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Employees are Valuabl

Effect on Employees in the process of the Business Sale.

From a Business Brokers Point of view !

 

When selling a business, the employees are a very important part of what we are selling.This is the task from a Business brokers perspective.

 

  • As they constitute a large part of both the asset and the process. In fact, in most business sales the employees are the key to the owner’s concerns and thinking.
  • They buyer is also extremely concerned and interested in the employees ….

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So we need to ensure that we can:-

 

  • Know who the employees are.
  • Know how important each of them is to the smooth running of business.
  • Understand the form of employment agreement that exists between owner and staff.
  • Comprehend the entitlement and liabilities that come with the employees.
  • Find out if there are any outstanding issues between employer and employee.
  • Manage the process, so that employees don’t leave the business – or the business operation is not destabilized.
  • Make sure that the buyer (or seller) don’t get a “nasty surprise” with employee entitlements.

When it is too late?

  • We need to prepare the business for sale, and the study of the HR and employment side of the business is a key factor in ensuring that a business will sell for maximum value.
  • If you find that there is a key employee in the business and that the business cannot function at present levels of performance without that employee – you need to address that issue straight away. A good broker will ensure that all of the “roadblocks”, and potential “deal breakers” are removed at the outset, and will avoid any last minute problems and challenges from arising.

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Types of Employees.How many types of employees can you identify?

  • Full time.
  • Casual.
  • Full time/Permanent Casual.
  • Contractor.
  • Sub-Contractor (are there potential “deemed employee” potential liability issues for the business for subcontractors that are not incorporated and/or not engaged on a non-exclusive, executed agreement basis ?)
  • Consultant.
  • Equity Partner – are their rights specified in an agreement or via voting rights?
  • Shareholder – minor – are their rights specified in an agreement or via voting rights?
  • We need to identify how many employee types the business has.
  • We need to do this to answer the questions that the Buyer and Sellers will have about.

 

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When Buying or selling your Business ,your employees deserve to be considered fairly.

 

 

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