Surviving a Corporate Takeover

If it hasn't happened to you, it probably has happened to someone you know. In today's increasingly competitive environment for market share and higher corporate earnings, companies are continuously reorganizing due to corporate mergers and acquisitions. These restructuring activities resulting from takeovers typically force the corporations to reduce costs by slashing overhead in order to maximize profitability. Therefore in today's dynamic corporate economy, it is critical to your career to understand and prepare for these events.

Surviving Career Upheaval

Professionals expect that success will follow hard work and commitment. However, this relationship is not always secure. Senior Managers and CEO's know and understand that unexpected events can cause a sharp diversion from this relationship. Therefore, it is essential to plan for the unexpected. The following three steps will help you survive a career upheaval:

• Develop a Financial Reserve: Solid career management requires that you save a nest egg equal to at least three months living expenses should your position be eliminated. This will help you avoid taking the first opportunity that comes along in order to make ends meet.
• Maintain Your Network: Developing and maintaining your network throughout your career may help you turn an adverse situation into exiting new opportunities. Utilizing your professional contacts can help you quickly find an appropriate position in the event that your position is eliminated.
• Manage Your Career: Work to make yourself critical to your organizations success and you will be better positioned to avoid the sting of a corporate downsizing caused by a corporate takeover.

Avoid the Us vs. Them Mentality

The fastest path to unemployment is the path of greatest resistance. That said, surviving a corporate takeover requires you to best determine how they can add value to the new organization.

• Market Your Skills to the Acquiring Firm: The acquiring organization is trying to maximize profitability. Therefore they will work to identify the people that are the key to the organization. Utilize every opportunity to demonstrate your value to the new management
• Stay Positive: Maintain a positive attitude throughout the ordeal and avoid associating with chronic complainers. The new management will place greater value on employers that are able to adapt quickly to change.

Surviving a corporate takeover requires preparation, solid listening skills, and adaptability. Developing these attributes will not only help you in a time of career crisis, but throughout your entire career.