Steps to Acqui-Hiring

Step 1. Identify your talent needs and goals

The first step for Acqui-hiring is to determine what kind of talent and skills you are looking for and why. You should be very clear about the needs, challenges, and expectations and how will you achieve them with the help of Acqui-hiring. In order to understand the need, the company needs to identify the gaps and challenges the company is facing. Critical roles are essential for success, which they are missing. Also, they should discuss this with their employees and stakeholders.

Step 2. Research about potential target companies

The second step is to find a company that could help in achieving the company’s goals. Fill the critical gaps of employees. You should look for companies in various online databases, industry reports, social media, referrals, networking events, hackathons, etc. When deciding on the company you should look at the size, stage, and financial situation of the target companies, and how they match with your budget and expectations.

Step 3. Approach and engage with the target company

The third step is to approach the target company with a personalized pitch. You should tell them the benefits and opportunities they will get after joining your company. Be clear about the goals and expectations after acquiring the company. The main purpose is to build trust with the company and clear any concerns they have. Respect their privacy and confidentiality.

Step 4. Negotiate and finalize the deal

This fourth step is about purchasing the company. For that, you can seek the help of a legal consultant. So you have knowledge about all the policies related to this purchase. Negotiate to a price where both parties mutually agree. Then get approval from the board of directors and stakeholders of that organization. Get consent from the employees and offer them a good salary and compensation for their retention. After this, you can sign the formality documents, make the payment and complete this transfer of ownership.

Step 5. Integrate and retain the new talent

Now after acquiring the company, the final step is to integrate the new talent in a combined form. You should have a clear plan like, in which role each person will work, whether would they have the same positions which they had before, where they work, and which projects and resources should be assigned to them. You should also, organize collaboration workshops and parties. So that everyone can understand each other. Also, reward and appreciate them for their achievements. Monitor and measure their performance. Solve their challenges and concerns if they arise.