Job Hunting During Acquisition?

14 Comments

1. AnonymousJune 19,2023 at 10:07PM UTC

   Why not use this time to speak with current customers to see who may need your permanent help? If you've created a nice working relationship, they should love to help you out.

2. Joan Williams, Senior Talent Acquisition SpecialistJune 20,2023 at 2:57AM UTC

   I would check your Employee Handbook to make sure this is not against company policy. It can also be considered unethical. It can also backfire if one of your customers contacts your current company and lets them know you are soliciting them for a new job.

3. AnonymousJune 19,2023 at 11:35PM UTC

   My question: if there wasn't an acquisition and you were being paid as life was normal - how would looking for new opportunity be any different? I'm sure you wouldn't say anything about your situation outside work then, so what's the difference now?

   You need to take care of your needs first. Do the job, accept the extra pay because you never know what's next

4. AnonymousJune 20,2023 at 2:17AM UTC

   I've been through this 2x and both were during economic downturns 2008 and to a lesser degree at the start of the pandemic. Both times I started looking immediately because it took a minute for the sale to close. Both times I was very lucky and very pleased to time my exit with my payout. I networked that first 2 months, started landing interviews and collected my bonus then resigned.

5. Joan Williams, Senior Talent Acquisition SpecialistJune 20,2023 at 2:54AM UTC

   YOU SAID: "I am being paid my usual salary plus a bonus to stay through the sale"

   AND: "they are paying me to keep me focused on the task at hand"

   It sounds like you're being paid a retention bonus. If that's the case, it's not to keep you "focused on the task at hand", it's to make sure you don't leave before you're possibly be made redundant as so often happens in acquisitions and mergers.

   First I would check the terms of your bonus and see if there's anything in there that would dictate your timeline.

   Depending on how far out your bonus covers will probably dictate your job search timeline. It is to stay for 6 months or 3 months? 9 months? I would say start putting out feelers maybe 4 months before - you can start applying and interviewing. With applying and interviewing, that should take you pretty well into the 4 months. If you get lucky and find something quickly, hopefully they will let you push your start date out to cover your bonus period if needed.

   It's a fine line to walk - you can't really start too early - companies will only wait so long for a start date and you don't want to leave it too late.

6. AnonymousJune 20,2023 at 12:30PM UTC

   The job search climate is tough right now. Search now, it is not a fast process at all, even with the best of intentions. You may just find out that it could take a couple of months to secure a new opportunity. Be upfront with someone who offers you a position and if you want to take it provide a timeline of when you can start. If they push for within the usual 2 week notice, then make that financial decision. I think you'll find you may not want to pass it up.

7. AnonymousJune 20,2023 at 1:39PM UTC

   I've been involved in several acquisitions but not in a transitional or uncertain role with the newly merged company, so I can only speak to what I've seen others go through.

   If you don't have confidence that your department will be absorbed or that you would like the new company, start looking aggressively and take the position as soon as it is offered. If you get down to the end/bonus period and get an offer, you may be able to negotiate the start date to help you get your bonus.

   The last thing you want is to not have anything lined up, especially in this market. I guess that if they are offering you a bonus to stay through the end of the sale, then it is likely that you will be in a set of layoffs after the deal goes through. Unless that bonus would cover at least six months (including any severance they offer), then take care of yourself. The new company doesn't know you. You will probably keep your tenure for vacation and vesting, but your reputation tenure starts over, and you have zero at this point.

8. Liz MilneJune 21,2023 at 12:02AM UTC

   When I got made redundant, I started looking immediately and was able to step into a new position before I'd received my final pay (a month in arrears). Do the job, but don't neglect yourself: don't leave yourself at risk of no-income months if you can help it.

9. AnonymousJune 21,2023 at 1:15PM UTC

   Especially in today's market, start looking immediately. They're just paying you to do your job properly (the way you'd normally do), but there's no reason you shouldn't be looking out for your future at this point.

10. Kim PfeifferJune 21,2023 at 4:02PM UTC

    Immediately! You have no idea who will be kept after the acquisition

11. AnonymousJune 21,2023 at 4:51PM UTC

    I would continue your job search so that you can be prepared if there is redundancy with your role and a person in the other acq. company. If there is they usually decide who the stronger person is for the role or fold 2 depts. into one. There will be change, sometimes good and other times not to your liking. If you get an offer elsewhere you can decide if the stay money is worth staying or the new role and company is worth the uprooting. Both will require change and some flexibility on your part, the decision would rest on what your comfort level is for the level of change you will have to bear. You might find that staying gives you more opportunities with the new company if you are the one being acquired. Good luck.

12. Julie EJune 21,2023 at 6:24PM UTC

    I’ve been through four mergers and acquisitions and I would start looking now. It’s not a pleasant environment and if the new organization sees you as a redundancy they will have no problem letting you go no matter how focused you were at the task at hand. Plus the more time you allow yourself the more selective you can be with your next opportunity. You don’t owe them anything.

13. AnonymousJune 21,2023 at 6:30PM UTC

    Thanks, everyone, for taking the time to respond.

    I feel fortunate to have a six-month payment to soften my landing when this job ends in six weeks. The process has gone much, much faster than anyone expected, so now it's time to look towards the future.

    I have been aggressively saving for a while to ensure I could weather 6-12 months of unemployment or under-employment, and that bonus will help.

    I am not yet broadly advertising "open to work" but I am responding to recruiters who contact me. I will start looking in earnest next week after we pass our next sale milestone and I am more comfortable reaching out to my network.

    I really appreciate this community.

14. Katherine Metres Akbar, Interview Coach & Resume ExpertJune 22,2023 at 3:34PM UTC

    I'm glad you got the input you needed and that your employer is being so generous with severance. If you want any help finding the perfect job for you, we offer a free Career Success Consultation at YESwriting dot com. Even if you don't want to invest in help, you may want to utilize the free job seeker resources there. Best wishes!