a long term future with the new owners.
Thirdly don’t hide.
Think about how you can be useful to the new owners either in your existing position or in a new position.
Volunteer to get involved in new activities the owners are planning.
Listen really hard
All this means you have to really listen to what the new owners are saying both through the grapevine and through the formal communications system.
Know your rights.
There are legal protections in these situations, but it is a complex area, depending on whether the old owners make you redundant, new contracts are offered or existing contract still in place. See Nera the National Employment Rights Authority to see what legal rights you have in your particular situation.