DUE DILIGENCE – people and talent
When considering selling, and in particular when buying a business where the personnel will be retained, and especially where they are essential to the continuance of the business, personnel due diligence is vital. When buying or selling a business be sure you know the value of what you are buying/selling, the people resources may be the most valuable item in the transition and continued operation of the business.
The takeover of seemingly good business operations can be jeopardised at worst, and hindered at least by taking over people and practices which have not been evaluated for the ownership/performance transition. Who plays the key roles? Who has unrecognised authority and influence? and how willing are they to carry additional performance expectations during the transition period.
Elliott Consultancy with the strategic partners, is unique in the market place in offering this service New Zealand-wide.
If you are contemplating buying, taking over a business with the personnel in place, be sure to undertake talent due diligence on the people just as you would on the business itself.