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What role does HR have in preparing a business for sale? Clare Gilroy-Scott published in People Management
- AuthorClare Gilroy-Scott
“From an HR perspective, the buyer will need to know what terms are offered to employees, workers and contractors so that it can: comply with its obligations after completion; assess wage costs; consider restructuring or other changes post-completion; and assess risk in terms of employee-related liabilities. The seller will want to be able to demonstrate to prospective buyers that all is in order in respect of its employees and their contractual arrangements.”
Clare’s article goes on to consider the different obligations for sellers in asset and share sale scenarios, outlining the more prescriptive information required in an asset sale, when TUPE applies. In both cases HR can prepare efficiently for a company sale by:
- Collating the relevant employee information and documents in good time
- Creating clear employee lists detailing the ELI/ main terms of employment
- Ensuring information is accurate and up to date
- Anonymising information as far as possible
The full article is available now on the People Management website:
Clare Gilroy-Scott is an experienced employment lawyer advising on all aspects of the employment relationship to clients in a broad range of sectors. Clare’s experience is in both contentious and non-contentious employment matters and includes restructurings, redundancies, TUPE, HR support, drafting employment documentation and resolving employment disputes. She also advises on employment status, off-payroll working and IR35 implications.
Goodman Derrick – Employment
Our London based employment law team take a commercial approach to advising clients in relation to their HR and employment law matters.
The employment law team assist with employment contracts and policies, internal processes, restructures, redundancies, employment disputes and negotiations, business protection, DSAR responses and document reviews, as well as being highly experienced and successful representatives in employment tribunal and appeal court proceedings.
We adopt a team based approach and take a real interest in our clients and their businesses, enabling us to deliver an effective and tailored service.
As well as helping our clients manage their day to day HR issues we also offer the following support:
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This guide is for general information and interest only and should not be relied upon as providing specific legal advice. If you require any further information about the issues raised in this article please contact the author or call 0207 404 0606 and ask to speak to your usual Goodman Derrick contact.