Acquisition / Spinoff / Growth Challenges
Wise Consulting has assisted many organizations as they acquire new companies, are spun off from a parent organization, or are experiencing significant organic growth. Each situation brings great opportunity and interesting challenges. Senior leadership is being pulled in many directions and ensuring the HR/Payroll solution is ready on time is now on your plate. We can help you quickly assess your situation and lay out the options and timelines to meet your “drop dead” dates.
Your decision to fold your new employees into your existing structure and policies or allow the acquired company to retain their structure and policies has a very large impact on this project.
Folding into your structure? The project becomes more about data mapping and data conversion.
Retaining their structure? You are basically looking at a full implementation. New company requirements are defined. Configuration completed. Testing is required. Plus, data mapping and conversion.
We understand time is usually tight. We discuss options and bring in our tax specialists to address any questions on handling previous wages and employer taxes paid depending upon the structure of the acquisition itself.
As the company being spun off, you likely are creating all new HR policies, negotiating new benefit plans, and may be changing pay-specific items as well, including pay frequency. We understand that this is just one of the many crucial areas being defined and staffed as your new organization is forming.
Depending upon the length of your transition services agreement (TSA), the time frame for making decisions, selecting and preparing a new system, loading employee data, and performing at least some level of testing is crazy. But it is what it is.
Wise Consulting has partnered with many spinoff companies and understand the issues and the constraints. All of which are too complex and varied to further describe on our website! Each situation is unique and we are happy to talk through options and develop a plan to have your HR/Payroll system and staff ready for Day 1.
Growing organically brings its own set of potential challenges within HR and Payroll. Is the system configured/optimized to meet your changing needs? Is your payroll staff experienced enough to handle a more complex organization? Are you prepared for moving into new states or countries?
Wise Consulting understands growth challenges and brings experienced consultants with insight, recommendations, and hands’ on assistance to ensure your system and your payroll department continue to run smoothly.
Please complete the contact information below to initiate a conversation around how Wise can help you at this exciting time.