After selling your supermarket one of the things you can do is to ensure that your employees experience a smooth transition to the new management. You are, after all, entrusting not just your business to your buyer but under specific arrangements, your staff as well. Your participation and how you prepare your employees beforehand will make the transition easier for all parties involved.
A change in ownership is exciting but is not always met positively by employees. They can react in a variety of ways, some of which will not benefit your business and its new owner. Some will get nervous, demotivated, and even quit. As the person who has established a relationship with them, you can help alleviate your staff’s concerns and make them more open to the new management.
Communication and trust
Confidentiality cannot be more vital to a business sale. Loose lips can be very detrimental not just to the sales process but also to your business’ future. As such, it is important that not even your workforce knows that your supermarket is itself up for sale.
The best time to inform your employees of the impending change in management is when you are a hundred percent sure that the sale is pushing through. To prevent adverse reactions, you need to be able to communicate key details, such as:
- Your reason for selling the business
- Who the new owner will be
- The timeline of the sale and organisational change
Trust is a big deal in any organisation. If you have a good relationship with your staff, they may have reservations about the new boss. Added to this is the uncertainty that they may feel about their employment. Give them peace of mind by assuring them that they will not lose their jobs. It is also ideal that you express confidence in the new owner. Seeing that you trust your successor will help ease their hesitation and help smoothen the transition process.
Take it a step further by acting as the intermediary between your staff and the new owner. You can stick around for some time after the sale, making sure that the new boss is familiar with the workforce, as well as the processes in the business. Your familiar presence will put your staff at ease in the midst of what could be, for them, a very stressful sequence of events.
Selling your business and the ownership transition that comes with are anything but simple. With the right preparations, you can help ensure that the outcomes benefit you, the new owner and your employees.
How will you make the transition smoother for your employees? Tell us below.