3 Steps to Take When Your Pharmaceuticals or Biotech Firm is Experiencing a Merger or Acquisition
Mergers and acquisitions – M&A for short – are a common occurrence in big business. The pharmaceuticals and biotech industries are no strangers to strategic growth and contraction when money is on the line. As an employee in one of the affected firms, you may feel like you have no control over the situation and how it will impact you long-term. Below are 3 steps to take when your pharmaceuticals or biotech firm is experience a merger or acquisition:
- Take Stock – Proactivity is a good thing. Realistically assess where you are in your current role, your value to the company, and how your career will be affected should the transition be completed. Executives are often the ones made redundant in a merger or acquisition, so it doesn’t hurt to be prepared.
- Network – Without disclosing anything confidential, begin reaching out to your industry network and put out feelers for potential opportunities should the transaction impact you directly. Connecting with a well-connected industry recruiter like Key Corporate Services can help ensure you’re ahead of the curve if changes occur.
- Stay Focused – As difficult as it may seem, you need to continue focusing on your deliverables. A lot of steps have to be completed for a successful merger or acquisition. If there’s a wrinkle in the process and the deal falls through, you don’t want to be the person who dropped the ball. You’re still being paid a salary to do a job.
Being uncomfortable, uncertain, and anxious about how a merger or acquisition may affect your livelihood is perfectly normal. While the amount of control you maintain on the process can be out of your hands, you do retain ownership of your personal agency. How you choose to react is a choice.
Are you currently employed by a company experiencing M&A and unsure on next steps? Contact us today to learn more about how we can help.
About Key Corporate Services
Key Corporate Services is a leading retained search and job search headhunting firm specializing in the following industries: industrial chemicals, pharma & biotech, food ingredients, finance and accounting, manufacturing and engineering.