It is about getting the deal done. And your business and/or your reputation is at risk if you don’t do it right. Then of all the things you need to worry about, like financing the deal, making sure you retain customers, or not breaking the supply chain, there is that HR “stuff” too – that if not done right, puts at risk meeting financing covenants, staying engaged with customers and maintaining the “tribal” knowledge to operate the supply chain successfully.
You need to make sure that the mechanics of getting employees integrated works, the HR vendors are dealt with, and that your systems can handle it; all to make sure that the employees’ employer sponsored healthcare, retirement plans and data continue humming along, while maintaining deal parameters and regulatory compliance.
At Optimatum, program and vendor management is what we do. We can start pre-deal in supporting your due diligence and the data room. For example, any unfunded pension liabilities to consider, any non-complaint benefits plans to bite you later? And what is it going to take to migrate from the target’s programs to your’s, while respecting a purchase agreement that includes something around maintaining comparability of these programs for the target’s employees, at least for some period of time.
Then we drive getting ready for Day One, developing and executing a roadmap to deliver a seamless Day One. For health and retirement benefits we manage vendors through the transition, ensure the migration of employee data (using our proprietary Data Transfer and Reconciliation Program), and building the road map to identify and execute against the opportunities to deliver the post-Day One synergies. All done working in tandem with advisors, counsel and key stakeholders.
It lets you and the business focus on getting on with business.