Stay Or Leave? November 1st, 2007
Your corporation has been recently acquired by a competitor. Now’s the time is to access whether to hang your hat with the new bosses, or to look for greener pastures elsewhere. How do you decide?
Experts advise weighing all of your options as a member of the executive staff before deciding to call it quits, according to a Wall Street Journal Online article. It’s no secret that the new bosses will tend to favor the executives they already have in place, so every executive needs to have a back-up plan in case the ax falls. At the same time, jumping ship too soon can cost you, as well, with many executives eligible for a retention bonus months after the deal closes.
Get an employment contract. Unless the new owners offer an employment contract to retain you, assume they have no plans for doing so.
Prepare for a job search. Until you have a signed contract, begin a job search by contacting Reaction Search International to assess your options.
Watch for warning signs. If you’re excluded from critical meetings, e-mails and chats around the water cooler or calls go unanswered for days, assume the worst.
Your duties change. If you’re suddenly assigned to handle unpleasant or the most difficult tasks, your new bosses may be trying to push you out without having to pay severance.
Do your homework. As you would with any potential client, check up on your new bosses. Talk to suppliers, rivals, and former executives to assess their position.
Assess the culture. Review the work culture, the environment, and the benefits offered through your new employer. It may not be a situation you want to continue with.
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