Acquiring a business can be an exciting endeavour! When you go through the acquisition process, it is important to ensure your new, Canadian employees are transitioned smoothly.
Four things to keep in mind are:
Offer Letters- Employment Contracts: Ensure that they are compliant with Canadian federal and provincial labour legislation and are reflective of your organization’s culture. Setting a clear expectation at the outset of your relationship with your new employees will go a long way in helping them feel good about the changes that are taking place.
Payroll: If it’s possible, choose to keep the same pay cycle or one that is very close to the current set up. This will minimize any disruption of the pay your employees receive, and it will let them know that you are taking their interests into account when you make decisions that impact them.
Benefits: If you are acquiring employees, you may opt to mirror the benefits plan that is currently in place. If you decide not to mirror the current plan, offering a similar or superior plan may be a good idea. Benefits are an expectation of Canadian employees, and they are a great attraction and retention tool.
Communication: Clear communication is essential. This can be tricky depending on the type of acquisition, but as soon as you are able to let your new employees know what is happening, the smoother your transition will be.
Working with a Professional Employer Organization will ensure that you are compliant and engaging in best practices in whatever provinces your employees are located. This will mitigate your risk and help to keep your new employees happy.
MJ Burchell / Business Consultant / PEO Canada