Strategic Business Management Includes Revenue
Career Management, Talent & Capability
Let me make you think logically better than before.
Kindly assume that, you are the one about to take over an organisation. What kind of information do you expect to receive from EX-MANAGEMENT?
1). You can't wait to receive information from the date of your take over. You need to workout with the ex-management, before you takeover by all means.
2) You will definitely wish to receive CHECKLIST - DEPARTMENT-WISE as the way it was, to understand OPERAS MORANDI and employees involved.
3) The most important thing to present every RECORD, especially ACCOUNTS, IN THE ORDER, to get everything clarified.
PF & ESI is applicable as per the norms prescribed by PF & ESI BOARD. Management's can't change the value unless SALARY STRUCTURE (break-up) is revised just to reduce OPERATIONAL COST.
Hope you can start working on "what to be prepared"
With profound regards
14th December 2011 From India, Chennai
I envy you. You are in an Ideal situation that true HR dreams are made up off. You have been given a god sent opportunity to really, really succeed and grow. So lets see what you need to do...
1. Take over is a very delicate situation for the workers of the organization that has been taken over. So your first line of duty is to understand the doubts in the employees mindset and address the same. You need to start communicating with the employees and assure them about their future in the new entity. This is extremely important if you want to retain your existing employees.
2 Then you need to start communicating with your new management. Understand their psyche, their plans , their culture. Make them understand your existing culture, expectations, dynamics.
3. While doing this identify those areas that need intervention. Decide what and start the transition process.
4. Have your department heads prepare a document about their department. Some thing like a ready reckoner.
5. Start sharing information with the New Management
6. Ensure all employee records are upto date and in proper files.
7. Talk to your CA / legal for advice on take over compliance.
Always remember, take overs Fail not because of compliance but because of failure in the transition strategy & plan.
If you need help, send me a message.
Navneet Chandra Kulshrestha - India | LinkedIn
Cheers & have fun!!!
14th December 2011 From India, Delhi
Is the take over by way of transfer of undertaking ? It appears that there will be a mere name change of the co and rest all the things seem to be the same. The employees will continue to be on the rolls of the new co. with continuity, the esi and pf nos also will continue but the name change in specific format will have to be submitted to all the authorities. A letter will have to be issued by the management of the new co to the employees stating that they continue to be the employees of the new co and their continuity will not be affected.
14th December 2011 From India, Pune
Thanks for your replies.
Yes it is the takeover by the way of transfer of underataking
1. can you please tell me what is that specific format i have to submit to the authorities.?
2. What are the statutory forms and formats to be used when a new management takes over without termiantion by the old management?
3. Is there any format for taking willingness of the employees to join new organization.?
4. We completed all the record updation and the checklist of all the depts, employees and the policies are explained to the management.
Can you please send me the formats
14th December 2011 From India, Hyderabad