During a merger with another firm, your Marin County company must be able to maintain control over its employee benefit services in order to maintain an effective benefits package for your employees. Many growing firms struggle within this process during their mergers. So, within this latest post, we’ll explore the process and explain how to effectively mitigate problems.
- Don’t change everything immediately
There may be an urge to change the entire approach to the benefits offered immediately after the merger. But this can cause long-standing issues. Employees will already be nervous. Try to not change too much about the existing system as you consider the Marin County employee benefit services options. Speak with your team members and find out about their concerns.
- Communicate with new employees about the broker
Make sure that any new employees joining your firm are informed about your employee benefits broker and the options provided. Ask that they open a new account for their insurance with your current broker as soon as possible. This can help to streamline the adaptation. However, any already scheduled vacation time and benefits payments should be matched as closely as possible to ensure your new employees are welcomed.
- Present multiple coverage options
Work with your broker to determine the best options to offer your employees after the merger. This process should take place over several months and should take into consideration your current budget as well as the size of your current workforce. Make sure that employees are updated throughout this process and ask that your employee benefits services provider in Marin County is available to answer questions and guide employees in making their choices.
- Schedule meetings with all staff members
Once the transition is completed and the new staff members are settled in, schedule meetings with the staff on an individual basis to find out what’s most important to them from their employee benefits. Once you have this information you can work with your broker to hone your packages and ensure talent is retained.