So, You're Being Acquired

By Peter L DeHaan

August 8, 2007

Most employees fear the changes wrought by acquisition – be it a newspaper or a call center.  Last week it was confirmed that Rupert Murdoch's News Corporation had reached an agreement to purchase Dow Jones & Company, Inc, owner of The Wall Street Journal.  Staff of The Wall Street Journal reportedly reacted in shock and dismay over the $5 billion announcement, proclaiming concern over an anticipated clash between the prestigious Journal's historical mode of operation and Murdoch's active management style.  These feelings existed, despite Murdoch's reputation for strategic vision and a proven track record in turning businesses around.  Given the Journal's diminishing advertising revenues, the constant pressure to maintain their stock price, and the increasing threat of job cuts, an acquisition by a well-financed and savvy suitor should have been welcome news.

I have never been "acquired," but I have been on the other side – about a dozen times, buying small and medium-sized telemessaging call centers and integrating them into a larger operation.

The almost universal response to an acquisition announcement is trepidation and panic.  Call center staff, especially front-line agents, expect the worst.  Even those who dislike their present company protest loudly at the prospect of a new employer.  Increased pay, expanded benefits, and promises of job security do little to quell their swelling apprehension.  There is fear in the unknown. 

If you are in an outsourcing call center that is being acquired, the possible strategies and resulting outcomes are limited and predictable.  The buyer could be looking for a working, functional call center facility, but not staff or accounts.  Conversely the focus could be on the account(s), but not the staff or facility.  In these cases, the facts are soon readily apparent and your future employment status is known, albeit not desirable.

However, in most cases, the purchaser wants the entire operation: the staff, the facility, and the accounts.  Happily, jobs are secure and the future is promising.  Yes, changes will occur, but astute employees will anticipate and welcome these as requisite adjustments for a better future.  It is those who oppose or reject the new owner's directives who run a legitimate risk of unemployment.

If you work for an in-house call center and your parent company is acquired, the possible outcomes are more complex.  The intent could be let the new acquisition continue to operate as is, in a hands-off, independent manner.  However, some of the other prospects are not so encouraging.  There could likely be a desire to cut costs, which unfortunately means that some positions or even departments could be eliminated.  Sometimes, the goal is to sell off parts of the company to other buyers.  (Analysts anticipate that News Corporation will sell off many of Dow Jones's small regional papers.)  At the most extreme, the entire company can be dismantled and sold piecemeal – then employees need to endure a second acquisition. 

For those who acquire other call centers or companies, never forget the human element.  You are dealing with peoples' lives and livelihoods.  Honestly communicate as much as you can, as quickly as you can.  Backup your positive pronouncements with tangible supporting action.  And if the news is bad, treat people with dignity and respect, doing all you can to facilitate their movement into a new job or career.

For those who are being acquired, remember that though you cannot control much of what happens to you, but you can control your response to it.  Be realistic and update your resume so it is ready if needed, but don't prematurely jump ship.  Instead, choose to have a positive attitude about the situation, support the new management, and prove yourself to be a valuable asset.  You could end up pleasantly surprised by the result.