Top 5 Tips to Manage Your HR When Exiting

Keep your employees informed.

Make sure that your employees hear about a potential sale of the business from you, and not a third party. Let your staff know you are willing to talk with them about any concerns they may have.

Talk directly to your employees.

In the absence of information, rumours run rampant. If employees feel uncertain about their jobs, they might decide to leave before your business sells.

Be truthful, but positive.

Be upfront with your staff and address their concerns honestly. If possible,  help them transition to new management or find employment elsewhere once you exit the business.

Seek legal counsel.

If you're not sure about how to end your contractual agreements, enlist the help of a lawyer to review your contracts and to provide a legal opinion regarding any obligations or liabilities.

Hire an accountant.

Enlist the services of an accountant who specializes in small business to ensure that your financial records are organized and that you fulfill your payroll and tax obligations when you exit your business.

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