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Talent Trade Tidbit - Acquired (Pun Intended) Advice for Banking
If you're caught in the middle of a merger or acquisition in the banking world, there are a few main scenarios you may want to consider. Stephanie breaks down your options...
Transcript
Hi, this is Stephanie Maas with Thinking Ahead Search Firm.
Speaker:Today I wanna talk to you about mergers and acquisitions.
Speaker:What does this mean for you if you are on the side that is being acquired professionally?
Speaker:You really have three options.
Speaker:The first option is you need to take a look at the acquiring bank and say, Hey, is that a bank that I ever would've wanted to work for?
Speaker:You should know the culture over there.
Speaker:It's a competitor.
Speaker:You know folks that have worked there.
Speaker:You probably have a sense of if it's a place you've ever wanted to work before.
Speaker:Second thing is you need to say, Hey, who over there now?
Speaker:Does what I do, what does my competition look like for a job?
Speaker:If you find yourself in a situation where neither the bank is attractive, or you think if you went head to head with their person for the job, you would win, then you absolutely need not wait.
Speaker:You need to start looking and get something lined up.
Speaker:Even if there is retention money on the table, which can be so tempting, you need to start looking for your next gig.
Speaker:Bottom line, you absolutely don't wanna get caught in a situation where you're looking once the market has been flooded with talent.
Speaker:Second scenario, you go over you.
Speaker:You take a look at the acquiring bank, and you say, huh, you know, not sure if I wanna work there.
Speaker:I've heard some good things.
Speaker:I've heard some maybe not good things, but I'm very open-minded.
Speaker:You look at your competition for a role and you say, you know what?
Speaker:They really don't have anybody that does what I do, or they have somebody, but they certainly aren't doing what I'm doing, then absolutely, let's go into what I like to call the wait and see mode.
Speaker:It's a great time to truly wait and see.
Speaker:At the same time, you need to be smart about this.
Speaker:Just because you're in a wait and see mode, it doesn't mean that you don't keep your ear to the ground.
Speaker:Wait and see is not bearing your head in the sand.
Speaker:It's wait and see, but be strategic and smart.
Speaker:At least listen and hear what else is out there in case you need a backup plan.
Speaker:And then lastly, of course, if you take a look at the bank that's coming to town or coming to your bank and you're like, oh my gosh, that's my dream bank.
Speaker:I've always wanted to work there.
Speaker:I, I'm almost positive that they don't have anybody that does what I do.
Speaker:There's no overlap.
Speaker:I'm guaranteed a job.
Speaker:I.
Speaker:Congratulations.
Speaker:That's an awesome situation to be in.
Speaker:And you know what?
Speaker:That's the role you need to play.
Speaker:If you find yourself in that situation, you be the team player, you be Mr. Rah, rah about the acquisition.
Speaker:You make sure that you're communicating clearly and loudly to that acquiring bank that you're excited to be a part of them.
